PDD Holdings Inc. Sponsored ADR $PDD Shares Purchased by China Universal Asset Management Co. Ltd.

Key Points

• China Universal Asset Management increased its PDD Holdings stake by 59% in the third quarter, purchasing 21,654 additional shares. Its holdings totaled 58,359 shares valued at approximately $4.52 million.
• Institutional investors own about 39.83% of PDD, with several other firms also adding to or initiating positions recently.
• Analyst sentiment remains mixed: PDD has a consensus “Hold” rating and an average price target of $110.31, while shares recently traded at $79.28—down from their 52-week high of $139.12.

China Universal Asset Management Co. Ltd. increased its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 59.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,359 shares of the company's stock after purchasing an additional 21,654 shares during the period. China Universal Asset Management Co. Ltd.'s holdings in PDD were worth $4,523,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PDD. Wealthfront Advisers LLC increased its stake in PDD by 3.6% during the 1st quarter. Wealthfront Advisers LLC now owns 3,609 shares of the company's stock valued at $369,000 after purchasing an additional 127 shares in the last quarter. NewEdge Advisors LLC lifted its stake in shares of PDD by 2.9% in the first quarter. NewEdge Advisors LLC now owns 4,677 shares of the company's stock worth $478,000 after buying an additional 134 shares in the last quarter. IFM Investors Pty Ltd grew its holdings in shares of PDD by 0.5% during the first quarter. IFM Investors Pty Ltd now owns 75,408 shares of the company's stock valued at $7,705,000 after buying an additional 405 shares during the last quarter. Frank Rimerman Advisors LLC grew its holdings in shares of PDD by 9.2% during the third quarter. Frank Rimerman Advisors LLC now owns 4,951 shares of the company's stock valued at $386,000 after buying an additional 416 shares during the last quarter. Finally, Grove Bank & Trust purchased a new stake in shares of PDD during the second quarter valued at approximately $38,000. 39.83% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PDD. Weiss Ratings raised shares of PDD from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday. Benchmark lowered their price objective on PDD from $127.00 to $114.00 and set a "buy" rating on the stock in a research report on Tuesday, August 25th. JPMorgan Chase & Co. cut their target price on PDD from $110.00 to $95.00 and set a "neutral" rating on the stock in a research note on Thursday, September 10th. Zacks Research raised PDD from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 25th. Finally, Deutsche Bank Aktiengesellschaft raised PDD from a "hold" rating to a "buy" rating in a report on Thursday. Six investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, PDD currently has a consensus rating of "Hold" and an average target price of $110.31.

PDD Stock Up 2.3%

Shares of PDD stock opened at $79.28 on Friday. The company has a 50 day moving average price of $80.51 and a 200-day moving average price of $91.38. PDD Holdings Inc. Sponsored ADR has a 52 week low of $71.94 and a 52 week high of $139.12. The firm has a market capitalization of $112.85 billion, a PE ratio of 8.73, a P/E/G ratio of 0.61 and a beta of -0.05.

PDD (NASDAQ:PDD - Get Free Report) last issued its quarterly earnings data on Friday, August 14th. The company reported $2.84 earnings per share for the quarter. PDD had a net margin of 20.73% and a return on equity of 22.29%. The company had revenue of $16.54 billion for the quarter. Analysts anticipate that PDD Holdings Inc. Sponsored ADR will post 10.02 earnings per share for the current year.

About PDD

PDD Holdings Inc is a multinational commerce group that operates online marketplace platforms connecting consumers with merchants, manufacturers and agricultural producers. The company's platforms use interactive shopping features, including group purchasing and personalized product discovery, to offer a broad range of merchandise at competitive prices.

PDD Holdings' businesses include Pinduoduo, an e-commerce platform serving consumers in China, and Temu, an online marketplace launched in 2022 that serves consumers across multiple international markets, including North America, Europe and other regions.

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