Vanguard Personalized Indexing Management LLC Has $1.63 Million Stake in PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• Vanguard Personalized Indexing Management LLC increased its stake in PDD Holdings Inc. by 19.6% in Q2, holding a total of 15,533 shares valued at approximately $1.63 million.
• Several analysts have upgraded their ratings for PDD, with Zacks Research moving it to a "strong-buy" rating and Benchmark raising the price target significantly to $160.
• PDD Holdings has a market capitalization of $178.86 billion and has seen its stock performance improve, currently trading above its 50-day and 200-day moving averages.

Vanguard Personalized Indexing Management LLC lifted its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 19.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,533 shares of the company's stock after purchasing an additional 2,546 shares during the quarter. Vanguard Personalized Indexing Management LLC's holdings in PDD were worth $1,626,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PDD. Wealth Enhancement Advisory Services LLC acquired a new position in shares of PDD in the first quarter valued at $1,631,000. Sagespring Wealth Partners LLC acquired a new position in shares of PDD in the first quarter valued at $306,000. QRG Capital Management Inc. raised its stake in PDD by 7.9% during the first quarter. QRG Capital Management Inc. now owns 14,769 shares of the company's stock worth $1,748,000 after acquiring an additional 1,085 shares in the last quarter. Blue Trust Inc. raised its stake in PDD by 26.8% during the first quarter. Blue Trust Inc. now owns 3,084 shares of the company's stock worth $365,000 after acquiring an additional 652 shares in the last quarter. Finally, TT International Asset Management LTD acquired a new position in PDD during the first quarter worth $31,398,000. 39.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Zacks Research upgraded PDD from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 29th. Benchmark reiterated a "buy" rating and set a $160.00 price objective (up from $128.00) on shares of PDD in a research note on Tuesday, August 26th. Barclays increased their price objective on PDD from $158.00 to $165.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 26th. Citigroup reiterated a "buy" rating on shares of PDD in a research note on Monday, August 25th. Finally, Bank of America increased their price objective on PDD from $120.00 to $141.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, PDD presently has an average rating of "Hold" and an average price target of $137.82.

PDD Stock Performance

Shares of PDD stock opened at $128.48 on Friday. The stock's fifty day moving average is $126.17 and its 200-day moving average is $113.00. The stock has a market capitalization of $178.86 billion, a PE ratio of 13.93, a PEG ratio of 1.51 and a beta of 0.40. PDD Holdings Inc. Sponsored ADR has a 52 week low of $87.11 and a 52 week high of $136.84.

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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