Frank Rimerman Advisors LLC Invests $252,000 in PDD Holdings Inc. Sponsored ADR $PDD

Frank Rimerman Advisors LLC purchased a new stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 2,411 shares of the company’s stock, valued at approximately $252,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Westside Investment Management Inc. boosted its holdings in shares of PDD by 398.0% in the second quarter. Westside Investment Management Inc. now owns 249 shares of the company’s stock worth $26,000 after buying an additional 199 shares during the period. Ameritas Advisory Services LLC purchased a new stake in shares of PDD in the 2nd quarter valued at approximately $28,000. IFP Advisors Inc boosted its stake in PDD by 245.8% in the 1st quarter. IFP Advisors Inc now owns 408 shares of the company’s stock worth $48,000 after purchasing an additional 290 shares during the period. Activest Wealth Management boosted its stake in PDD by 139.1% in the 2nd quarter. Activest Wealth Management now owns 837 shares of the company’s stock worth $88,000 after purchasing an additional 487 shares during the period. Finally, Goldstream Capital Management Ltd purchased a new position in PDD during the 1st quarter worth approximately $102,000. Institutional investors and hedge funds own 39.83% of the company’s stock.

Wall Street Analyst Weigh In

PDD has been the subject of a number of research analyst reports. New Street Research lowered PDD from a “buy” rating to a “neutral” rating and set a $120.00 target price for the company. in a report on Tuesday, August 26th. Zacks Research lowered PDD from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 27th. Weiss Ratings restated a “hold (c+)” rating on shares of PDD in a research report on Wednesday, October 8th. Macquarie set a $165.00 target price on PDD and gave the company an “outperform” rating in a report on Monday, August 25th. Finally, Sanford C. Bernstein set a $135.00 price target on shares of PDD in a report on Tuesday. Five investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $137.50.

PDD Price Performance

Shares of PDD stock opened at $112.93 on Friday. PDD Holdings Inc. Sponsored ADR has a fifty-two week low of $87.11 and a fifty-two week high of $139.41. The stock’s 50-day moving average is $131.36 and its two-hundred day moving average is $118.56. The firm has a market cap of $157.22 billion, a P/E ratio of 11.79, a PEG ratio of 1.39 and a beta of 0.47.

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.