2,585 Shares in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) Bought by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC acquired a new position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 2,585 shares of the company’s stock, valued at approximately $306,000.

Other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new position in shares of PDD in the fourth quarter worth about $812,246,000. Sanders Capital LLC bought a new position in shares of PDD in the fourth quarter worth about $499,972,000. FMR LLC increased its stake in shares of PDD by 22.3% in the fourth quarter. FMR LLC now owns 25,603,183 shares of the company’s stock worth $2,483,253,000 after purchasing an additional 4,673,022 shares during the period. FIL Ltd increased its stake in shares of PDD by 72.4% in the fourth quarter. FIL Ltd now owns 7,978,622 shares of the company’s stock worth $773,847,000 after purchasing an additional 3,350,627 shares during the period. Finally, Capital International Investors bought a new position in shares of PDD in the fourth quarter worth about $246,823,000. 39.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PDD has been the topic of a number of recent analyst reports. Macquarie reiterated an “outperform” rating on shares of PDD in a research note on Tuesday, May 27th. Nomura reaffirmed a “neutral” rating and issued a $130.00 price target (down previously from $137.00) on shares of PDD in a report on Thursday, March 20th. Jefferies Financial Group set a $121.00 price target on PDD and gave the company a “buy” rating in a report on Tuesday, May 27th. Benchmark cut their price target on PDD from $160.00 to $128.00 and set a “buy” rating for the company in a report on Wednesday, May 28th. Finally, China Renaissance reaffirmed a “hold” rating and issued a $107.00 price target on shares of PDD in a report on Wednesday, May 28th. Seven analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $144.55.

PDD Price Performance

NASDAQ PDD opened at $102.25 on Friday. The firm has a market cap of $142.35 billion, a PE ratio of 11.01, a price-to-earnings-growth ratio of 1.45 and a beta of 0.42. 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 $105.04 and its 200 day simple moving average is $108.28.

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.