Yousif Capital Management LLC Cuts Stock Holdings in PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• Yousif Capital Management LLC has reduced its stake in PDD Holdings Inc. by 45.8%, now holding 18,501 shares valued at approximately $1.94 million.
• Recent analyses by various firms show a mixed outlook for PDD, with target prices ranging from $120.00 to $165.00 and multiple ratings from "Strong Buy" to "Hold."
• PDD Holdings, a major player in e-commerce, has a current market cap of $178.86 billion, with a 1-year high of $136.84 and a low of $87.11 for its stock price.

Yousif Capital Management LLC decreased its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 45.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,501 shares of the company's stock after selling 15,641 shares during the quarter. Yousif Capital Management LLC's holdings in PDD were worth $1,936,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hollencrest Capital Management acquired a new position in shares of PDD during the 1st quarter valued at $26,000. Ameritas Advisory Services LLC acquired a new position in shares of PDD during the 2nd quarter valued at $28,000. IFP Advisors Inc lifted its holdings in shares of PDD by 245.8% during the 1st quarter. IFP Advisors Inc now owns 408 shares of the company's stock valued at $48,000 after acquiring an additional 290 shares in the last quarter. Goldstream Capital Management Ltd acquired a new position in shares of PDD during the 1st quarter valued at $102,000. Finally, Valeo Financial Advisors LLC acquired a new position in shares of PDD during the 2nd quarter valued at $136,000. Institutional investors and hedge funds own 39.83% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PDD. Jefferies Financial Group set a $146.00 target price on shares of PDD and gave the company a "buy" rating in a report on Monday, August 25th. New Street Research downgraded shares of PDD from a "buy" rating to a "neutral" rating and set a $120.00 price target on the stock. in a research note on Tuesday, August 26th. Macquarie set a $165.00 price target on shares of PDD and gave the stock an "outperform" rating in a research note on Monday, August 25th. Barclays lifted their price target 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. Finally, Zacks Research raised shares of PDD from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, PDD presently has an average rating of "Hold" and an average price target of $137.82.

PDD Price Performance

Shares of PDD stock opened at $128.48 on Friday. The firm has a market cap of $178.86 billion, a P/E ratio of 13.93, a P/E/G ratio of 1.52 and a beta of 0.40. PDD Holdings Inc. Sponsored ADR has a 1-year low of $87.11 and a 1-year high of $136.84. The firm has a fifty day moving average of $126.17 and a two-hundred day moving average of $112.96.

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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