Maple Rock Capital Partners Inc. Sells 96,560 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Maple Rock Capital Partners Inc. decreased its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 17.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 454,000 shares of the company's stock after selling 96,560 shares during the period. PDD accounts for 1.3% of Maple Rock Capital Partners Inc.'s portfolio, making the stock its 11th largest position. Maple Rock Capital Partners Inc.'s holdings in PDD were worth $44,033,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in PDD. Wahed Invest LLC boosted its stake in PDD by 12.5% in the 4th quarter. Wahed Invest LLC now owns 10,825 shares of the company's stock worth $1,050,000 after purchasing an additional 1,199 shares in the last quarter. AQR Capital Management LLC lifted its stake in shares of PDD by 4.1% in the fourth quarter. AQR Capital Management LLC now owns 884,082 shares of the company's stock worth $85,747,000 after buying an additional 35,036 shares in the last quarter. Northern Trust Corp lifted its stake in shares of PDD by 182.8% in the fourth quarter. Northern Trust Corp now owns 3,236,686 shares of the company's stock worth $313,926,000 after buying an additional 2,092,160 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of PDD by 2.2% during the fourth quarter. The Manufacturers Life Insurance Company now owns 830,880 shares of the company's stock valued at $80,587,000 after buying an additional 17,842 shares during the last quarter. Finally, Kamunting Street Capital Management L.P. increased its position in shares of PDD by 10.0% during the fourth quarter. Kamunting Street Capital Management L.P. now owns 30,000 shares of the company's stock valued at $2,910,000 after acquiring an additional 2,728 shares in the last quarter. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

PDD Price Performance

Shares of NASDAQ PDD traded down $0.07 during mid-day trading on Monday, reaching $110.85. The company's stock had a trading volume of 4,136,880 shares, compared to its average volume of 11,157,736. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. PDD Holdings Inc. has a 52 week low of $87.11 and a 52 week high of $164.69. The stock has a fifty day moving average of $110.44 and a two-hundred day moving average of $109.96. The firm has a market capitalization of $152.52 billion, a PE ratio of 10.83, a P/E/G ratio of 0.32 and a beta of 0.57.

Wall Street Analysts Forecast Growth

Several analysts have commented on PDD shares. Benchmark reiterated a "buy" rating and set a $160.00 target price on shares of PDD in a research note on Friday, March 21st. Citigroup reaffirmed a "neutral" rating on shares of PDD in a research report on Thursday, March 20th. JPMorgan Chase & Co. boosted their target price on PDD from $105.00 to $125.00 and gave the stock a "neutral" rating in a research report on Friday, March 21st. Jefferies Financial Group dropped 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. Finally, Nomura reaffirmed a "neutral" rating and set a $130.00 price target (down previously from $137.00) on shares of PDD in a research report on Thursday, March 20th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $169.91.

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.