Maple Rock Capital Partners Inc. Sells 96,560 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Maple Rock Capital Partners Inc. reduced its stake in shares of PDD Holdings Inc. (NASDAQ:PDD) by 17.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 454,000 shares of the company’s stock after selling 96,560 shares during the period. PDD makes up approximately 1.3% of Maple Rock Capital Partners Inc.’s holdings, making the stock its 11th biggest holding. Maple Rock Capital Partners Inc.’s holdings in PDD were worth $44,033,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Norges Bank bought a new stake in PDD during the 4th quarter worth about $812,246,000. Sanders Capital LLC acquired a new position in PDD in the 4th quarter valued at $499,972,000. FMR LLC grew 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 valued at $2,483,253,000 after acquiring an additional 4,673,022 shares in the last quarter. FIL Ltd grew its position in shares of PDD by 72.4% during the 4th 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 in the last quarter. Finally, Capital International Investors bought a new position in PDD during the 4th quarter worth $246,823,000. 39.83% of the stock is owned by institutional investors.

PDD Price Performance

PDD opened at $105.97 on Friday. The stock has a market capitalization of $145.80 billion, a P/E ratio of 10.35, a P/E/G ratio of 0.32 and a beta of 0.73. PDD Holdings Inc. has a 52-week low of $87.11 and a 52-week high of $164.69. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. The company’s 50-day simple moving average is $110.60 and its two-hundred day simple moving average is $110.29.

Analyst Ratings Changes

PDD has been the subject of several research analyst reports. Nomura restated a “neutral” rating and set a $130.00 price objective (down from $137.00) on shares of PDD in a research report on Thursday, March 20th. JPMorgan Chase & Co. increased their price objective on PDD from $105.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Jefferies Financial Group dropped their price target on shares of PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a research report on Thursday, March 20th. Citigroup reaffirmed a “neutral” rating on shares of PDD in a research note on Thursday, March 20th. Finally, Benchmark reissued a “buy” rating and set a $160.00 price objective on shares of PDD in a research report on Friday, March 21st. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $169.91.

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.