Union Bancaire Privee UBP SA Purchases 9,751 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• Union Bancaire Privee UBP SA increased its holdings in PDD Holdings Inc. by 20.8%, acquiring an additional 9,751 shares in the second quarter.
• Wall Street analysts have a mixed outlook on PDD, with one strong buy, five buy ratings, and an average price target of $137.82 for the stock.
• PDD's stock is currently trading at $130.67, with a market cap of $181.91 billion and a 1-year range between $87.11 and $155.67.

Union Bancaire Privee UBP SA grew its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 20.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 56,727 shares of the company's stock after purchasing an additional 9,751 shares during the quarter. Union Bancaire Privee UBP SA's holdings in PDD were worth $5,403,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Focus Financial Network Inc. boosted 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 valued at $249,000 after purchasing an additional 97 shares during the last quarter. Signaturefd LLC boosted its stake 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 during the last quarter. Advisors Asset Management Inc. boosted its stake in PDD by 2.8% during the first quarter. Advisors Asset Management Inc. now owns 5,279 shares of the company's stock worth $625,000 after acquiring an additional 146 shares in the last quarter. Lindbrook Capital LLC boosted its stake in PDD by 11.5% during the first quarter. Lindbrook Capital LLC now owns 1,930 shares of the company's stock worth $228,000 after acquiring an additional 199 shares in the last quarter. Finally, Hollencrest Capital Management bought a new position in PDD during the first quarter worth $26,000. 39.83% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PDD. 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. Citigroup reissued a "buy" rating on shares of PDD in a research note on Monday, August 25th. Barclays increased their target price on shares of PDD from $158.00 to $165.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 26th. Zacks Research raised shares of PDD from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 29th. Finally, Macquarie set a $165.00 target price on shares of PDD and gave the stock an "outperform" 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 eight have assigned a Hold rating to the company's stock. According to MarketBeat.com, PDD presently has an average rating of "Moderate Buy" and an average price target of $137.82.

PDD Trading Up 0.5%

PDD opened at $130.67 on Tuesday. The company's fifty day moving average price is $121.66 and its two-hundred day moving average price is $112.27. 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 $181.91 billion, a price-to-earnings ratio of 14.17, a PEG ratio of 1.54 and a beta of 0.46.

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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