PDD (NASDAQ:PDD) Shares Down 1.4%

PDD Holdings Inc. (NASDAQ:PDD)’s share price fell 1.4% during mid-day trading on Thursday . The stock traded as low as $90.16 and last traded at $91.46. 3,877,818 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 9,655,001 shares. The stock had previously closed at $92.75.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PDD. Barclays dropped their target price on shares of PDD from $224.00 to $158.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 27th. Daiwa America raised PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Citigroup lowered PDD from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $194.00 to $120.00 in a research report on Tuesday, August 27th. The Goldman Sachs Group raised shares of PDD from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $145.00 to $184.00 in a report on Friday, May 24th. Finally, Benchmark dropped their target price on shares of PDD from $230.00 to $185.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $177.78.

PDD Trading Down 0.1 %

The stock’s fifty day simple moving average is $129.61 and its 200 day simple moving average is $131.09. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $127.52 billion, a PE ratio of 12.11, a PEG ratio of 0.23 and a beta of 0.69.

PDD (NASDAQ:PDD) last released its earnings results on Monday, August 26th. The company reported $23.24 earnings per share for the quarter, beating the consensus estimate of $2.66 by $20.58. PDD had a return on equity of 48.14% and a net margin of 28.92%. The company had revenue of $97.06 billion for the quarter, compared to the consensus estimate of $100.17 billion. During the same period in the previous year, the business earned $1.27 earnings per share. PDD’s quarterly revenue was up 85.7% compared to the same quarter last year. On average, sell-side analysts predict that PDD Holdings Inc. will post 11.21 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PDD. Johnson Investment Counsel Inc. increased its stake in PDD by 2.4% in the 4th quarter. Johnson Investment Counsel Inc. now owns 3,278 shares of the company’s stock worth $480,000 after buying an additional 78 shares in the last quarter. Checchi Capital Advisers LLC grew its position in shares of PDD by 2.6% during the first quarter. Checchi Capital Advisers LLC now owns 3,823 shares of the company’s stock worth $444,000 after purchasing an additional 98 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in PDD by 31.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock worth $62,000 after purchasing an additional 101 shares in the last quarter. Ballentine Partners LLC boosted its stake in PDD by 4.6% in the 2nd quarter. Ballentine Partners LLC now owns 2,701 shares of the company’s stock worth $359,000 after purchasing an additional 120 shares during the period. Finally, Parallel Advisors LLC boosted its stake in PDD by 5.3% in the 2nd quarter. Parallel Advisors LLC now owns 2,436 shares of the company’s stock worth $324,000 after purchasing an additional 122 shares during the period. 29.07% of the stock is owned by hedge funds and other institutional investors.

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.