PDD (NASDAQ:PDD) Trading Down 3.1%

PDD Holdings Inc. (NASDAQ:PDD)’s share price dropped 3.1% during trading on Wednesday . The company traded as low as $115.43 and last traded at $116.32. Approximately 2,781,247 shares traded hands during trading, a decline of 68% from the average daily volume of 8,754,343 shares. The stock had previously closed at $120.10.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Benchmark raised their price objective on PDD from $215.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Barclays increased their price objective on shares of PDD from $164.00 to $178.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. JPMorgan Chase & Co. decreased their target price on shares of PDD from $195.00 to $190.00 and set an “overweight” rating on the stock in a research note on Thursday, March 21st. The Goldman Sachs Group downgraded PDD from a “buy” rating to a “neutral” rating and set a $136.00 price objective on the stock. in a report on Monday, March 11th. Finally, Jefferies Financial Group upped their target price on PDD from $157.00 to $161.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $146.85.

PDD Stock Down 0.4 %

The stock’s 50-day moving average price is $127.79 and its 200-day moving average price is $123.50. The stock has a market cap of $153.40 billion, a price-to-earnings ratio of 20.29, a P/E/G ratio of 0.30 and a beta of 0.67. The company has a current ratio of 1.93, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03.

Institutional Trading of PDD

Large investors have recently bought and sold shares of the business. Whittier Trust Co. of Nevada Inc. boosted its position in shares of PDD by 2.0% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 3,356 shares of the company’s stock valued at $491,000 after purchasing an additional 66 shares in the last quarter. Johnson Investment Counsel Inc. boosted its holdings in shares of PDD by 2.4% during 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. EverSource Wealth Advisors LLC grew its position in shares of PDD by 31.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock worth $62,000 after buying an additional 101 shares during the period. PDS Planning Inc increased its stake in shares of PDD by 5.2% in the 4th quarter. PDS Planning Inc now owns 2,328 shares of the company’s stock valued at $341,000 after acquiring an additional 116 shares in the last quarter. Finally, Mariner LLC boosted its stake in PDD by 1.4% during the fourth quarter. Mariner LLC now owns 9,607 shares of the company’s stock worth $783,000 after acquiring an additional 133 shares in the last quarter. 29.07% of the stock is currently owned by institutional investors and hedge funds.

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.