PDD Holdings Inc. Sponsored ADR $PDD Shares Bought by International Assets Investment Management LLC

International Assets Investment Management LLC boosted its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 31.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,905 shares of the company’s stock after buying an additional 700 shares during the period. International Assets Investment Management LLC’s holdings in PDD were worth $304,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in PDD. Hollencrest Capital Management acquired a new position in PDD during the first quarter worth approximately $26,000. Ameritas Advisory Services LLC purchased a new position in shares of PDD in the 2nd quarter valued at approximately $28,000. IFP Advisors Inc grew its stake in shares of PDD by 245.8% in the 1st quarter. IFP Advisors Inc now owns 408 shares of the company’s stock valued at $48,000 after purchasing an additional 290 shares during the last quarter. Activest Wealth Management grew its stake in shares of PDD by 139.1% in the 2nd quarter. Activest Wealth Management now owns 837 shares of the company’s stock valued at $88,000 after purchasing an additional 487 shares during the last quarter. Finally, Goldstream Capital Management Ltd purchased a new position in shares of PDD in the 1st quarter valued at approximately $102,000. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Stock Down 0.5%

Shares of NASDAQ PDD opened at $130.06 on Thursday. The stock’s 50 day moving average price is $127.09 and its two-hundred day moving average price is $113.38. PDD Holdings Inc. Sponsored ADR has a 52-week low of $87.11 and a 52-week high of $136.84. The stock has a market capitalization of $181.06 billion, a P/E ratio of 14.11, a PEG ratio of 1.54 and a beta of 0.40.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Zacks Research upgraded PDD from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 29th. Jefferies Financial Group set a $146.00 target price on PDD and gave the stock a “buy” rating in a research report on Monday, August 25th. Benchmark reissued a “buy” rating and issued a $160.00 price target (up from $128.00) on shares of PDD in a report on Tuesday, August 26th. Barclays boosted their price target on PDD from $158.00 to $165.00 and gave the stock an “overweight” rating in a report on Tuesday, August 26th. Finally, New Street Research lowered PDD from a “buy” rating to a “neutral” rating and set a $120.00 target price for the company. in a research note on Tuesday, August 26th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, PDD presently has a consensus rating of “Hold” and an average price target of $137.82.

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.