Headwater Capital Co Ltd Makes New Investment in PDD Holdings Inc. (NASDAQ:PDD)

Headwater Capital Co Ltd bought a new position in PDD Holdings Inc. (NASDAQ:PDD) in the fourth quarter, Holdings Channel.com reports. The institutional investor bought 100,000 shares of the company’s stock, valued at approximately $9,699,000. PDD accounts for approximately 5.2% of Headwater Capital Co Ltd’s portfolio, making the stock its 10th largest holding.

Other large investors have also modified their holdings of the company. Prospera Private Wealth LLC purchased a new stake in shares of PDD during the third quarter worth about $27,000. Venturi Wealth Management LLC purchased a new stake in PDD in the third quarter valued at approximately $29,000. Ashton Thomas Private Wealth LLC purchased a new stake in PDD in the second quarter valued at approximately $32,000. Richardson Financial Services Inc. boosted its position in PDD by 3,883.3% in the second quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock valued at $32,000 after buying an additional 233 shares during the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new stake in PDD in the third quarter valued at approximately $34,000. Hedge funds and other institutional investors own 39.83% of the company’s stock.

PDD Price Performance

PDD stock opened at $94.68 on Monday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. The firm has a market capitalization of $130.27 billion, a P/E ratio of 9.25, a P/E/G ratio of 0.29 and a beta of 0.66. The business’s 50-day moving average is $104.53 and its two-hundred day moving average is $118.26. PDD Holdings Inc. has a 1 year low of $88.01 and a 1 year high of $164.69.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Macquarie upgraded PDD from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $126.00 to $224.00 in a research report on Monday, October 7th. Benchmark reduced their price objective on PDD from $185.00 to $160.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. JPMorgan Chase & Co. downgraded PDD from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $170.00 to $105.00 in a research note on Friday, November 22nd. Dbs Bank downgraded PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Finally, Jefferies Financial Group dropped their target price on PDD from $181.00 to $171.00 and set a “buy” rating for the company in a report on Thursday, November 21st. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, PDD has a consensus rating of “Moderate Buy” and an average price target of $173.40.

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.