Aberdeen Group plc Acquires 28,033 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Aberdeen Group plc boosted its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 2.2% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,278,666 shares of the company’s stock after buying an additional 28,033 shares during the period. Aberdeen Group plc’s holdings in PDD were worth $133,506,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in PDD. Hollencrest Capital Management bought a new stake in PDD during the first quarter valued at $26,000. Ameritas Advisory Services LLC bought a new stake in PDD during the second quarter valued at $28,000. IFP Advisors Inc boosted its stake in PDD by 245.8% during the first 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 period. Goldstream Capital Management Ltd bought a new stake in PDD during the first quarter valued at $102,000. Finally, Valeo Financial Advisors LLC bought a new stake in PDD during the second quarter worth about $136,000. Institutional investors own 39.83% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Macquarie set a $165.00 price target on PDD and gave the stock an “outperform” rating in a research note on Monday, August 25th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of PDD in a research note on Wednesday. New Street Research lowered PDD from a “buy” rating to a “neutral” rating and set a $120.00 price target for the company. in a research note on Tuesday, August 26th. Bank of America lifted their price target on PDD from $120.00 to $141.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 26th. Finally, Jefferies Financial Group set a $146.00 price target on PDD and gave the stock a “buy” rating in a research note on Monday, August 25th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $137.82.

PDD Trading Down 5.3%

PDD opened at $124.27 on Friday. The company has a market cap of $173.00 billion, a P/E ratio of 13.48, a P/E/G ratio of 1.55 and a beta of 0.40. The business’s 50-day moving average price is $124.75 and its 200-day moving average price is $112.79. PDD Holdings Inc. Sponsored ADR has a 12 month low of $87.11 and a 12 month high of $145.37.

PDD 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.