PDD Holdings Inc. Sponsored ADR $PDD Shares Purchased by Farther Finance Advisors LLC

Key Points

• Farther Finance Advisors LLC significantly increased its holdings in PDD Holdings Inc. by 259.1% during the second quarter, owning a total of 11,653 shares worth $1.22 million.
• A number of institutional investors, including Mackenzie Financial Corp and California State Teachers Retirement System, have also raised their stakes in PDD during the fourth quarter.
• PDD stock recently opened at $128.52, and analysts have mixed ratings, with one upgrade to "strong-buy" and price targets ranging from $107.00 to $141.00.

Farther Finance Advisors LLC raised its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 259.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,653 shares of the company's stock after purchasing an additional 8,408 shares during the period. Farther Finance Advisors LLC's holdings in PDD were worth $1,220,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PDD. Mackenzie Financial Corp boosted its stake in PDD by 20.0% during the 4th quarter. Mackenzie Financial Corp now owns 244,609 shares of the company's stock valued at $23,725,000 after purchasing an additional 40,732 shares during the period. Siemens Fonds Invest GmbH bought a new stake in shares of PDD during the 4th quarter worth about $192,000. Wealthedge Investment Advisors LLC bought a new stake in shares of PDD during the 4th quarter worth about $666,000. 111 Capital bought a new stake in shares of PDD during the 4th quarter worth about $508,000. Finally, California State Teachers Retirement System raised its position in shares of PDD by 7.1% during the 4th quarter. California State Teachers Retirement System now owns 324,354 shares of the company's stock worth $31,459,000 after buying an additional 21,507 shares in the last quarter. 39.83% of the stock is owned by institutional investors and hedge funds.

PDD Stock Down 0.0%

PDD stock opened at $128.52 on Wednesday. The company has a market capitalization of $178.92 billion, a price-to-earnings ratio of 13.94, a P/E/G ratio of 1.52 and a beta of 0.46. PDD Holdings Inc. Sponsored ADR has a 12 month low of $87.11 and a 12 month high of $155.67. The firm has a 50 day moving average of $119.88 and a two-hundred day moving average of $111.97.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. New Street Research downgraded shares of PDD from a "buy" rating to a "neutral" rating and set a $120.00 price target on the stock. in a research report on Tuesday, August 26th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $112.00 price target on shares of PDD in a research report on Wednesday, May 28th. Zacks Research upgraded shares of PDD from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 29th. China Renaissance restated a "hold" rating and set a $107.00 price target on shares of PDD in a research report on Wednesday, May 28th. Finally, Bank of America boosted their target price on shares of PDD from $120.00 to $141.00 and gave the stock a "neutral" rating in a report on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, PDD has an average rating of "Moderate Buy" and a consensus price target of $137.82.

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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