Banco Bilbao Vizcaya Argentaria S.A. Cuts Stake in PDD Holdings Inc. Sponsored ADR $PDD

Banco Bilbao Vizcaya Argentaria S.A. reduced its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 21.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,820 shares of the company’s stock after selling 1,826 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in PDD were worth $704,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Westside Investment Management Inc. lifted its stake in PDD by 398.0% in the second quarter. Westside Investment Management Inc. now owns 249 shares of the company’s stock worth $26,000 after purchasing an additional 199 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in PDD in the second quarter valued at approximately $28,000. IFP Advisors Inc lifted its position in PDD by 245.8% in 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. Activest Wealth Management boosted its stake in shares of PDD by 139.1% during the second 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 period. Finally, Goldstream Capital Management Ltd bought a new stake in PDD in the 1st quarter worth $102,000. 39.83% of the stock is currently owned by institutional investors.

PDD Trading Down 7.3%

Shares of PDD opened at $119.58 on Wednesday. The firm has a fifty day simple moving average of $131.75 and a two-hundred day simple moving average of $118.60. The firm has a market cap of $166.47 billion, a PE ratio of 12.97, a P/E/G ratio of 1.53 and a beta of 0.47. PDD Holdings Inc. Sponsored ADR has a 1-year low of $87.11 and a 1-year high of $139.41.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Sanford C. Bernstein downgraded PDD from an “outperform” rating to a “market perform” rating in a report on Tuesday. Bank of America lifted their price target on shares of PDD from $120.00 to $141.00 and gave the company a “neutral” rating in a research report on Tuesday, August 26th. Macquarie set a $165.00 price objective on PDD and gave the company an “outperform” rating in a research report on Monday, August 25th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of PDD in a research report on Wednesday, October 8th. Finally, Zacks Research cut shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th. Five research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat, PDD presently has a consensus rating of “Hold” and a consensus target price 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.