PDD Holdings Inc. Sponsored ADR $PDD Shares Sold by WT Asset Management Ltd

WT Asset Management Ltd decreased its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 98.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,000 shares of the company’s stock after selling 434,250 shares during the quarter. WT Asset Management Ltd’s holdings in PDD were worth $523,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in PDD. Focus Financial Network Inc. grew its stake in PDD by 4.3% in the 2nd quarter. Focus Financial Network Inc. now owns 2,376 shares of the company’s stock valued at $249,000 after acquiring an additional 97 shares during the period. Signaturefd LLC grew its stake in PDD by 1.3% in the 1st quarter. Signaturefd LLC now owns 8,957 shares of the company’s stock valued at $1,060,000 after acquiring an additional 119 shares during the period. Advisors Asset Management Inc. grew its stake in PDD by 2.8% in the 1st quarter. Advisors Asset Management Inc. now owns 5,279 shares of the company’s stock valued at $625,000 after acquiring an additional 146 shares during the period. Lindbrook Capital LLC grew its stake in PDD by 11.5% in the 1st quarter. Lindbrook Capital LLC now owns 1,930 shares of the company’s stock valued at $228,000 after acquiring an additional 199 shares during the period. Finally, Hollencrest Capital Management acquired a new stake in PDD in the 1st quarter valued at $26,000. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Stock Performance

Shares of PDD stock opened at $134.25 on Friday. The stock’s fifty day moving average is $122.98 and its two-hundred day moving average is $112.65. The firm has a market capitalization of $186.90 billion, a P/E ratio of 14.56, a PEG ratio of 1.60 and a beta of 0.40. PDD Holdings Inc. Sponsored ADR has a fifty-two week low of $87.11 and a fifty-two week high of $155.67.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Barclays lifted their price target on shares of PDD from $158.00 to $165.00 and gave the company an “overweight” rating in a research note on Tuesday, August 26th. Zacks Research raised shares of PDD from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 29th. New Street Research lowered PDD from a “buy” rating to a “neutral” rating and set a $120.00 price objective on the stock. in a report on Tuesday, August 26th. Citigroup restated a “buy” rating on shares of PDD in a report on Monday, August 25th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of PDD in a report on Saturday, September 27th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus 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.