Edmond DE Rothschild Holding S.A. Purchases 6,317 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Edmond DE Rothschild Holding S.A. lifted its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 24.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,533 shares of the company’s stock after acquiring an additional 6,317 shares during the quarter. Edmond DE Rothschild Holding S.A.’s holdings in PDD were worth $3,405,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Envestnet Asset Management Inc. boosted its stake in shares of PDD by 62.0% during the first quarter. Envestnet Asset Management Inc. now owns 19,373 shares of the company’s stock valued at $2,293,000 after purchasing an additional 7,412 shares in the last quarter. IFP Advisors Inc raised its holdings in PDD by 245.8% in the 1st 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. AE Wealth Management LLC boosted its position in PDD by 3.8% during the 1st quarter. AE Wealth Management LLC now owns 6,209 shares of the company’s stock worth $735,000 after buying an additional 229 shares during the period. Avantax Advisory Services Inc. bought a new stake in PDD during the 1st quarter worth approximately $225,000. Finally, Mackenzie Financial Corp increased its position in PDD by 40.7% in the 1st quarter. Mackenzie Financial Corp now owns 344,076 shares of the company’s stock valued at $40,721,000 after acquiring an additional 99,467 shares during the period. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Trading Up 0.4%

PDD stock opened at $114.00 on Wednesday. The firm has a market cap of $158.71 billion, a PE ratio of 11.90, a price-to-earnings-growth ratio of 1.34 and a beta of 0.47. The stock has a 50-day moving average price of $130.54 and a 200-day moving average price of $118.74. PDD Holdings Inc. Sponsored ADR has a 1-year low of $87.11 and a 1-year high of $139.41.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PDD. Weiss Ratings reiterated a “hold (c+)” rating on shares of PDD in a report on Wednesday, October 8th. Wall Street Zen raised PDD from a “hold” rating to a “buy” rating in a report on Saturday. Jefferies Financial Group set a $146.00 price target on PDD and gave the company a “buy” rating in a research note on Monday, August 25th. Sanford C. Bernstein set a $135.00 price objective on PDD in a research report on Tuesday, November 18th. Finally, Bank of America reduced their target price on PDD from $141.00 to $140.00 and set a “neutral” rating on the stock in a report on Wednesday, November 19th. Five research analysts have rated the stock with a Buy rating and ten have issued 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 $137.50.

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.