Vanguard Personalized Indexing Management LLC Purchases 2,546 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Vanguard Personalized Indexing Management LLC boosted its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 19.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,533 shares of the company’s stock after acquiring an additional 2,546 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in PDD were worth $1,626,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in PDD. Mirae Asset Global Investments Co. Ltd. boosted its holdings in PDD by 9,469.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,678,479 shares of the company’s stock valued at $4,695,948,000 after acquiring an additional 39,263,851 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in PDD by 4,562.1% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 14,419,327 shares of the company’s stock valued at $1,706,527,000 after acquiring an additional 14,110,042 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in PDD by 899.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,985,969 shares of the company’s stock worth $1,063,489,000 after buying an additional 8,086,620 shares during the last quarter. Hhlr Advisors LTD. boosted its holdings in PDD by 140.4% during the first quarter. Hhlr Advisors LTD. now owns 6,562,576 shares of the company’s stock worth $776,681,000 after buying an additional 3,832,301 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in PDD by 53.4% during the second quarter. Assenagon Asset Management S.A. now owns 7,394,211 shares of the company’s stock worth $773,878,000 after buying an additional 2,573,065 shares during the last quarter. Institutional investors own 39.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PDD shares. Zacks Research upgraded PDD from a “hold” rating to a “strong-buy” rating in a report on Friday, August 29th. Bank of America raised their target price on PDD from $120.00 to $141.00 and gave the stock a “neutral” rating in a report on Tuesday, August 26th. Jefferies Financial Group set a $146.00 target price on PDD and gave the stock a “buy” rating in a report on Monday, August 25th. Benchmark restated a “buy” rating and set a $160.00 target price (up previously from $128.00) on shares of PDD in a report on Tuesday, August 26th. Finally, Macquarie set a $165.00 price target on PDD and gave the stock an “outperform” rating in a research report on Monday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $137.82.

PDD Price Performance

NASDAQ PDD opened at $128.48 on Friday. The stock’s 50-day moving average is $126.17 and its 200-day moving average is $113.00. PDD Holdings Inc. Sponsored ADR has a one year low of $87.11 and a one year high of $136.84. The firm has a market cap of $178.86 billion, a P/E ratio of 13.93, a P/E/G ratio of 1.51 and a beta of 0.40.

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.