PDD (NASDAQ:PDD) Shares Down 4.1% – Here’s Why

by · The Cerbat Gem

PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD – Get Free Report) traded down 4.1% on Wednesday . The company traded as low as $105.54 and last traded at $104.5570. 3,560,058 shares were traded during mid-day trading, a decline of 59% from the average session volume of 8,757,959 shares. The stock had previously closed at $109.02.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PDD. Citigroup reaffirmed a “buy” rating on shares of PDD in a report on Monday, August 25th. Jefferies Financial Group set a $146.00 price target on PDD and gave the company a “buy” rating in a research note on Monday, August 25th. Zacks Research cut PDD from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 27th. Wall Street Zen raised PDD from a “hold” rating to a “buy” rating in a report on Saturday, November 22nd. Finally, Benchmark reaffirmed a “buy” rating and issued a $160.00 target price (up previously from $128.00) on shares of PDD in a report on Tuesday, August 26th. Five research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $136.43.

Read Our Latest Research Report on PDD

PDD Price Performance

The stock has a 50 day moving average price of $124.44 and a two-hundred day moving average price of $118.79. The company has a market capitalization of $152.45 billion, a price-to-earnings ratio of 11.43, a price-to-earnings-growth ratio of 1.18 and a beta of 0.07.

Hedge Funds Weigh In On PDD

A number of institutional investors have recently modified their holdings of PDD. Focus Financial Network Inc. grew its stake in shares of PDD by 4.3% during the second quarter. Focus Financial Network Inc. now owns 2,376 shares of the company’s stock valued at $249,000 after purchasing an additional 97 shares during the last quarter. Gunderson Capital Management Inc. lifted its holdings in PDD by 5.5% during the 2nd quarter. Gunderson Capital Management Inc. now owns 1,944 shares of the company’s stock worth $203,000 after buying an additional 101 shares in the last quarter. Advisory Services Network LLC boosted its position in PDD by 0.7% in the 3rd quarter. Advisory Services Network LLC now owns 15,458 shares of the company’s stock valued at $2,043,000 after buying an additional 102 shares during the last quarter. West Family Investments Inc. increased its stake in shares of PDD by 2.8% in the 3rd quarter. West Family Investments Inc. now owns 4,026 shares of the company’s stock valued at $532,000 after buying an additional 110 shares during the period. Finally, Lido Advisors LLC increased its stake in shares of PDD by 4.6% in the 2nd quarter. Lido Advisors LLC now owns 2,633 shares of the company’s stock valued at $276,000 after buying an additional 115 shares during the period. 39.83% of the stock is owned by institutional investors.

PDD Company Profile

(Get Free Report)

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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