PDD Holdings Inc. (NASDAQ:PDD - Get Free Report) rose 7.1% during trading on Monday . The stock traded as high as $99.10 and last traded at $96.91. Approximately 6,412,279 shares traded hands during trading, a decline of 43% from the average daily volume of 11,184,453 shares. The stock had previously closed at $90.50.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on the company. Nomura reiterated a "neutral" rating and set a $130.00 price objective (down previously from $137.00) on shares of PDD in a research note on Thursday, March 20th. Benchmark reiterated a "buy" rating and issued a $160.00 target price on shares of PDD in a research note on Friday, March 21st. JPMorgan Chase & Co. lifted their target price on PDD from $105.00 to $125.00 and gave the stock a "neutral" rating in a research note on Friday, March 21st. Citigroup reaffirmed a "neutral" rating on shares of PDD in a report on Thursday, March 20th. Finally, Jefferies Financial Group cut their target price on shares of PDD from $171.00 to $156.00 and set a "buy" rating for the company in a research note on Thursday, March 20th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $169.91.
Check Out Our Latest Report on PDD
PDD Stock Performance
The company's 50 day moving average is $115.04 and its 200 day moving average is $113.42. The firm has a market cap of $128.91 billion, a P/E ratio of 9.15, a P/E/G ratio of 0.32 and a beta of 0.73. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15.
Hedge Funds Weigh In On PDD
Institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank purchased a new stake in PDD in the 4th quarter worth approximately $812,246,000. Sanders Capital LLC bought a new stake in PDD in the 4th quarter valued at $499,972,000. FMR LLC raised its stake in shares of PDD by 22.3% in the fourth quarter. FMR LLC now owns 25,603,183 shares of the company's stock valued at $2,483,253,000 after acquiring an additional 4,673,022 shares during the period. FIL Ltd grew its position in shares of PDD by 72.4% during the 4th quarter. FIL Ltd now owns 7,978,622 shares of the company's stock worth $773,847,000 after buying an additional 3,350,627 shares in the last quarter. Finally, Capital International Investors purchased a new position in PDD in the fourth quarter valued at about $246,823,000. 39.83% of the stock is owned by institutional investors.
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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