Panview Capital Ltd Grows Stock Holdings in PDD Holdings Inc. Sponsored ADR $PDD

Panview Capital Ltd increased its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 44.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 231,700 shares of the company’s stock after purchasing an additional 71,000 shares during the quarter. PDD makes up about 7.7% of Panview Capital Ltd’s holdings, making the stock its 6th biggest position. Panview Capital Ltd’s holdings in PDD were worth $24,250,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PDD. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of PDD by 20.3% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 59,439 shares of the company’s stock worth $6,221,000 after purchasing an additional 10,036 shares during the period. OVERSEA CHINESE BANKING Corp Ltd increased its position 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 worth $1,706,527,000 after buying an additional 14,110,042 shares during the last quarter. Edmond DE Rothschild Holding S.A. raised its stake in shares of PDD by 54.1% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 26,216 shares of the company’s stock valued at $3,103,000 after buying an additional 9,206 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of PDD by 53.4% in the second quarter. Assenagon Asset Management S.A. now owns 7,394,211 shares of the company’s stock valued at $773,878,000 after buying an additional 2,573,065 shares during the period. Finally, Banco BTG Pactual S.A. purchased a new position in shares of PDD during the 1st quarter valued at $537,000. Hedge funds and other institutional investors own 39.83% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on PDD. Benchmark reissued a “buy” rating and issued a $160.00 price objective (up previously from $128.00) on shares of PDD in a report on Tuesday, August 26th. New Street Research lowered shares of PDD from a “buy” rating to a “neutral” rating and set a $120.00 target price for the company. in a research report on Tuesday, August 26th. Jefferies Financial Group set a $146.00 target price on shares of PDD and gave the stock a “buy” rating in a research note on Monday, August 25th. Weiss Ratings restated a “hold (c+)” rating on shares of PDD in a research note on Wednesday, October 8th. Finally, Barclays raised their price objective on shares of PDD from $158.00 to $165.00 and gave the stock an “overweight” rating in a report on Tuesday, August 26th. Five analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, PDD currently has an average rating of “Hold” and an average price target of $137.82.

PDD Stock Performance

Shares of PDD stock opened at $135.78 on Friday. The company has a market capitalization of $189.03 billion, a PE ratio of 14.73, a price-to-earnings-growth ratio of 1.62 and a beta of 0.47. PDD Holdings Inc. Sponsored ADR has a 52-week low of $87.11 and a 52-week high of $139.41. The business’s fifty day moving average is $130.56 and its 200 day moving average is $117.02.

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.