PDD (NASDAQ:PDD) Shares Down 0.3%

PDD Holdings Inc. (NASDAQ:PDD) shares were down 0.3% during trading on Friday . The stock traded as low as $128.00 and last traded at $129.29. Approximately 1,060,304 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 8,437,903 shares. The stock had previously closed at $129.74.

Analysts Set New Price Targets

Several brokerages recently commented on PDD. Sanford C. Bernstein boosted their price target on shares of PDD from $180.00 to $235.00 and gave the stock an “outperform” rating in a report on Thursday, May 23rd. Barclays boosted their price objective on PDD from $178.00 to $224.00 and gave the stock an “overweight” rating in a research note on Friday, May 24th. Bank of America increased their price objective on PDD from $191.00 to $206.00 and gave the company a “buy” rating in a research note on Thursday, May 23rd. UBS Group increased their target price on shares of PDD from $248.00 to $272.00 and gave the company a “buy” rating in a research report on Wednesday, May 22nd. Finally, The Goldman Sachs Group raised shares of PDD from a “neutral” rating to a “buy” rating and upped their price objective for the company from $145.00 to $184.00 in a research note on Friday, May 24th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, PDD presently has a consensus rating of “Buy” and an average price target of $188.33.

PDD Trading Up 1.1 %

The company has a 50-day moving average price of $142.11 and a 200-day moving average price of $133.37. The firm has a market capitalization of $180.56 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 0.23 and a beta of 0.63. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.09 and a current ratio of 2.09.

PDD (NASDAQ:PDD) last announced its quarterly earnings results on Wednesday, May 22nd. The company reported $2.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $1.19. The firm had revenue of $12.02 billion during the quarter, compared to analysts’ expectations of $10.62 billion. PDD had a net margin of 26.93% and a return on equity of 45.04%. As a group, research analysts forecast that PDD Holdings Inc. will post 11.41 EPS for the current fiscal year.

Institutional Trading of PDD

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of PDD during the fourth quarter worth $1,075,172,000. Assenagon Asset Management S.A. boosted its holdings in PDD by 15,755.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 5,087,255 shares of the company’s stock valued at $591,393,000 after purchasing an additional 5,055,169 shares in the last quarter. Hhlr Advisors LTD. increased its position in PDD by 37.5% during the 4th quarter. Hhlr Advisors LTD. now owns 10,110,947 shares of the company’s stock worth $1,479,333,000 after purchasing an additional 2,760,100 shares during the period. Baillie Gifford & Co. boosted its stake in shares of PDD by 6.4% in the fourth quarter. Baillie Gifford & Co. now owns 37,960,238 shares of the company’s stock valued at $5,553,962,000 after buying an additional 2,292,068 shares in the last quarter. Finally, Ninety One UK Ltd purchased a new position in PDD in the fourth quarter worth $235,666,000. 29.07% of the stock is owned by hedge funds and other institutional investors.

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.