Public Employees Retirement System of Ohio Has $17.70 Million Holdings in PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• The Public Employees Retirement System of Ohio has **$17.70 million** in holdings of PDD Holdings Inc., having reduced its stake by **19.5%** during the second quarter.
• Institutional investors collectively own **39.83%** of PDD stock, with various firms recently increasing or establishing their positions in the company.
• Analysts have mixed ratings on PDD, with one strong buy, five buy ratings, and a **consensus target price** of **$137.82**, reflecting a generally optimistic outlook.

Public Employees Retirement System of Ohio reduced its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 19.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 169,135 shares of the company's stock after selling 40,969 shares during the period. Public Employees Retirement System of Ohio's holdings in PDD were worth $17,702,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hollencrest Capital Management bought a new stake in PDD during the first quarter worth $26,000. IFP Advisors Inc grew its position in shares of PDD by 245.8% in the first quarter. IFP Advisors Inc now owns 408 shares of the company's stock valued at $48,000 after purchasing an additional 290 shares during the last quarter. Goldstream Capital Management Ltd acquired a new position in PDD in the 1st quarter valued at $102,000. Siemens Fonds Invest GmbH bought a new position in PDD during the fourth quarter worth about $192,000. Finally, OneDigital Investment Advisors LLC bought a new position in shares of PDD during the first quarter worth approximately $204,000. Institutional investors own 39.83% of the company's stock.

PDD Trading Up 0.0%

Shares of PDD stock opened at $131.01 on Friday. The company has a 50 day moving average of $120.86 and a 200-day moving average of $112.21. PDD Holdings Inc. Sponsored ADR has a 1-year low of $87.11 and a 1-year high of $155.67. The company has a market cap of $182.39 billion, a PE ratio of 14.21, a price-to-earnings-growth ratio of 1.55 and a beta of 0.46.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. New Street Research lowered PDD from a "buy" rating to a "neutral" rating and set a $120.00 price objective on the stock. in a research note on Tuesday, August 26th. Jefferies Financial Group set a $146.00 price target on PDD and gave the company a "buy" rating in a research note on Monday, August 25th. Barclays upped their price objective on shares of PDD from $158.00 to $165.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 26th. Bank of America raised their target price on shares of PDD from $120.00 to $141.00 and gave the company a "neutral" rating in a report on Tuesday, August 26th. Finally, Macquarie set a $165.00 target price on shares of PDD and gave the company an "outperform" rating in a research report on Monday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat.com, PDD presently has a consensus rating of "Moderate Buy" and a consensus target price 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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