PDD Holdings Inc. Sponsored ADR $PDD Shares Bought by TB Alternative Assets Ltd.

Key Points

• TB Alternative Assets Ltd. has increased its stake in PDD Holdings Inc. by 6.5%, holding 212,888 shares worth approximately $22.3 million, now constituting 4.1% of its portfolio.
• Other institutional investors like Yarbrough Capital LLC and Farther Finance Advisors LLC significantly boosted their stakes during the second quarter, indicating increased investor interest in PDD.
• PDD's stock has shown price fluctuations with a one-year low of $87.11 and a high of $155.67, currently trading around $130.96, alongside analysts setting mixed price targets averaging $137.82.

TB Alternative Assets Ltd. raised its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 6.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 212,888 shares of the company's stock after purchasing an additional 13,001 shares during the quarter. PDD accounts for 4.1% of TB Alternative Assets Ltd.'s portfolio, making the stock its 10th largest holding. TB Alternative Assets Ltd.'s holdings in PDD were worth $22,281,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Yarbrough Capital LLC raised its stake in shares of PDD by 41.1% during the second quarter. Yarbrough Capital LLC now owns 60,489 shares of the company's stock worth $6,331,000 after buying an additional 17,608 shares during the last quarter. Sowell Financial Services LLC bought a new stake in PDD during the 2nd quarter worth approximately $237,000. Farther Finance Advisors LLC raised its holdings in shares of PDD by 259.1% during the second quarter. Farther Finance Advisors LLC now owns 11,653 shares of the company's stock worth $1,220,000 after acquiring an additional 8,408 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of PDD by 53.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 7,394,211 shares of the company's stock valued at $773,878,000 after purchasing an additional 2,573,065 shares during the period. Finally, Myriad Asset Management US LP raised its position in PDD by 1.7% in the 2nd quarter. Myriad Asset Management US LP now owns 38,627 shares of the company's stock valued at $4,043,000 after buying an additional 637 shares during the last quarter. 39.83% of the stock is owned by institutional investors.

PDD Price Performance

Shares of PDD stock opened at $130.96 on Thursday. PDD Holdings Inc. Sponsored ADR has a one year low of $87.11 and a one year high of $155.67. The business has a 50-day simple moving average of $120.40 and a 200 day simple moving average of $112.10. The firm has a market capitalization of $182.32 billion, a price-to-earnings ratio of 14.20, a PEG ratio of 1.52 and a beta of 0.46.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Macquarie set a $165.00 price objective on PDD and gave the company an "outperform" rating in a research report on Monday, August 25th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $112.00 target price on shares of PDD in a research report on Wednesday, May 28th. Zacks Research upgraded PDD from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 29th. Jefferies Financial Group set a $146.00 price objective on PDD and gave the stock a "buy" rating in a research report on Monday, August 25th. Finally, JPMorgan Chase & Co. decreased their price target on shares of PDD from $125.00 to $105.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 28th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, PDD has an average rating of "Moderate Buy" and an average price target of $137.82.

About PDD

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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