First Beijing Investment Ltd Purchases 91,414 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• First Beijing Investment Ltd has increased its stake in PDD Holdings Inc. by 2.4%, making PDD its largest position, accounting for 31.3% of its investment portfolio.
• Multiple hedge funds have added to their holdings in PDD, with significant increases reported by Baillie Gifford & Co. (5.2%) and Mirae Asset Global Investments (9,469.7%).
• PDD Holdings Inc. currently holds a market cap of $174.06 billion and has experienced price fluctuations, with a 12-month low of $87.11 and a high of $155.67.

First Beijing Investment Ltd raised its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 2.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,857,223 shares of the company's stock after acquiring an additional 91,414 shares during the period. PDD comprises about 31.3% of First Beijing Investment Ltd's investment portfolio, making the stock its largest holding. First Beijing Investment Ltd owned about 0.28% of PDD worth $456,502,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PDD. Signaturefd LLC lifted its holdings in shares of PDD by 1.3% in the first quarter. Signaturefd LLC now owns 8,957 shares of the company's stock valued at $1,060,000 after purchasing an additional 119 shares in the last quarter. Focus Financial Network Inc. lifted its holdings in shares of PDD by 6.3% in the first quarter. Focus Financial Network Inc. now owns 2,279 shares of the company's stock valued at $270,000 after purchasing an additional 136 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of PDD by 2.8% in the first quarter. Advisors Asset Management Inc. now owns 5,279 shares of the company's stock valued at $625,000 after purchasing an additional 146 shares in the last quarter. Lindbrook Capital LLC lifted its holdings in shares of PDD by 11.5% in the first quarter. Lindbrook Capital LLC now owns 1,930 shares of the company's stock valued at $228,000 after purchasing an additional 199 shares in the last quarter. Finally, Hollencrest Capital Management bought a new stake in shares of PDD in the first quarter valued at about $26,000. 39.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Citigroup restated a "buy" rating on shares of PDD in a report on Monday, August 25th. Barclays boosted their price target on PDD from $158.00 to $165.00 and gave the company an "overweight" rating in a report on Tuesday, August 26th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $112.00 target price on shares of PDD in a report on Wednesday, May 28th. Benchmark reiterated a "buy" rating and set a $160.00 target price (up previously from $128.00) on shares of PDD in a report on Tuesday, August 26th. Finally, New Street Research lowered PDD from a "buy" rating to a "neutral" rating and set a $120.00 target price on the stock. in a report on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $137.82.

PDD Price Performance

NASDAQ PDD traded down $0.28 during trading on Friday, reaching $125.44. 4,865,746 shares of the company's stock were exchanged, compared to its average volume of 10,144,946. The business has a 50 day moving average price of $116.35 and a 200-day moving average price of $111.33. The stock has a market capitalization of $174.63 billion, a P/E ratio of 13.61, a PEG ratio of 1.49 and a beta of 0.46. PDD Holdings Inc. Sponsored ADR has a fifty-two week low of $87.11 and a fifty-two week high of $155.67.

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.