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

Headwater Capital Co Ltd boosted its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 73.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 260,000 shares of the company’s stock after acquiring an additional 110,000 shares during the period. PDD comprises about 4.3% of Headwater Capital Co Ltd’s holdings, 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 SEC.

A number of other large investors also recently added to or reduced their stakes in PDD. Norges Bank acquired a new position in PDD during the fourth quarter worth $1,065,446,000. Assenagon Asset Management S.A. raised its position 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 acquiring an additional 5,070,827 shares during the period. Himalaya Capital Management LLC acquired a new position in PDD during the second quarter worth $482,273,000. Dodge & Cox acquired a new position in PDD during the fourth quarter worth $503,429,000. Finally, Orbis Allan Gray Ltd raised its position 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 acquiring an additional 3,250,416 shares during the period. 39.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PDD. Arete Research upgraded shares of PDD from a “neutral” rating to a “buy” rating and set a $121.00 price objective for the company in a research report on Friday, April 17th. BNP Paribas Exane began coverage on shares of PDD in a research report on Monday. They set an “underperform” rating and a $89.00 price objective for the company. The Goldman Sachs Group restated a “buy” rating on shares of PDD in a research report on Thursday, May 28th. Barclays cut shares of PDD from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $165.00 to $89.00 in a research report on Thursday, May 28th. Finally, Citigroup reduced their target price on shares of PDD from $142.00 to $123.00 and set a “buy” rating for the company in a research report on Wednesday, May 27th. Seven research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $128.08.

PDD Stock Down 2.3%

Shares of NASDAQ PDD opened at $81.59 on Wednesday. PDD Holdings Inc. Sponsored ADR has a 52 week low of $78.87 and a 52 week high of $139.41. The firm has a 50-day simple moving average of $94.60 and a 200-day simple moving average of $102.87. The stock has a market capitalization of $116.13 billion, a price-to-earnings ratio of 8.81, a price-to-earnings-growth ratio of 0.87 and a beta of -0.01.

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

About PDD

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.