WCM Investment Management LLC Has $29.43 Million Stock Holdings in PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• WCM Investment Management LLC reduced its stake in PDD Holdings by 32.0%, holding 279,885 shares valued at approximately $29.43 million.
• Other institutional investors, including Krane Funds Advisors LLC and OVERSEA CHINESE BANKING Corp Ltd, significantly increased their positions, with OVERSEA's holdings rising by 4,562.1%.
• PDD stock received multiple upgrades from analysts, with Barclays raising its price target to $165.00 and Zacks upgrading the stock to a strong-buy rating.

WCM Investment Management LLC lessened its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 32.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 279,885 shares of the company's stock after selling 131,439 shares during the period. WCM Investment Management LLC's holdings in PDD were worth $29,427,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Krane Funds Advisors LLC lifted its position in PDD by 78.3% during the 1st quarter. Krane Funds Advisors LLC now owns 5,036,389 shares of the company's stock worth $596,057,000 after buying an additional 2,211,286 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in PDD by 20.3% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 59,439 shares of the company's stock worth $6,221,000 after buying an additional 10,036 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its position in PDD by 4,562.1% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 14,419,327 shares of the company's stock worth $1,706,527,000 after buying an additional 14,110,042 shares in the last quarter. Edmond DE Rothschild Holding S.A. lifted its position in PDD by 54.1% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 26,216 shares of the company's stock worth $3,103,000 after buying an additional 9,206 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in PDD by 53.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 7,394,211 shares of the company's stock worth $773,878,000 after buying an additional 2,573,065 shares in the last quarter. Institutional investors and hedge funds own 39.83% of the company's stock.

PDD Trading Up 0.4%

PDD stock opened at $127.58 on Thursday. PDD Holdings Inc. Sponsored ADR has a 1 year low of $87.11 and a 1 year high of $136.84. The company has a market cap of $177.61 billion, a PE ratio of 13.84, a PEG ratio of 1.50 and a beta of 0.40. The company's 50-day moving average is $125.62 and its two-hundred day moving average is $112.89.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PDD. Barclays upped their price target on shares of PDD from $158.00 to $165.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 26th. Zacks Research upgraded shares of PDD from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 29th. Bank of America upped their price target on shares of PDD from $120.00 to $141.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 26th. Weiss Ratings reiterated a "hold (c+)" rating on shares of PDD in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group set a $146.00 target price on shares of PDD and gave the company a "buy" rating in a research report on Monday, August 25th. 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 company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $137.82.

PDD 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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