Robeco Institutional Asset Management B.V. Sells 1,136,654 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• Robeco Institutional Asset Management B.V. has reduced its stake in PDD Holdings Inc. by 48%, selling over 1.1 million shares during the second quarter, now holding approximately 1.2 million shares.
• Other institutional investors have shown varied activity, with Focus Financial increasing their stake by 4.3% and Lindbrook Capital raising theirs by 11.5% during the same period.
• PDD Holdings has a current price of $135.24 and a market capitalization of $188.27 billion, with analysts giving it an average rating of "Moderate Buy" and a target price of approximately $137.82.

Robeco Institutional Asset Management B.V. trimmed its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 48.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,232,727 shares of the company's stock after selling 1,136,654 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.09% of PDD worth $129,017,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Focus Financial Network Inc. raised its stake in shares of PDD by 4.3% during the second quarter. Focus Financial Network Inc. now owns 2,376 shares of the company's stock valued at $249,000 after acquiring an additional 97 shares during the last quarter. Signaturefd LLC grew its stake in shares of PDD by 1.3% in the first quarter. Signaturefd LLC now owns 8,957 shares of the company's stock worth $1,060,000 after purchasing an additional 119 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in PDD by 2.8% during 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 during the period. Lindbrook Capital LLC raised its position in PDD by 11.5% during 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 during the last quarter. Finally, Hollencrest Capital Management purchased a new stake in PDD in the 1st quarter worth approximately $26,000. Hedge funds and other institutional investors own 39.83% of the company's stock.

PDD Price Performance

PDD opened at $135.24 on Friday. The stock has a 50-day moving average price of $122.66 and a 200-day moving average price of $112.60. The firm has a market cap of $188.27 billion, a PE ratio of 14.67, a P/E/G ratio of 1.59 and a beta of 0.40. PDD Holdings Inc. Sponsored ADR has a 1 year low of $87.11 and a 1 year high of $155.67.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PDD. Barclays boosted their target price on PDD from $158.00 to $165.00 and gave the company an "overweight" rating in a research note on Tuesday, August 26th. Benchmark reissued a "buy" rating and set a $160.00 price objective (up from $128.00) on shares of PDD in a research report on Tuesday, August 26th. New Street Research cut shares of PDD from a "buy" rating to a "neutral" rating and set a $120.00 target price for the company. in a research report on Tuesday, August 26th. Citigroup reaffirmed a "buy" rating on shares of PDD in a research note on Monday, August 25th. Finally, Jefferies Financial Group set a $146.00 price target on shares of PDD and gave the stock a "buy" rating in a research note on Monday, August 25th. 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 stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $137.82.

PDD Company 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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