Headwater Capital Co Ltd Sells 50,000 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Headwater Capital Co Ltd decreased its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 25.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 150,000 shares of the company’s stock after selling 50,000 shares during the period. PDD comprises 4.9% of Headwater Capital Co Ltd’s portfolio, making the stock its 9th largest holding. Headwater Capital Co Ltd’s holdings in PDD were worth $19,826,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Norges Bank purchased a new stake in PDD in the 2nd quarter worth approximately $962,785,000. Himalaya Capital Management LLC acquired a new stake in shares of PDD in the second quarter worth about $482,273,000. NetEase Inc. bought a new stake in shares of PDD during the 2nd quarter worth about $372,117,000. Orbis Allan Gray Ltd increased its holdings in shares of PDD by 135.6% during the 2nd quarter. Orbis Allan Gray Ltd now owns 5,647,728 shares of the company’s stock valued at $591,091,000 after acquiring an additional 3,250,416 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of PDD by 10.2% in the 2nd quarter. Vanguard Group Inc. now owns 32,035,725 shares of the company’s stock valued at $3,352,859,000 after acquiring an additional 2,956,249 shares in the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PDD shares. Morgan Stanley set a $148.00 target price on PDD in a research report on Thursday, January 15th. Loop Capital set a $170.00 price objective on shares of PDD in a report on Tuesday, January 6th. Citigroup reiterated a “neutral” rating on shares of PDD in a report on Wednesday, January 28th. Sanford C. Bernstein set a $135.00 target price on shares of PDD in a research report on Tuesday, November 18th. Finally, Wall Street Zen downgraded PDD from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Four investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $139.87.

PDD Stock Performance

NASDAQ:PDD opened at $106.90 on Thursday. The firm’s 50-day moving average is $108.47 and its 200-day moving average is $119.48. The company has a market cap of $148.82 billion and a price-to-earnings ratio of 11.16. PDD Holdings Inc. Sponsored ADR has a 52-week low of $87.11 and a 52-week high of $139.41.

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.