PDD Holdings Inc. (NASDAQ:PDD - Get Free Report) saw strong trading volume on Thursday . 8,308,639 shares traded hands during trading, a decline of 21% from the previous session's volume of 10,513,959 shares.The stock last traded at $128.66 and had previously closed at $125.92.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. raised their price target on PDD from $105.00 to $125.00 and gave the stock a "neutral" rating in a report on Friday. Jefferies Financial Group cut their target price on PDD from $171.00 to $156.00 and set a "buy" rating for the company in a research note on Thursday. Nomura Securities cut PDD from a "strong-buy" rating to a "hold" rating in a research report on Friday. Benchmark reaffirmed a "buy" rating and set a $160.00 price objective on shares of PDD in a research note on Friday. Finally, Nomura reiterated a "neutral" rating and issued a $130.00 target price (down from $137.00) on shares of PDD in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $169.91.
Check Out Our Latest Stock Report on PDD
PDD Stock Up 1.4 %
The stock's fifty day moving average price is $115.75 and its 200 day moving average price is $113.38. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. The stock has a market cap of $176.72 billion, a P/E ratio of 12.54, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69.
Institutional Investors Weigh In On PDD
A number of large investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC purchased a new position in shares of PDD in the 4th quarter worth about $39,000. Brooklyn Investment Group lifted its position in PDD by 340.3% in the 4th quarter. Brooklyn Investment Group now owns 524 shares of the company's stock worth $51,000 after buying an additional 405 shares during the last quarter. Global Retirement Partners LLC boosted its stake in PDD by 939.6% in the fourth quarter. Global Retirement Partners LLC now owns 551 shares of the company's stock worth $53,000 after buying an additional 498 shares in the last quarter. Farther Finance Advisors LLC grew its position in PDD by 30.9% during the fourth quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock valued at $54,000 after acquiring an additional 132 shares during the last quarter. Finally, Avior Wealth Management LLC raised its stake in shares of PDD by 50.9% during the third quarter. Avior Wealth Management LLC now owns 501 shares of the company's stock worth $68,000 after acquiring an additional 169 shares in the last quarter. Hedge funds and other institutional investors own 39.83% of the company's stock.
About PDD
(
Get Free Report)
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.
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