Profund Advisors LLC Has $9.07 Million Position in PDD Holdings Inc. Sponsored ADR $PDD

Profund Advisors LLC decreased its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 0.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 86,682 shares of the company’s stock after selling 683 shares during the quarter. Profund Advisors LLC’s holdings in PDD were worth $9,072,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Hollencrest Capital Management purchased a new position in shares of PDD during the first quarter valued at approximately $26,000. Westside Investment Management Inc. boosted its holdings in PDD by 398.0% during the second quarter. Westside Investment Management Inc. now owns 249 shares of the company’s stock worth $26,000 after purchasing an additional 199 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in PDD in the 2nd quarter worth about $28,000. IFP Advisors Inc lifted its position in shares of PDD by 245.8% during the 1st quarter. IFP Advisors Inc now owns 408 shares of the company’s stock worth $48,000 after buying an additional 290 shares in the last quarter. Finally, Activest Wealth Management increased its position in shares of PDD by 139.1% during the 2nd quarter. Activest Wealth Management now owns 837 shares of the company’s stock valued at $88,000 after purchasing an additional 487 shares during the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.

PDD Stock Performance

Shares of PDD opened at $135.78 on Monday. The stock has a market capitalization of $189.03 billion, a PE ratio of 14.73, a PEG ratio of 1.60 and a beta of 0.47. The company has a 50 day moving average price of $130.56 and a 200-day moving average price of $117.27. PDD Holdings Inc. Sponsored ADR has a fifty-two week low of $87.11 and a fifty-two week high of $139.41.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on PDD shares. Weiss Ratings restated a “hold (c+)” rating on shares of PDD in a research report on Wednesday, October 8th. Benchmark reiterated a “buy” rating and issued a $160.00 price target (up previously from $128.00) on shares of PDD in a research note on Tuesday, August 26th. Macquarie set a $165.00 price target on PDD and gave the company an “outperform” rating in a report on Monday, August 25th. New Street Research cut PDD from a “buy” rating to a “neutral” rating and set a $120.00 price target for the company. in a research report on Tuesday, August 26th. Finally, Zacks Research cut shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 27th. Five research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $137.82.

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.