PDD (NASDAQ:PDD) Shares Down 3.8% – Time to Sell?

PDD Holdings Inc. (NASDAQ:PDD) fell 3.8% on Friday . The company traded as low as $100.55 and last traded at $100.65. 1,491,987 shares traded hands during trading, a decline of 86% from the average session volume of 10,685,932 shares. The stock had previously closed at $104.66.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Bank of America dropped their price target on shares of PDD from $206.00 to $170.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Daiwa America raised shares of PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Macquarie upgraded PDD from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $126.00 to $224.00 in a research note on Monday, October 7th. Barclays decreased their target price on PDD from $224.00 to $158.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 27th. Finally, Sanford C. Bernstein cut their price target on shares of PDD from $235.00 to $170.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 27th. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $173.40.

PDD Stock Performance

The stock has a market cap of $139.73 billion, a PE ratio of 9.92, a PEG ratio of 0.30 and a beta of 0.66. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. The firm has a 50 day moving average of $117.99 and a two-hundred day moving average of $125.61.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Oddo BHF Asset Management Sas acquired a new position in PDD in the third quarter valued at $653,000. Tidal Investments LLC increased its position in PDD by 1,019.4% in the 3rd quarter. Tidal Investments LLC now owns 71,173 shares of the company’s stock valued at $9,595,000 after acquiring an additional 64,815 shares during the period. Sanctuary Advisors LLC raised its stake in PDD by 42.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 13,306 shares of the company’s stock valued at $1,794,000 after acquiring an additional 3,943 shares during the last quarter. TT International Asset Management LTD acquired a new stake in PDD during the 3rd quarter worth approximately $74,430,000. Finally, Geode Capital Management LLC grew its stake in shares of PDD by 12.3% in the 3rd quarter. Geode Capital Management LLC now owns 4,686,505 shares of the company’s stock valued at $627,104,000 after purchasing an additional 513,248 shares during the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.

PDD Company 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.