PDD Holdings Inc. Sponsored ADR $PDD Shares Sold by Franchise Capital Ltd

Key Points

• Franchise Capital Ltd reduced its holdings in PDD Holdings by 2.5%, selling 12,770 shares and now owning 502,050 shares, which represent 27.4% of its investment portfolio.
• Equities analysts are optimistic about PDD, with multiple firms reiterating "buy" ratings and price targets increasing, including Barclays raising its target from $158.00 to $165.00.
• PDD Holdings Inc.'s stock recently traded at $134.33, with a market cap of $187.01 billion and a price-to-earnings ratio of 14.57.

Franchise Capital Ltd lowered its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 2.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 502,050 shares of the company's stock after selling 12,770 shares during the period. PDD accounts for 27.4% of Franchise Capital Ltd's investment portfolio, making the stock its 2nd largest holding. Franchise Capital Ltd's holdings in PDD were worth $52,545,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of PDD. Focus Financial Network Inc. lifted its stake in shares of PDD by 4.3% in the 2nd quarter. Focus Financial Network Inc. now owns 2,376 shares of the company's stock worth $249,000 after acquiring an additional 97 shares during the period. Signaturefd LLC increased its holdings in shares of PDD by 1.3% in the 1st 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. Advisors Asset Management Inc. increased its holdings in shares of PDD by 2.8% in the 1st 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 increased its holdings in shares of PDD by 11.5% in the 1st 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 purchased a new position in shares of PDD in the 1st quarter valued at about $26,000. Institutional investors and hedge funds own 39.83% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on PDD shares. Citigroup reiterated a "buy" rating on shares of PDD in a report on Monday, August 25th. Jefferies Financial Group set a $146.00 price target on shares of PDD and gave the company a "buy" rating in a report on Monday, August 25th. Barclays increased their price target on shares of PDD from $158.00 to $165.00 and gave the company an "overweight" rating in a report on Tuesday, August 26th. Zacks Research upgraded shares of PDD from a "hold" rating to a "strong-buy" rating in a report on Friday, August 29th. Finally, Benchmark reiterated a "buy" rating and issued a $160.00 price target (up previously from $128.00) on shares of PDD in a report on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $137.82.

PDD Stock Up 0.1%

NASDAQ PDD opened at $134.33 on Tuesday. PDD Holdings Inc. Sponsored ADR has a fifty-two week low of $87.11 and a fifty-two week high of $155.38. The stock has a market cap of $187.01 billion, a price-to-earnings ratio of 14.57, a price-to-earnings-growth ratio of 1.59 and a beta of 0.40. The business has a fifty day moving average of $123.33 and a 200-day moving average of $112.48.

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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