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

Headwater Capital Co Ltd reduced its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 25.0% in the 3rd quarter, Holdings Channel reports. The firm owned 150,000 shares of the company’s stock after selling 50,000 shares during the quarter. PDD comprises approximately 4.9% of Headwater Capital Co Ltd’s investment portfolio, making the stock its 9th biggest position. Headwater Capital Co Ltd’s holdings in PDD were worth $19,826,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in PDD by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 32,384,722 shares of the company’s stock worth $4,280,289,000 after purchasing an additional 348,997 shares during the last quarter. Norges Bank bought a new stake in PDD in the second quarter valued at about $962,785,000. Sanders Capital LLC boosted its position in shares of PDD by 21.5% during the second quarter. Sanders Capital LLC now owns 8,526,610 shares of the company’s stock worth $892,395,000 after purchasing an additional 1,508,445 shares in the last quarter. Geode Capital Management LLC increased its position in shares of PDD by 4.0% in the 2nd quarter. Geode Capital Management LLC now owns 6,226,538 shares of the company’s stock valued at $646,764,000 after buying an additional 240,627 shares in the last quarter. Finally, Krane Funds Advisors LLC raised its position in shares of PDD by 25.5% during the third quarter. Krane Funds Advisors LLC now owns 6,139,072 shares of the company’s stock worth $792,431,000 after purchasing an additional 1,247,634 shares during the period. Institutional investors own 39.83% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on PDD shares. Loop Capital set a $170.00 target price on shares of PDD in a report on Tuesday, January 6th. Wall Street Zen cut shares of PDD from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Sanford C. Bernstein set a $135.00 price objective on PDD in a report on Tuesday, November 18th. Bank of America lowered their target price on PDD from $141.00 to $140.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 19th. Finally, Arete Research set a $130.00 target price on PDD in a report on Tuesday, December 9th. Four research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $139.87.

PDD Stock Performance

Shares of NASDAQ:PDD opened at $106.90 on Thursday. The company has a 50-day simple moving average of $108.47 and a 200 day simple moving average of $119.48. The company has a market capitalization of $148.82 billion and a P/E ratio of 11.16. PDD Holdings Inc. Sponsored ADR has a 52-week low of $87.11 and a 52-week high of $139.41.

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.