TD Asset Management Inc Sells 4,186 Shares of PDD Holdings Inc. Sponsored ADR $PDD

TD Asset Management Inc lowered its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 3.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 109,426 shares of the company’s stock after selling 4,186 shares during the period. TD Asset Management Inc’s holdings in PDD were worth $11,453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of PDD. Wealth Enhancement Advisory Services LLC bought a new stake in shares of PDD during the first quarter valued at approximately $1,631,000. Blue Trust Inc. increased its position in PDD by 26.8% in the first quarter. Blue Trust Inc. now owns 3,084 shares of the company’s stock worth $365,000 after purchasing an additional 652 shares during the last quarter. TT International Asset Management LTD bought a new stake in PDD in the first quarter worth $31,398,000. Asset Management One Co. Ltd. increased its position in PDD by 5.5% in the first quarter. Asset Management One Co. Ltd. now owns 167,427 shares of the company’s stock worth $19,815,000 after purchasing an additional 8,707 shares during the last quarter. Finally, Sava Infond d.o.o. increased its position in PDD by 21.7% in the first quarter. Sava Infond d.o.o. now owns 7,300 shares of the company’s stock worth $864,000 after purchasing an additional 1,300 shares during the last quarter. Institutional investors own 39.83% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Jefferies Financial Group set a $146.00 price target on shares of PDD and gave the stock a “buy” rating in a research report on Monday, August 25th. Barclays boosted their price target on shares of PDD from $158.00 to $165.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 26th. Bank of America boosted their price target on shares of PDD from $120.00 to $141.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 26th. Benchmark restated a “buy” rating and issued a $160.00 price target (up previously from $128.00) on shares of PDD in a research report on Tuesday, August 26th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of PDD in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $137.82.

PDD Stock Up 0.9%

NASDAQ PDD opened at $128.48 on Friday. The company has a fifty day moving average of $126.17 and a two-hundred day moving average of $112.96. The firm has a market capitalization of $178.86 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 1.52 and a beta of 0.40. PDD Holdings Inc. Sponsored ADR has a 52 week low of $87.11 and a 52 week high of $136.84.

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.