Headwater Capital Co Ltd Makes New $9.70 Million Investment in PDD Holdings Inc. (NASDAQ:PDD)

Headwater Capital Co Ltd purchased a new position in PDD Holdings Inc. (NASDAQ:PDD) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 100,000 shares of the company’s stock, valued at approximately $9,699,000. PDD comprises about 5.2% of Headwater Capital Co Ltd’s portfolio, making the stock its 10th largest position.

Other large investors have also added to or reduced their stakes in the company. Prospera Private Wealth LLC purchased a new stake in PDD during the 3rd quarter valued at about $27,000. Venturi Wealth Management LLC bought a new position in shares of PDD in the 3rd quarter worth approximately $29,000. Ashton Thomas Private Wealth LLC bought a new position in shares of PDD in the 2nd quarter worth approximately $32,000. Richardson Financial Services Inc. lifted its stake in shares of PDD by 3,883.3% in the 2nd quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock worth $32,000 after purchasing an additional 233 shares during the period. Finally, Future Financial Wealth Managment LLC bought a new stake in PDD during the 3rd quarter worth approximately $34,000. Institutional investors own 39.83% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PDD shares. Benchmark reduced their price objective on shares of PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Dbs Bank cut shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. Macquarie upgraded shares of PDD from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $126.00 to $224.00 in a research report on Monday, October 7th. JPMorgan Chase & Co. lowered shares of PDD from an “overweight” rating to a “neutral” rating and cut their target price for the company from $170.00 to $105.00 in a report on Friday, November 22nd. Finally, Jefferies Financial Group cut their target price on shares of PDD from $181.00 to $171.00 and set a “buy” rating for the company in a report on Thursday, November 21st. Three research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $173.40.

PDD Stock Performance

PDD stock opened at $94.68 on Monday. The company has a market capitalization of $130.27 billion, a P/E ratio of 9.25, a PEG ratio of 0.29 and a beta of 0.66. 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 business has a 50-day moving average price of $104.53 and a 200 day moving average price of $118.26. PDD Holdings Inc. has a 1-year low of $88.01 and a 1-year high of $164.69.

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.