Maple Rock Capital Partners Inc. Buys Shares of 550,560 PDD Holdings Inc. (NASDAQ:PDD)

Maple Rock Capital Partners Inc. acquired a new position in PDD Holdings Inc. (NASDAQ:PDD) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 550,560 shares of the company’s stock, valued at approximately $74,221,000. PDD makes up 2.1% of Maple Rock Capital Partners Inc.’s holdings, making the stock its 9th largest holding.

Other institutional investors and hedge funds have also bought and sold shares of the company. Prospera Private Wealth LLC bought a new stake in shares of PDD in the 3rd quarter worth approximately $27,000. Venturi Wealth Management LLC bought a new position in PDD during the 3rd quarter valued at approximately $29,000. Ashton Thomas Private Wealth LLC purchased a new position in PDD in the second quarter worth about $32,000. Richardson Financial Services Inc. lifted its holdings in shares of PDD by 3,883.3% during the second quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock valued at $32,000 after purchasing an additional 233 shares in the last quarter. Finally, Future Financial Wealth Managment LLC bought a new position in PDD during the third quarter valued at approximately $34,000. 29.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Bank of America lowered their target price on PDD from $206.00 to $170.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. Benchmark decreased their price target on PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. JPMorgan Chase & Co. lowered shares of PDD from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $170.00 to $105.00 in a research note on Friday, November 22nd. Sanford C. Bernstein dropped their target price on shares of PDD from $235.00 to $170.00 and set an “outperform” rating on the stock in a report on Tuesday, August 27th. Finally, Macquarie raised shares of PDD from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $126.00 to $224.00 in a research report on Monday, October 7th. Three research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $173.40.

PDD Stock Down 0.5 %

Shares of PDD stock opened at $98.45 on Wednesday. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. PDD Holdings Inc. has a twelve month low of $88.01 and a twelve month high of $164.69. The stock has a 50 day moving average of $122.87 and a 200 day moving average of $127.59. The stock has a market cap of $135.45 billion, a P/E ratio of 9.61, a P/E/G ratio of 0.28 and a beta of 0.66.

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.