PDD Holdings Inc. Sponsored ADR $PDD Shares Sold by Swiss National Bank

Swiss National Bank decreased its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 0.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,573,844 shares of the company’s stock after selling 3,400 shares during the quarter. Swiss National Bank’s holdings in PDD were worth $164,719,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of PDD. Westside Investment Management Inc. increased its stake in PDD by 398.0% in the 2nd quarter. Westside Investment Management Inc. now owns 249 shares of the company’s stock valued at $26,000 after buying an additional 199 shares during the period. Ameritas Advisory Services LLC acquired a new stake in shares of PDD during the second quarter valued at $28,000. IFP Advisors Inc grew 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 acquiring an additional 290 shares during the period. EMC Capital Management purchased a new position in shares of PDD during the 2nd quarter worth about $52,000. Finally, Bank Julius Baer & Co. Ltd Zurich acquired a new position in PDD in the second quarter valued at $56,000. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PDD. Sanford C. Bernstein set a $135.00 target price on PDD in a research note on Tuesday. Macquarie set a $165.00 target price on PDD and gave the company an “outperform” rating in a research note on Monday, August 25th. Wall Street Zen raised shares of PDD from a “hold” rating to a “buy” rating in a report on Saturday. Bank of America cut their target price on PDD from $141.00 to $140.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Citigroup reaffirmed a “buy” rating on shares of PDD in a research note on Monday, August 25th. Five equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, PDD has an average rating of “Hold” and a consensus price target of $137.50.

PDD Stock Performance

NASDAQ PDD opened at $113.24 on Friday. The firm’s 50 day moving average price is $131.12 and its two-hundred day moving average price is $118.57. PDD Holdings Inc. Sponsored ADR has a twelve month low of $87.11 and a twelve month high of $139.41. The stock has a market cap of $157.65 billion, a price-to-earnings ratio of 11.82, a PEG ratio of 1.33 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.