Edmond DE Rothschild Holding S.A. Purchases 6,317 Shares of PDD Holdings Inc. Sponsored ADR $PDD

by · The Markets Daily

Edmond DE Rothschild Holding S.A. lifted its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD – Free Report) by 24.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,533 shares of the company’s stock after purchasing an additional 6,317 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in PDD were worth $3,405,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in PDD by 12.6% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,122,775 shares of the company’s stock worth $117,510,000 after buying an additional 125,356 shares during the period. American Century Companies Inc. grew its stake in shares of PDD by 25.0% in the second quarter. American Century Companies Inc. now owns 754,123 shares of the company’s stock valued at $78,927,000 after acquiring an additional 150,939 shares in the last quarter. AXQ Capital LP bought a new position in PDD during the second quarter worth about $357,000. Franklin Resources Inc. raised its stake in PDD by 11.7% in the 2nd quarter. Franklin Resources Inc. now owns 670,635 shares of the company’s stock worth $70,189,000 after purchasing an additional 70,279 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in PDD by 5.1% in the 2nd quarter. Legal & General Group Plc now owns 4,469,979 shares of the company’s stock valued at $467,827,000 after purchasing an additional 214,910 shares during the period. 39.83% of the stock is currently owned by institutional investors.

PDD Stock Performance

PDD stock opened at $114.00 on Wednesday. The stock has a fifty day moving average of $130.54 and a 200-day moving average of $118.74. The stock has a market capitalization of $158.71 billion, a P/E ratio of 11.90, a price-to-earnings-growth ratio of 1.34 and a beta of 0.47. PDD Holdings Inc. Sponsored ADR has a 52 week low of $87.11 and a 52 week high of $139.41.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on PDD shares. Macquarie set a $165.00 target price 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 price objective on PDD in a research note on Tuesday, November 18th. Wall Street Zen raised PDD from a “hold” rating to a “buy” rating in a report on Saturday. Barclays increased their target price on PDD from $158.00 to $165.00 and gave the stock an “overweight” rating in a report on Tuesday, August 26th. Finally, Zacks Research downgraded PDD from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th. Five analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $137.50.

Check Out Our Latest Stock Report on PDD

About PDD

(Free Report)

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.

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