PDD Holdings Inc. Sponsored ADR $PDD Holdings Lifted by Focus Financial Network Inc.

Focus Financial Network Inc. increased its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 4.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,376 shares of the company’s stock after buying an additional 97 shares during the quarter. Focus Financial Network Inc.’s holdings in PDD were worth $249,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Hollencrest Capital Management purchased a new position in shares of PDD during the first quarter valued at $26,000. IFP Advisors Inc boosted its position in PDD by 245.8% during the first 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. Goldstream Capital Management Ltd acquired a new stake in PDD during the first quarter valued at $102,000. OneDigital Investment Advisors LLC acquired a new stake in PDD during the first quarter valued at $204,000. Finally, Gunderson Capital Management Inc. acquired a new stake in PDD during the first quarter valued at $218,000. Hedge funds and other institutional investors own 39.83% of the company’s stock.

Analyst Ratings Changes

PDD has been the subject of a number of research reports. China Renaissance reissued a “hold” rating and set a $107.00 price objective on shares of PDD in a research report on Wednesday, May 28th. Benchmark reiterated a “buy” rating and issued a $160.00 price objective (up from $128.00) on shares of PDD in a research note on Tuesday, August 26th. JPMorgan Chase & Co. dropped their price objective on PDD from $125.00 to $105.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 28th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $112.00 price objective on shares of PDD in a research note on Wednesday, May 28th. Finally, Citigroup reaffirmed a “buy” rating on shares of PDD in a report on Monday, August 25th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, PDD has a consensus rating of “Moderate Buy” and an average price target of $137.82.

PDD Price Performance

NASDAQ PDD opened at $129.47 on Monday. The firm has a market cap of $180.24 billion, a PE ratio of 14.04, a price-to-earnings-growth ratio of 1.53 and a beta of 0.46. PDD Holdings Inc. Sponsored ADR has a one year low of $87.11 and a one year high of $155.67. The stock’s 50 day simple moving average is $118.89 and its 200 day simple moving average is $111.80.

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.