Headwater Capital Co Ltd Raises Holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD)

Headwater Capital Co Ltd increased its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 100.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 200,000 shares of the company’s stock after purchasing an additional 100,000 shares during the period. PDD makes up 10.6% of Headwater Capital Co Ltd’s investment portfolio, making the stock its 4th largest holding. Headwater Capital Co Ltd’s holdings in PDD were worth $23,670,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Hollencrest Capital Management bought a new position in shares of PDD in the 1st quarter worth $26,000. IFP Advisors Inc raised its position in PDD by 245.8% in the 1st quarter. IFP Advisors Inc now owns 408 shares of the company’s stock valued at $48,000 after buying an additional 290 shares during the last quarter. Siemens Fonds Invest GmbH purchased a new stake in PDD in the 4th quarter valued at $192,000. OneDigital Investment Advisors LLC purchased a new stake in PDD in the 1st quarter valued at $204,000. Finally, Gunderson Capital Management Inc. purchased a new stake in PDD in the 1st quarter valued at $218,000. 39.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PDD. China Renaissance reissued a “hold” rating and issued a $107.00 price target on shares of PDD in a research report on Wednesday, May 28th. Barclays lowered PDD from a “strong-buy” rating to a “hold” rating in a research report on Sunday, June 1st. Citigroup raised PDD from a “neutral” rating to a “buy” rating and increased their price target for the company from $127.00 to $165.00 in a research report on Monday, May 12th. Jefferies Financial Group set a $121.00 price target on PDD and gave the company a “buy” rating in a research report on Tuesday, May 27th. Finally, Macquarie reissued an “outperform” rating on shares of PDD in a research report on Tuesday, May 27th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $144.55.

PDD Price Performance

NASDAQ PDD opened at $110.06 on Friday. The stock has a market capitalization of $153.22 billion, a price-to-earnings ratio of 11.85, a PEG ratio of 1.59 and a beta of 0.42. PDD Holdings Inc. Sponsored ADR has a one year low of $87.11 and a one year high of $155.67. The business’s fifty day moving average is $105.72 and its 200-day moving average is $110.10.

PDD (NASDAQ:PDD) last announced its quarterly earnings data on Tuesday, May 27th. The company reported $1.37 earnings per share for the quarter, missing the consensus estimate of $2.25 by ($0.88). PDD had a return on equity of 33.76% and a net margin of 24.63%. The firm had revenue of $13.19 billion during the quarter, compared to analysts’ expectations of $103.37 billion. During the same period last year, the business posted $20.72 EPS. The company’s revenue was up 10.2% compared to the same quarter last year. Research analysts expect that PDD Holdings Inc. Sponsored ADR will post 10.24 EPS for the current fiscal year.

PDD Company 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.