PDD Holdings Inc. Sponsored ADR $PDD Shares Purchased by Headwater Capital Co Ltd

Headwater Capital Co Ltd increased its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 73.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 260,000 shares of the company’s stock after acquiring an additional 110,000 shares during the quarter. PDD makes up 4.3% of Headwater Capital Co Ltd’s portfolio, making the stock its 5th biggest holding. Headwater Capital Co Ltd’s holdings in PDD were worth $29,481,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PDD. Norges Bank acquired a new stake in PDD during the fourth quarter worth about $1,065,446,000. Assenagon Asset Management S.A. boosted its stake in PDD by 305.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 6,728,909 shares of the company’s stock worth $762,991,000 after buying an additional 5,070,827 shares during the period. Himalaya Capital Management LLC purchased a new position in PDD during the second quarter worth about $482,273,000. Dodge & Cox purchased a new position in PDD during the fourth quarter worth about $503,429,000. Finally, Orbis Allan Gray Ltd boosted its stake in PDD by 135.6% during the second quarter. Orbis Allan Gray Ltd now owns 5,647,728 shares of the company’s stock worth $591,091,000 after buying an additional 3,250,416 shares during the period. 39.83% of the stock is currently owned by institutional investors and hedge funds.

PDD Stock Performance

NASDAQ PDD opened at $81.59 on Wednesday. The firm has a 50 day simple moving average of $94.60 and a 200-day simple moving average of $102.87. PDD Holdings Inc. Sponsored ADR has a one year low of $78.87 and a one year high of $139.41. The firm has a market cap of $116.13 billion, a price-to-earnings ratio of 8.81, a PEG ratio of 0.87 and a beta of -0.01.

PDD (NASDAQ:PDD) last posted its quarterly earnings data on Wednesday, May 27th. The company reported $1.38 EPS for the quarter, missing the consensus estimate of $2.40 by ($1.02). PDD had a net margin of 21.86% and a return on equity of 24.32%. The business had revenue of $15.41 billion during the quarter, compared to analysts’ expectations of $15.92 billion. During the same period in the previous year, the business posted $1.57 EPS. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. Equities analysts predict that PDD Holdings Inc. Sponsored ADR will post 9.92 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Benchmark lowered their target price on shares of PDD from $160.00 to $127.00 and set a “buy” rating for the company in a research note on Thursday, May 28th. Morgan Stanley set a $129.00 target price on shares of PDD in a research note on Wednesday, May 27th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of PDD in a research note on Thursday, May 28th. BNP Paribas Exane assumed coverage on shares of PDD in a research note on Monday. They set an “underperform” rating and a $89.00 target price for the company. Finally, Citigroup lowered their target price on shares of PDD from $142.00 to $123.00 and set a “buy” rating for the company in a research note on Wednesday, May 27th. Seven analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, PDD has an average rating of “Hold” and a consensus target price of $128.08.

PDD Company Profile

PDD (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.