PDD Holdings Inc. Sponsored ADR $PDD Shares Purchased by ABS Direct Equity Fund LLC

ABS Direct Equity Fund LLC increased its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 78.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 43,033 shares of the company's stock after buying an additional 18,934 shares during the period. PDD comprises 8.1% of ABS Direct Equity Fund LLC's portfolio, making the stock its 2nd largest holding. ABS Direct Equity Fund LLC's holdings in PDD were worth $5,688,000 as of its most recent filing with the Securities and Exchange Commission.Go on a Shopping Spree With 3 Top Retail ETFsSeveral other institutional investors and hedge funds also recently added to or reduced their stakes in PDD. Raymond James Financial Inc. lifted its position in shares of PDD by 21.8% during the 1st quarter. Raymond James Financial Inc. now owns 39,118 shares of the company's stock valued at $4,630,000 after acquiring an additional 7,013 shares during the period. Wellington Management Group LLP grew its holdings in shares of PDD by 20.6% in the 1st quarter. Wellington Management Group LLP now owns 950,922 shares of the company's stock worth $112,542,000 after acquiring an additional 162,412 shares during the period. CW Advisors LLC purchased a new position in PDD in the 1st quarter valued at approximately $237,000. Norinchukin Bank The raised its holdings in PDD by 177.5% during the first quarter. Norinchukin Bank The now owns 17,919 shares of the company's stock worth $2,121,000 after purchasing an additional 11,461 shares during the last quarter. Finally, Compound Planning Inc. raised its holdings in PDD by 18.8% during the first quarter. Compound Planning Inc. now owns 8,051 shares of the company's stock worth $953,000 after purchasing an additional 1,273 shares during the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds. PDD Stock PerformanceShares of PDD opened at $109.51 on Friday. PDD Holdings Inc. Sponsored ADR has a 1 year low of $87.11 and a 1 year high of $139.41. The company's 50 day simple moving average is $124.14 and its 200 day simple moving average is $118.88. The company has a market capitalization of $152.45 billion, a price-to-earnings ratio of 11.43, a PEG ratio of 1.19 and a beta of 0.07. Wall Street Analyst Weigh InThese 3 Chinese Stocks Could Be a Ticking Time Bomb of GrowthPDD has been the topic of several research reports. Jefferies Financial Group set a $146.00 target price on PDD and gave the company a "buy" rating in a report on Monday, August 25th. Wall Street Zen upgraded shares of PDD from a "hold" rating to a "buy" rating in a report on Saturday, November 22nd. Bank of America cut their target price on shares of PDD from $141.00 to $140.00 and set a "neutral" rating for the company in a research report on Wednesday, November 19th. Sanford C. Bernstein set a $135.00 price target on shares of PDD in a research report on Tuesday, November 18th. Finally, Macquarie set a $165.00 price objective on shares of PDD and gave the stock an "outperform" rating in a research note on Monday, August 25th. Five investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $136.43.Check Out Our Latest Report on PDDAbout PDD (Free Report)China Market Movers: MCHI, PDD, BIDU Show Bullish TrendsPDD NASDAQ: PDD is the holding company best known for operating Pinduoduo, a China-based, mobile-first e-commerce platform that emphasizes interactive, social shopping and group-buying mechanics to drive user engagement and low prices. Founded in 2015 by entrepreneur Colin Huang, the business has grown by connecting consumers directly with merchants and manufacturers, with particular emphasis on value-oriented goods and fresh agricultural produce. The company is based in Shanghai and completed a U.S.Read MoreFive stocks we like better than PDDBusiness Services Stocks InvestingNike Beats on Earnings But Struggles in China and Faces TariffsValue Investing: Is it a Good Strategy in 2022? Hint: AlwaysIs the AI Boom a Bubble? These 2 Dividend Stocks Say NoWhat is a Special Dividend?4 High-Potential ETFs for 2026: Small Caps, Space Stocks, and MoreThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in PDD Right Now?Before you consider PDD, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and PDD wasn't on the list.While PDD currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here