Headwater Capital Co Ltd Purchases Shares of 100,000 PDD Holdings Inc. (NASDAQ:PDD)

Headwater Capital Co Ltd purchased a new position in PDD Holdings Inc. (NASDAQ:PDD - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 100,000 shares of the company's stock, valued at approximately $9,699,000. PDD makes up approximately 5.2% of Headwater Capital Co Ltd's investment portfolio, making the stock its 10th biggest holding.

Several other hedge funds have also bought and sold shares of PDD. Prospera Private Wealth LLC bought a new stake in PDD in the third quarter worth $27,000. Venturi Wealth Management LLC purchased a new position in shares of PDD in the 3rd quarter worth $29,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of PDD in the 2nd quarter worth about $32,000. Richardson Financial Services Inc. raised its position in shares of PDD by 3,883.3% during the 2nd quarter. Richardson Financial Services Inc. now owns 239 shares of the company's stock valued at $32,000 after buying an additional 233 shares in the last quarter. Finally, Future Financial Wealth Managment LLC bought a new position in shares of PDD in the 3rd quarter valued at about $34,000. Hedge funds and other institutional investors own 39.83% of the company's stock.

Analysts Set New Price Targets

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

PDD Stock Up 1.4 %

Shares of PDD traded up $1.30 during midday trading on Monday, reaching $95.98. 7,053,215 shares of the stock were exchanged, compared to its average volume of 6,937,690. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. The company's 50 day moving average is $104.53 and its two-hundred day moving average is $118.26. The company has a market capitalization of $132.06 billion, a P/E ratio of 9.37, a PEG ratio of 0.29 and a beta of 0.66. PDD Holdings Inc. has a 52 week low of $88.01 and a 52 week high of $164.69.

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.