PDD Holdings Inc. (NASDAQ:PDD) Shares Acquired by Cat Rock Capital Management LP

Cat Rock Capital Management LP raised its position in PDD Holdings Inc. (NASDAQ:PDD) by 19.2% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 822,714 shares of the company’s stock after purchasing an additional 132,555 shares during the period. PDD makes up 10.4% of Cat Rock Capital Management LP’s portfolio, making the stock its 3rd biggest holding. Cat Rock Capital Management LP’s holdings in PDD were worth $79,795,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in PDD. Nisa Investment Advisors LLC acquired a new position in shares of PDD in the fourth quarter valued at about $39,000. Brooklyn Investment Group raised its stake in PDD by 340.3% in the 4th quarter. Brooklyn Investment Group now owns 524 shares of the company’s stock worth $51,000 after purchasing an additional 405 shares in the last quarter. Global Retirement Partners LLC boosted its holdings in PDD by 939.6% in the 4th quarter. Global Retirement Partners LLC now owns 551 shares of the company’s stock valued at $53,000 after purchasing an additional 498 shares during the period. Farther Finance Advisors LLC grew its position in shares of PDD by 30.9% during the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company’s stock worth $54,000 after purchasing an additional 132 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of PDD by 43.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company’s stock worth $80,000 after purchasing an additional 249 shares during the period. Institutional investors own 39.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PDD. Benchmark reiterated a “buy” rating and issued a $160.00 price target on shares of PDD in a research note on Friday, March 21st. Nomura reiterated a “neutral” rating and set a $130.00 target price (down from $137.00) on shares of PDD in a research report on Thursday, March 20th. Nomura Securities downgraded PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, March 21st. JPMorgan Chase & Co. increased their price objective 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. Finally, Jefferies Financial Group decreased their target price on shares of PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a report on Thursday, March 20th. Five research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $169.91.

PDD Price Performance

PDD stock opened at $110.92 on Monday. The stock has a market cap of $152.61 billion, a price-to-earnings ratio of 10.83, a P/E/G ratio of 0.32 and a beta of 0.57. 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 company has a 50 day simple moving average of $110.44 and a 200 day simple moving average of $109.96. PDD Holdings Inc. has a 1 year low of $87.11 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.