PDD Holdings Inc. (NASDAQ:PDD) is Cat Rock Capital Management LP's 3rd Largest Position

Cat Rock Capital Management LP boosted its position in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 19.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 822,714 shares of the company's stock after buying an additional 132,555 shares during the period. PDD makes up 10.4% of Cat Rock Capital Management LP's holdings, making the stock its 3rd biggest holding. Cat Rock Capital Management LP owned about 0.06% of PDD worth $79,795,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in PDD. Jones Financial Companies Lllp boosted its holdings in shares of PDD by 8.7% in the 4th quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company's stock worth $118,000 after purchasing an additional 97 shares in the last quarter. Farther Finance Advisors LLC raised its position in PDD by 30.9% in the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock worth $54,000 after buying an additional 132 shares during the last quarter. New York Life Investment Management LLC grew its stake in shares of PDD by 5.8% during the 4th quarter. New York Life Investment Management LLC now owns 2,528 shares of the company's stock valued at $245,000 after purchasing an additional 139 shares during the period. Cibc World Markets Corp raised its position in PDD by 1.1% in the fourth quarter. Cibc World Markets Corp now owns 14,799 shares of the company's stock worth $1,435,000 after acquiring an additional 164 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in PDD by 43.2% in the 4th 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.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Citigroup reissued a "neutral" rating on shares of PDD in a report on Thursday, March 20th. Benchmark reissued a "buy" rating and set a $160.00 price target on shares of PDD in a research report on Friday, March 21st. Nomura Securities downgraded PDD from a "strong-buy" rating to a "hold" rating in a report on Friday, March 21st. JPMorgan Chase & Co. increased their price objective on PDD from $105.00 to $125.00 and gave the company a "neutral" rating in a report on Friday, March 21st. Finally, Nomura reissued a "neutral" rating and set a $130.00 price objective (down from $137.00) on shares of PDD 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. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $169.91.

PDD Price Performance

Shares of NASDAQ:PDD traded down $1.93 during midday trading on Wednesday, hitting $109.39. 5,469,052 shares of the stock were exchanged, compared to its average volume of 11,146,514. 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 stock has a market cap of $150.51 billion, a P/E ratio of 10.68, a PEG ratio of 0.32 and a beta of 0.57. The company has a 50 day moving average price of $110.03 and a 200-day moving average price of $109.87. PDD Holdings Inc. has a twelve month low of $87.11 and a twelve month 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.