National Bank of Canada FI Grows Stake in PDD Holdings Inc. Sponsored ADR $PDD

National Bank of Canada FI boosted its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 536.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,811,137 shares of the company’s stock after acquiring an additional 1,526,695 shares during the quarter. National Bank of Canada FI owned 0.13% of PDD worth $189,554,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Focus Financial Network Inc. increased its position in shares of PDD by 4.3% during the 2nd quarter. Focus Financial Network Inc. now owns 2,376 shares of the company’s stock valued at $249,000 after purchasing an additional 97 shares during the last quarter. Gunderson Capital Management Inc. raised its holdings in PDD by 5.5% in the 2nd quarter. Gunderson Capital Management Inc. now owns 1,944 shares of the company’s stock worth $203,000 after purchasing an additional 101 shares during the period. Lido Advisors LLC lifted its position in PDD by 4.6% during the second quarter. Lido Advisors LLC now owns 2,633 shares of the company’s stock valued at $276,000 after purchasing an additional 115 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in PDD by 2.8% during the first quarter. Advisors Asset Management Inc. now owns 5,279 shares of the company’s stock valued at $625,000 after purchasing an additional 146 shares during the period. Finally, Westside Investment Management Inc. increased its position in 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 in the last quarter. 39.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Arete downgraded PDD from a “buy” rating to a “neutral” rating and set a $130.00 price objective for the company. in a research note on Tuesday, December 9th. Bank of America dropped their price target on shares of PDD from $141.00 to $140.00 and set a “neutral” rating for the company in a research report on Wednesday, November 19th. Weiss Ratings restated a “hold (c+)” rating on shares of PDD in a research report on Wednesday, October 8th. Arete Research set a $130.00 target price on shares of PDD in a report on Tuesday. Finally, Macquarie set a $165.00 price target on PDD and gave the company an “outperform” rating in a report on Monday, August 25th. Five investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, PDD presently has a consensus rating of “Hold” and an average target price of $136.43.

PDD Trading Down 0.0%

Shares of PDD stock opened at $111.96 on Friday. The firm has a market cap of $155.87 billion, a PE ratio of 11.69, a PEG ratio of 1.32 and a beta of 0.07. The stock has a 50 day moving average of $126.49 and a 200 day moving average of $118.66. PDD Holdings Inc. Sponsored ADR has a 12 month low of $87.11 and a 12 month high of $139.41.

About PDD

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.