Sagespring Wealth Partners LLC Has $307,000 Stock Position in PDD Holdings Inc. Sponsored ADR $PDD

Sagespring Wealth Partners LLC increased its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 13.4% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 2,931 shares of the company’s stock after buying an additional 346 shares during the quarter. Sagespring Wealth Partners LLC’s holdings in PDD were worth $307,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of PDD. Focus Financial Network Inc. boosted its holdings in PDD by 4.3% during the second 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. Gunderson Capital Management Inc. lifted its position in shares of PDD by 5.5% during 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 last quarter. Signaturefd LLC boosted its stake in PDD by 1.3% during the 1st quarter. Signaturefd LLC now owns 8,957 shares of the company’s stock valued at $1,060,000 after purchasing an additional 119 shares during the period. Advisors Asset Management Inc. grew its holdings 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 buying an additional 146 shares during the last quarter. Finally, Lindbrook Capital LLC grew its holdings 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 buying an additional 199 shares during the last quarter. Institutional investors own 39.83% of the company’s stock.

PDD Trading Up 0.9%

Shares of NASDAQ PDD opened at $128.48 on Friday. The firm has a market capitalization of $178.86 billion, a price-to-earnings ratio of 13.93, a PEG ratio of 1.51 and a beta of 0.40. PDD Holdings Inc. Sponsored ADR has a one year low of $87.11 and a one year high of $136.84. The business has a fifty day simple moving average of $126.17 and a 200 day simple moving average of $113.00.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PDD. Jefferies Financial Group set a $146.00 price objective on PDD and gave the company a “buy” rating in a research report on Monday, August 25th. Barclays upped their target price 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. Weiss Ratings restated a “hold (c+)” rating on shares of PDD in a research report on Wednesday, October 8th. New Street Research downgraded shares of 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. Finally, Citigroup reiterated a “buy” rating on shares of PDD in a research note on Monday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, PDD has a consensus rating of “Hold” and an average price target of $137.82.

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.