PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) Shares Purchased by Janney Capital Management LLC

Janney Capital Management LLC boosted its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 96.1% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 70,744 shares of the company's stock after acquiring an additional 34,660 shares during the period. Janney Capital Management LLC's holdings in PDD were worth $8,373,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. PKO Investment Management Joint Stock Co acquired a new position in PDD during the first quarter worth $1,184,000. QRG Capital Management Inc. raised its position in PDD by 7.9% during the first quarter. QRG Capital Management Inc. now owns 14,769 shares of the company's stock worth $1,748,000 after acquiring an additional 1,085 shares during the period. Sagespring Wealth Partners LLC acquired a new position in PDD during the first quarter worth $306,000. Tuttle Capital Management LLC acquired a new position in PDD during the first quarter worth $287,000. Finally, Exchange Traded Concepts LLC raised its position in PDD by 10.7% during the first quarter. Exchange Traded Concepts LLC now owns 20,930 shares of the company's stock worth $2,477,000 after acquiring an additional 2,027 shares during the period. 39.83% of the stock is currently owned by institutional investors and hedge funds.

PDD Price Performance

Shares of PDD stock opened at $102.25 on Thursday. The firm has a market cap of $142.35 billion, a PE ratio of 11.01, a price-to-earnings-growth ratio of 1.45 and a beta of 0.42. The company has a 50-day moving average of $104.76 and a two-hundred day moving average of $108.26. PDD Holdings Inc. Sponsored ADR has a 1-year low of $87.11 and a 1-year high of $155.67.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on PDD. Jefferies Financial Group set a $121.00 target price on shares of PDD and gave the stock a "buy" rating in a report on Tuesday, May 27th. Nomura reaffirmed a "neutral" rating and set a $130.00 target price (down previously from $137.00) on shares of PDD in a report on Thursday, March 20th. Nomura Securities lowered shares of PDD from a "strong-buy" rating to a "hold" rating in a report on Friday, March 21st. Macquarie reaffirmed an "outperform" rating on shares of PDD in a report on Tuesday, May 27th. Finally, JPMorgan Chase & Co. dropped their target price on shares of PDD from $125.00 to $105.00 and set a "neutral" rating for the company in a report on Wednesday, May 28th. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $144.55.

PDD Profile

PDD Holdings Inc, a multinational commerce group, owns and operates a portfolio of businesses. It operates Pinduoduo, an e-commerce platform that offers products in various categories, including agricultural produce, apparel, shoes, bags, mother and childcare products, food and beverage, electronic appliances, furniture and household goods, cosmetics and other personal care, sports and fitness items and auto accessories; and Temu, an online marketplace.

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