Headwater Capital Co Ltd Purchases 110,000 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Headwater Capital Co Ltd boosted its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 73.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 260,000 shares of the company’s stock after buying an additional 110,000 shares during the quarter. PDD makes up approximately 5.7% of Headwater Capital Co Ltd’s holdings, making the stock its 4th largest holding. Headwater Capital Co Ltd’s holdings in PDD were worth $29,481,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Exchange Traded Concepts LLC lifted its holdings in PDD by 11.7% during the 4th quarter. Exchange Traded Concepts LLC now owns 242,722 shares of the company’s stock worth $27,522,000 after buying an additional 25,369 shares in the last quarter. Step Capital Management Pte. Ltd. acquired a new position in PDD during the 4th quarter worth $8,504,000. LBP AM SA acquired a new position in shares of PDD in the 4th quarter valued at $6,690,000. Triata Capital Ltd lifted its stake in shares of PDD by 55.7% in the 3rd quarter. Triata Capital Ltd now owns 2,544,478 shares of the company’s stock valued at $336,304,000 after purchasing an additional 910,150 shares during the period. Finally, Aspex Management HK Ltd acquired a new position in shares of PDD in the 3rd quarter valued at $419,287,000. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Stock Down 0.6%

PDD stock opened at $81.30 on Friday. PDD Holdings Inc. Sponsored ADR has a twelve month low of $78.87 and a twelve month high of $139.41. The business’s fifty day moving average is $95.73 and its 200-day moving average is $103.55. The company has a market cap of $115.72 billion, a P/E ratio of 8.78, a price-to-earnings-growth ratio of 0.85 and a beta of -0.02.

PDD (NASDAQ:PDD) last released its quarterly earnings data on Wednesday, May 27th. The company reported $1.38 EPS for the quarter, missing analysts’ consensus estimates of $2.40 by ($1.02). PDD had a net margin of 21.86% and a return on equity of 24.32%. The firm had revenue of $15.41 billion during the quarter, compared to the consensus estimate of $15.92 billion. During the same quarter in the prior year, the company earned $1.57 EPS. PDD’s quarterly revenue was up 11.0% on a year-over-year basis. Research analysts anticipate that PDD Holdings Inc. Sponsored ADR will post 9.92 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. The Goldman Sachs Group reissued a “buy” rating on shares of PDD in a research note on Thursday, May 28th. Citigroup cut their price target on PDD from $142.00 to $123.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. Morgan Stanley set a $129.00 price target on PDD in a research note on Wednesday, May 27th. Jefferies Financial Group reissued a “buy” rating on shares of PDD in a research note on Wednesday, May 27th. Finally, Barclays downgraded PDD from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $165.00 to $89.00 in a research note on Thursday, May 28th. Seven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, PDD has an average rating of “Moderate Buy” and a consensus price target of $131.33.

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.