Cat Rock Capital Management LP Sells 8,000 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Cat Rock Capital Management LP lessened its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 1.8% during the third quarter, Holdings Channel.com reports. The firm owned 445,228 shares of the company’s stock after selling 8,000 shares during the period. PDD accounts for about 7.3% of Cat Rock Capital Management LP’s portfolio, making the stock its 3rd biggest position. Cat Rock Capital Management LP’s holdings in PDD were worth $58,846,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. TB Alternative Assets Ltd. lifted its position in PDD by 62.5% in the 3rd quarter. TB Alternative Assets Ltd. now owns 345,888 shares of the company’s stock valued at $45,716,000 after acquiring an additional 133,000 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its holdings in PDD by 17.3% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 368,564 shares of the company’s stock worth $48,694,000 after purchasing an additional 54,418 shares in the last quarter. Campbell & CO Investment Adviser LLC purchased a new stake in shares of PDD in the third quarter worth approximately $2,790,000. Nomura Holdings Inc. boosted its position in shares of PDD by 67.1% during the second quarter. Nomura Holdings Inc. now owns 173,637 shares of the company’s stock valued at $18,173,000 after buying an additional 69,728 shares during the last quarter. Finally, Freemont Capital Pte Ltd grew its holdings in PDD by 19.2% during the second quarter. Freemont Capital Pte Ltd now owns 31,000 shares of the company’s stock worth $3,244,000 after buying an additional 5,000 shares in the last quarter. 39.83% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Morgan Stanley set a $148.00 price objective on PDD in a research note on Thursday, January 15th. Arete Research set a $130.00 target price on shares of PDD in a research note on Tuesday, December 9th. Wall Street Zen downgraded shares of PDD from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Loop Capital set a $170.00 price objective on shares of PDD in a research note on Tuesday, January 6th. Finally, Citigroup restated a “neutral” rating on shares of PDD in a research note on Wednesday, January 28th. Four analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $139.87.

PDD Stock Up 1.0%

PDD stock opened at $102.65 on Friday. PDD Holdings Inc. Sponsored ADR has a twelve month low of $87.11 and a twelve month high of $139.41. The firm has a 50 day moving average price of $106.05 and a 200-day moving average price of $118.04. The company has a market capitalization of $142.90 billion, a P/E ratio of 10.72, a P/E/G ratio of 0.90 and a beta of -0.01.

PDD 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.