PDD Holdings Inc. Sponsored ADR $PDD Stock Acquired by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. boosted its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 9.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 88,907 shares of the company’s stock after acquiring an additional 7,361 shares during the quarter. Rakuten Investment Management Inc.’s holdings in PDD were worth $6,890,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. H&H International Investment LLC lifted its holdings in shares of PDD by 71.2% in the first quarter. H&H International Investment LLC now owns 19,748,294 shares of the company’s stock valued at $2,017,881,000 after purchasing an additional 8,211,600 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of PDD during the third quarter valued at approximately $202,907,000. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of PDD by 126.4% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,609,370 shares of the company’s stock valued at $164,445,000 after buying an additional 898,639 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of PDD by 306.2% during the first quarter. Renaissance Technologies LLC now owns 1,112,700 shares of the company’s stock valued at $113,696,000 after buying an additional 838,800 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its position in shares of PDD by 40.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,121,534 shares of the company’s stock valued at $87,412,000 after buying an additional 325,066 shares during the last quarter. Institutional investors and hedge funds own 39.83% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Bank of America reiterated a “neutral” rating on shares of PDD in a report on Wednesday, August 26th. JPMorgan Chase & Co. dropped their price objective on PDD from $110.00 to $95.00 and set a “neutral” rating on the stock in a research note on Thursday, September 10th. Benchmark cut their price objective on shares of PDD from $127.00 to $114.00 and set a “buy” rating on the stock in a report on Tuesday, August 25th. Weiss Ratings raised shares of PDD from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, October 27th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of PDD from a “hold” rating to a “buy” rating in a research note on Thursday, October 29th. Six analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $110.31.

PDD Price Performance

Shares of PDD stock opened at $83.95 on Friday. The firm has a market cap of $119.49 billion, a PE ratio of 9.05, a P/E/G ratio of 0.65 and a beta of -0.03. PDD Holdings Inc. Sponsored ADR has a 1 year low of $71.94 and a 1 year high of $139.12. The stock has a fifty day moving average price of $79.86 and a 200-day moving average price of $90.64.

PDD (NASDAQ:PDD) last issued its quarterly earnings results on Friday, August 14th. The company reported $2.84 earnings per share for the quarter. The company had revenue of $16.54 billion for the quarter. PDD had a net margin of 20.73% and a return on equity of 22.29%. As a group, equities analysts anticipate that PDD Holdings Inc. Sponsored ADR will post 10.02 EPS for the current fiscal year.

PDD Profile

PDD Holdings Inc is a multinational commerce group that operates online marketplace platforms connecting consumers with merchants, manufacturers and agricultural producers. The company’s platforms use interactive shopping features, including group purchasing and personalized product discovery, to offer a broad range of merchandise at competitive prices.

PDD Holdings’ businesses include Pinduoduo, an e-commerce platform serving consumers in China, and Temu, an online marketplace launched in 2022 that serves consumers across multiple international markets, including North America, Europe and other regions.