Maytree Asset Management Ltd Has $58.18 Million Position in PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• Maytree Asset Management cut its stake in PDD by 96.6% in Q4 and now holds 513,112 shares worth $58.18 million, which still represents 43.1% of the firm's holdings and is its largest position.
• PDD is a large-cap e‑commerce company (market cap ~$134.7B) trading between a 52-week low/high of $95.24/$139.41, with a low valuation (PE ~10.29, PEG ~0.92) and short- and long-term moving averages near $101.25 and $111.10.
• Analyst sentiment is mixed-to-cautious: six analysts rate PDD a Buy and nine a Hold, giving a consensus "Hold" and a consensus price target of about $139.67, with individual targets ranging roughly from $121 to $170.

Maytree Asset Management Ltd lowered its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 96.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 513,112 shares of the company's stock after selling 14,781,537 shares during the quarter. PDD comprises approximately 43.1% of Maytree Asset Management Ltd's holdings, making the stock its largest holding. Maytree Asset Management Ltd's holdings in PDD were worth $58,182,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of PDD. GAMMA Investing LLC grew its position in PDD by 595.0% in the 4th quarter. GAMMA Investing LLC now owns 278 shares of the company's stock worth $32,000 after purchasing an additional 238 shares during the last quarter. Binnacle Investments Inc raised its position in shares of PDD by 281.7% during the third quarter. Binnacle Investments Inc now owns 271 shares of the company's stock valued at $36,000 after buying an additional 200 shares during the last quarter. Wexford Capital LP acquired a new position in shares of PDD during the third quarter valued at about $44,000. Assetmark Inc. lifted its stake in shares of PDD by 314.4% in the third quarter. Assetmark Inc. now owns 402 shares of the company's stock valued at $53,000 after buying an additional 305 shares during the period. Finally, Larson Financial Group LLC lifted its stake in shares of PDD by 720.4% in the third quarter. Larson Financial Group LLC now owns 402 shares of the company's stock valued at $53,000 after buying an additional 353 shares during the period. 39.83% of the stock is currently owned by institutional investors and hedge funds.

PDD Stock Performance

Shares of NASDAQ:PDD opened at $96.75 on Wednesday. The company's fifty day moving average is $101.25 and its 200-day moving average is $111.10. PDD Holdings Inc. Sponsored ADR has a 52 week low of $95.24 and a 52 week high of $139.41. The company has a market capitalization of $134.69 billion, a PE ratio of 10.29, a P/E/G ratio of 0.92 and a beta of 0.04.

Wall Street Analysts Forecast Growth

PDD has been the topic of several research reports. Morgan Stanley set a $148.00 price target on PDD in a research note on Thursday, January 15th. Nomura upgraded PDD from a "neutral" rating to a "buy" rating and set a $136.00 price objective for the company in a research report on Friday, March 27th. Citigroup reissued a "neutral" rating on shares of PDD in a report on Wednesday, January 28th. Loop Capital set a $170.00 price objective on PDD in a research report on Tuesday, January 6th. Finally, Arete Research upgraded PDD from a "neutral" rating to a "buy" rating and set a $121.00 target price for the company in a research note on Friday, April 17th. Six equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $139.67.

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.

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