7,361 PDD Holdings Inc. Sponsored ADR $PDD Shares Bought by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. grew its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 9.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 88,907 shares of the company’s stock after purchasing an additional 7,361 shares during the quarter. Rakuten Investment Management Inc.’s holdings in PDD were worth $6,890,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. acquired a new stake in PDD during the third quarter worth approximately $25,138,000. ProShare Advisors LLC increased its holdings in PDD by 6.1% in the third quarter. ProShare Advisors LLC now owns 681,188 shares of the company’s stock worth $53,092,000 after purchasing an additional 38,990 shares in the last quarter. Vise Technologies Inc. lifted its stake in PDD by 16.4% in the third quarter. Vise Technologies Inc. now owns 12,561 shares of the company’s stock valued at $979,000 after buying an additional 1,770 shares during the period. International Assets Investment Management LLC lifted its stake in PDD by 181.3% in the third quarter. International Assets Investment Management LLC now owns 10,108 shares of the company’s stock valued at $788,000 after buying an additional 6,515 shares during the period. Finally, China Universal Asset Management Co. Ltd. lifted its stake in PDD by 59.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 58,359 shares of the company’s stock valued at $4,523,000 after buying an additional 21,654 shares during the period. 39.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PDD has been the topic of a number of research analyst reports. Arete Research cut PDD from a “buy” rating to a “neutral” rating and set a $93.00 price target on the stock. in a report on Monday, September 7th. Zacks Research upgraded shares of PDD from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 25th. Benchmark lowered their price objective on shares of PDD from $127.00 to $114.00 and set a “buy” rating for the company in a research note on Tuesday, August 25th. JPMorgan Chase & Co. dropped their target price on shares of PDD from $110.00 to $95.00 and set a “neutral” rating on the stock in a research report on Thursday, September 10th. Finally, Bank of America reissued a “neutral” rating on shares of PDD in a research note on Wednesday, August 26th. Six investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $110.31.

PDD Stock Up 2.2%

NASDAQ PDD opened at $83.95 on Friday. The company has a market cap of $119.49 billion, a price-to-earnings 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 52 week low of $71.94 and a 52 week high of $139.12. The business has a 50 day moving average price of $79.86 and a 200-day moving average price of $90.64.

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

PDD Company 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.