PDD Holdings Inc. Sponsored ADR $PDD Shares Purchased by Blue Trust Inc.

Blue Trust Inc. raised its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 23.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,820 shares of the company’s stock after buying an additional 736 shares during the period. Blue Trust Inc.’s holdings in PDD were worth $400,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PDD. GAMMA Investing LLC increased its stake in shares of PDD by 16,268.1% during the first quarter. GAMMA Investing LLC now owns 7,693 shares of the company’s stock valued at $910,000 after acquiring an additional 7,646 shares during the period. Farther Finance Advisors LLC grew its holdings in PDD by 480.5% during the first quarter. Farther Finance Advisors LLC now owns 3,245 shares of the company’s stock worth $396,000 after acquiring an additional 2,686 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in PDD during the first quarter worth about $1,631,000. Exchange Traded Concepts LLC grew its holdings in PDD by 10.7% during the first quarter. Exchange Traded Concepts LLC now owns 20,930 shares of the company’s stock worth $2,477,000 after acquiring an additional 2,027 shares during the period. Finally, Sagespring Wealth Partners LLC acquired a new position in PDD during the first quarter worth about $306,000. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Stock Performance

Shares of PDD opened at $127.55 on Tuesday. The company’s 50 day moving average price is $125.06 and its 200 day moving average price is $112.69. PDD Holdings Inc. Sponsored ADR has a 52 week low of $87.11 and a 52 week high of $142.39. The company has a market capitalization of $177.57 billion, a PE ratio of 13.83, a PEG ratio of 1.47 and a beta of 0.40.

Wall Street Analysts Forecast Growth

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