Yarbrough Capital LLC Purchases 17,608 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• Yarbrough Capital LLC increased its holdings in PDD Holdings Inc. by 41.1%, acquiring an additional 17,608 shares during the second quarter, bringing its total shares to 60,489, valued at approximately $6.3 million.
• Analysts have set varied price targets for PDD, with Barclays raising its target from $158 to $165, while New Street Research downgraded the stock from "buy" to "neutral" with a target of $120.
• PDD stock is currently trading at $128.52, with a market capitalization of $178.92 billion and an average analyst rating of "Moderate Buy".

Yarbrough Capital LLC grew its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 41.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,489 shares of the company's stock after acquiring an additional 17,608 shares during the quarter. Yarbrough Capital LLC's holdings in PDD were worth $6,331,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in PDD. Hollencrest Capital Management bought a new position in PDD during the 1st quarter valued at about $26,000. IFP Advisors Inc grew its stake in shares of PDD by 245.8% during the first quarter. IFP Advisors Inc now owns 408 shares of the company's stock valued at $48,000 after buying an additional 290 shares during the last quarter. Goldstream Capital Management Ltd bought a new position in shares of PDD during the first quarter valued at approximately $102,000. Siemens Fonds Invest GmbH purchased a new stake in shares of PDD in the fourth quarter worth approximately $192,000. Finally, OneDigital Investment Advisors LLC bought a new stake in shares of PDD during the 1st quarter worth approximately $204,000. 39.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on PDD shares. New Street Research downgraded PDD from a "buy" rating to a "neutral" rating and set a $120.00 price objective on the stock. in a research report on Tuesday, August 26th. China Renaissance restated a "hold" rating and issued a $107.00 price target on shares of PDD in a report on Wednesday, May 28th. Barclays raised their target price 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. Jefferies Financial Group set a $146.00 target price on PDD and gave the stock a "buy" rating in a report on Monday, August 25th. Finally, Macquarie set a $165.00 price target on PDD and gave the stock an "outperform" rating in a research report on Monday, August 25th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $137.82.

PDD Price Performance

PDD stock opened at $128.52 on Wednesday. The company has a market capitalization of $178.92 billion, a P/E ratio of 13.94, a price-to-earnings-growth ratio of 1.52 and a beta of 0.46. PDD Holdings Inc. Sponsored ADR has a 12 month low of $87.11 and a 12 month high of $155.67. The firm's fifty day simple moving average is $119.88 and its 200-day simple moving average is $111.97.

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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