Headlands Technologies LLC Purchases New Position in PDD Holdings Inc. (NASDAQ:PDD)

Headlands Technologies LLC acquired a new stake in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 15,906 shares of the company's stock, valued at approximately $1,543,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PDD. Gordian Capital Singapore Pte Ltd lifted its stake in PDD by 1,218.9% in the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 6,990 shares of the company's stock valued at $942,000 after purchasing an additional 6,460 shares during the last quarter. Lord Abbett & CO. LLC lifted its stake in shares of PDD by 63.9% in the 3rd quarter. Lord Abbett & CO. LLC now owns 38,235 shares of the company's stock valued at $5,155,000 after acquiring an additional 14,905 shares during the last quarter. Maple Rock Capital Partners Inc. acquired a new stake in shares of PDD during the 3rd quarter valued at $74,221,000. Headwater Capital Co Ltd acquired a new stake in shares of PDD during the 4th quarter valued at $9,699,000. Finally, Baillie Gifford & Co. grew its position in PDD by 5.4% during the 4th quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company's stock worth $3,691,376,000 after acquiring an additional 1,942,891 shares during the last quarter. 39.83% of the stock is currently owned by institutional investors.

PDD Stock Down 4.5 %

Shares of NASDAQ:PDD traded down $5.40 during trading on Thursday, reaching $113.67. 11,745,816 shares of the stock were exchanged, compared to its average volume of 10,725,196. PDD Holdings Inc. has a 1-year low of $88.01 and a 1-year high of $164.69. The stock has a fifty day moving average of $119.28 and a two-hundred day moving average of $114.83. 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 cap of $156.40 billion, a price-to-earnings ratio of 11.10, a price-to-earnings-growth ratio of 0.32 and a beta of 0.73.

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Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PDD shares. Benchmark reaffirmed a "buy" rating and set a $160.00 price target on shares of PDD in a research note on Friday, March 21st. JPMorgan Chase & Co. lifted their target price on shares of PDD from $105.00 to $125.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. Citigroup reaffirmed a "neutral" rating on shares of PDD in a research report on Thursday, March 20th. Jefferies Financial Group cut their target price on PDD from $171.00 to $156.00 and set a "buy" rating on the stock in a research report on Thursday, March 20th. Finally, Nomura reaffirmed a "neutral" rating and set a $130.00 target price (down previously from $137.00) on shares of PDD in a research note on Thursday, March 20th. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, PDD has a consensus rating of "Moderate Buy" and a consensus target price of $169.91.

About PDD

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.