Valeo Financial Advisors LLC Makes New $136,000 Investment in PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• Valeo Financial Advisors LLC invested approximately $136,000 in PDD Holdings Inc., acquiring 125,690 shares during the 2nd quarter.
• Several hedge funds have modified their holdings in PDD, with institutional investors collectively owning 39.83% of the company's stock.
• Analysts have updated their ratings for PDD, with Jefferies Financial Group setting a price target of $146.00 and multiple firms giving it a "buy" or "outperform" rating.

Valeo Financial Advisors LLC bought a new position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 125,690 shares of the company's stock, valued at approximately $136,000.

A number of other hedge funds also recently modified their holdings of the business. Focus Financial Network Inc. increased its stake in PDD by 4.3% during the 2nd quarter. Focus Financial Network Inc. now owns 2,376 shares of the company's stock worth $249,000 after purchasing an additional 97 shares in the last quarter. Signaturefd LLC boosted its holdings in shares of PDD by 1.3% in the first quarter. Signaturefd LLC now owns 8,957 shares of the company's stock valued at $1,060,000 after buying an additional 119 shares during the period. Advisors Asset Management Inc. boosted its holdings in shares of PDD by 2.8% in the first quarter. Advisors Asset Management Inc. now owns 5,279 shares of the company's stock valued at $625,000 after buying an additional 146 shares during the period. Lindbrook Capital LLC lifted its position in 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 acquiring an additional 199 shares in the last quarter. Finally, Hollencrest Capital Management bought a new stake in PDD in the 1st quarter valued at $26,000. Institutional investors and hedge funds own 39.83% of the company's stock.

Analyst Ratings Changes

PDD has been the topic of several recent research reports. 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. Benchmark reiterated a "buy" rating and set a $160.00 price objective (up from $128.00) on shares of PDD in a report on Tuesday, August 26th. Macquarie set a $165.00 price target on PDD and gave the stock an "outperform" rating in a research report on Monday, August 25th. Barclays upped their price target on PDD from $158.00 to $165.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 26th. Finally, Zacks Research raised shares of PDD from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 29th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $137.82.

PDD Trading Down 5.3%

NASDAQ PDD opened at $124.27 on Friday. The company has a market cap of $173.00 billion, a PE ratio of 13.48, a PEG ratio of 1.55 and a beta of 0.40. PDD Holdings Inc. Sponsored ADR has a 12 month low of $87.11 and a 12 month high of $145.37. The stock has a 50 day moving average of $124.75 and a 200-day moving average of $112.79.

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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