Vise Technologies Inc. Buys New Shares in PDD Holdings Inc. Sponsored ADR $PDD

Vise Technologies Inc. acquired a new position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 11,984 shares of the company’s stock, valued at approximately $1,254,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in PDD. ProShare Advisors LLC raised its holdings in PDD by 2.4% in the 2nd quarter. ProShare Advisors LLC now owns 944,483 shares of the company’s stock worth $98,850,000 after purchasing an additional 22,155 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in PDD by 6.8% in the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 756,387 shares of the company’s stock valued at $79,163,000 after purchasing an additional 48,169 shares in the last quarter. Panview Capital Ltd boosted its stake in PDD by 44.2% during the 2nd quarter. Panview Capital Ltd now owns 231,700 shares of the company’s stock worth $24,250,000 after purchasing an additional 71,000 shares during the last quarter. Aviva PLC raised its position in shares of PDD by 1.5% in the second quarter. Aviva PLC now owns 618,819 shares of the company’s stock valued at $64,766,000 after buying an additional 9,121 shares during the last quarter. Finally, Yunqi Capital Ltd purchased a new position in shares of PDD in the second quarter worth about $10,989,000. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Stock Performance

NASDAQ PDD opened at $136.48 on Thursday. PDD Holdings Inc. Sponsored ADR has a one year low of $87.11 and a one year high of $139.41. The firm has a 50 day simple moving average of $131.46 and a 200-day simple moving average of $117.88. The firm has a market cap of $190.00 billion, a price-to-earnings ratio of 14.82, a PEG ratio of 1.62 and a beta of 0.47.

Analyst Upgrades and Downgrades

PDD has been the topic of a number of research reports. Barclays raised their target price on shares of PDD from $158.00 to $165.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 26th. Weiss Ratings reiterated a “hold (c+)” rating on shares of PDD in a report on Wednesday, October 8th. Bank of America upped their price objective on shares of PDD from $120.00 to $141.00 and gave the company a “neutral” rating in a report on Tuesday, August 26th. Benchmark reaffirmed a “buy” rating and set a $160.00 target price (up from $128.00) on shares of PDD in a research note on Tuesday, August 26th. Finally, Zacks Research cut shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th. Five investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, PDD presently has a consensus rating of “Hold” and an average price target of $137.82.

About PDD

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.