TD Asset Management Inc Sells 4,186 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• TD Asset Management Inc reduced its stake in PDD Holdings Inc. by 3.7% during the second quarter, selling 4,186 shares and now holds 109,426 shares valued at approximately $11.45 million.
• Several institutional investors have increased their positions in PDD, including Vanguard Personalized Indexing Management, which boosted its holdings by 19.6%, now owning 15,533 shares.
• Analysts have mixed ratings on PDD, with Citigroup maintaining a "buy" rating and Zacks upgrading it to a "strong-buy", while the company has a current target price consensus of $137.82.

TD Asset Management Inc lessened its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 3.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 109,426 shares of the company's stock after selling 4,186 shares during the quarter. TD Asset Management Inc's holdings in PDD were worth $11,453,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Morningstar Investment Management LLC purchased a new stake in shares of PDD during the 2nd quarter valued at about $1,473,000. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of PDD by 19.6% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 15,533 shares of the company's stock valued at $1,626,000 after acquiring an additional 2,546 shares during the last quarter. Apollon Wealth Management LLC boosted its holdings in shares of PDD by 17.6% during the 2nd quarter. Apollon Wealth Management LLC now owns 3,574 shares of the company's stock valued at $374,000 after acquiring an additional 536 shares during the last quarter. Aberdeen Group plc boosted its holdings in shares of PDD by 2.2% during the 2nd quarter. Aberdeen Group plc now owns 1,278,666 shares of the company's stock valued at $133,506,000 after acquiring an additional 28,033 shares during the last quarter. Finally, Gunderson Capital Management Inc. boosted its holdings in shares of PDD by 5.5% during the 2nd quarter. Gunderson Capital Management Inc. now owns 1,944 shares of the company's stock valued at $203,000 after acquiring an additional 101 shares during the last quarter. Hedge funds and other institutional investors own 39.83% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PDD shares. Citigroup reaffirmed a "buy" rating on shares of PDD in a report on Monday, August 25th. Weiss Ratings reissued a "hold (c+)" rating on shares of PDD in a report on Wednesday, October 8th. Zacks Research raised shares of PDD from a "hold" rating to a "strong-buy" rating in a report on Friday, August 29th. Benchmark reissued a "buy" rating and issued a $160.00 price objective (up previously from $128.00) on shares of PDD in a report on Tuesday, August 26th. Finally, Jefferies Financial Group set a $146.00 target price on shares of PDD and gave the stock a "buy" rating in a research note on Monday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $137.82.

PDD Trading Up 0.9%

NASDAQ PDD opened at $128.48 on Friday. PDD Holdings Inc. Sponsored ADR has a 12 month low of $87.11 and a 12 month high of $136.84. The stock has a market cap of $178.86 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 1.52 and a beta of 0.40. The company's 50 day moving average is $126.17 and its two-hundred day moving average is $112.96.

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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