Sava Infond d.o.o. Sells 1,200 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Sava Infond d.o.o. reduced its stake in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 16.4% in the second quarter, Holdings Channel.com reports. The institutional investor owned 6,100 shares of the company’s stock after selling 1,200 shares during the period. Sava Infond d.o.o.’s holdings in PDD were worth $638,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Hollencrest Capital Management bought a new position in PDD in the first quarter worth about $26,000. Ameritas Advisory Services LLC bought a new position in PDD in the second quarter worth about $28,000. IFP Advisors Inc raised its stake in PDD by 245.8% in the first quarter. IFP Advisors Inc now owns 408 shares of the company’s stock worth $48,000 after buying an additional 290 shares in the last quarter. Goldstream Capital Management Ltd bought a new position in PDD in the first quarter worth about $102,000. Finally, OneDigital Investment Advisors LLC bought a new position in PDD in the first quarter worth about $204,000. 39.83% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PDD has been the subject of a number of research reports. Bank of America increased their price target on shares of PDD from $120.00 to $141.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 26th. New Street Research downgraded shares of 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. Citigroup reaffirmed a “buy” rating on shares of PDD in a research note on Monday, August 25th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of PDD in a research note on Saturday, September 27th. Finally, Barclays raised 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. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, PDD presently has a consensus rating of “Hold” and an average target price of $137.82.

PDD Stock Performance

Shares of NASDAQ PDD opened at $134.25 on Friday. PDD Holdings Inc. Sponsored ADR has a fifty-two week low of $87.11 and a fifty-two week high of $155.67. The company has a 50 day simple moving average of $122.98 and a two-hundred day simple moving average of $112.65. The company has a market capitalization of $186.90 billion, a price-to-earnings ratio of 14.56, a P/E/G ratio of 1.60 and a beta of 0.40.

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.