California Public Employees Retirement System Has $111.09 Million Stock Holdings in PDD Holdings Inc. Sponsored ADR $PDD

California Public Employees Retirement System grew its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 8.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,061,440 shares of the company’s stock after acquiring an additional 85,343 shares during the period. California Public Employees Retirement System owned 0.08% of PDD worth $111,090,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Westside Investment Management Inc. boosted its holdings 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 in the last quarter. Ameritas Advisory Services LLC acquired a new stake in shares of PDD in the second quarter worth about $28,000. EMC Capital Management acquired a new stake in shares of PDD in the second quarter worth about $52,000. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of PDD during the 2nd quarter worth about $56,000. Finally, Activest Wealth Management increased its holdings in shares of PDD by 139.1% during the 2nd quarter. Activest Wealth Management now owns 837 shares of the company’s stock valued at $88,000 after acquiring an additional 487 shares during the last quarter. Institutional investors own 39.83% of the company’s stock.

PDD Trading Up 0.7%

PDD opened at $117.62 on Monday. The business has a 50 day moving average of $128.34 and a 200-day moving average of $118.70. The stock has a market capitalization of $163.74 billion, a price-to-earnings ratio of 12.28, a P/E/G ratio of 1.39 and a beta of 0.08. 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

Several equities research analysts recently weighed in on the company. Weiss Ratings restated a “hold (c+)” rating on shares of PDD in a report on Wednesday, October 8th. Citigroup reissued a “buy” rating on shares of PDD in a research report on Monday, August 25th. Macquarie set a $165.00 price objective on shares of PDD and gave the stock an “outperform” rating in a report on Monday, August 25th. Sanford C. Bernstein set a $135.00 target price on shares of PDD in a research note on Tuesday, November 18th. Finally, Barclays boosted their target price on shares of PDD from $158.00 to $165.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 26th. Five equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $137.50.

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.