PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) Given Average Recommendation of “Hold” by Analysts

PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) has been given a consensus recommendation of “Hold” by the seventeen brokerages that are currently covering the stock, Marketbeat.com reports. Twelve investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $136.4286.

A number of analysts have weighed in on PDD shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of PDD in a report on Wednesday, October 8th. Arete downgraded shares of PDD from a “buy” rating to a “neutral” rating and set a $130.00 price target for the company. in a research report on Tuesday, December 9th. Bank of America lowered their price objective on PDD from $141.00 to $140.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 19th. Wall Street Zen upgraded PDD from a “hold” rating to a “buy” rating in a research note on Saturday, November 22nd. Finally, Zacks Research cut PDD from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th.

Hedge Funds Weigh In On PDD

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in PDD by 20.3% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 59,439 shares of the company’s stock worth $6,221,000 after buying an additional 10,036 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of PDD by 53.4% in the second quarter. Assenagon Asset Management S.A. now owns 7,394,211 shares of the company’s stock worth $773,878,000 after acquiring an additional 2,573,065 shares during the period. Edmond DE Rothschild Holding S.A. grew its position in shares of PDD by 54.1% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 26,216 shares of the company’s stock worth $3,103,000 after purchasing an additional 9,206 shares in the last quarter. Taikang Asset Management Hong Kong Co Ltd raised its stake in PDD by 69.7% during the 1st quarter. Taikang Asset Management Hong Kong Co Ltd now owns 271,977 shares of the company’s stock valued at $32,188,000 after purchasing an additional 111,731 shares during the period. Finally, Freemont Capital Pte Ltd lifted its holdings in PDD by 19.2% in the 2nd quarter. Freemont Capital Pte Ltd now owns 31,000 shares of the company’s stock worth $3,244,000 after purchasing an additional 5,000 shares in the last quarter. Institutional investors own 39.83% of the company’s stock.

PDD Price Performance

PDD opened at $115.01 on Friday. The firm has a market cap of $160.11 billion, a PE ratio of 12.01, a P/E/G ratio of 1.27 and a beta of 0.07. The stock has a 50-day moving average price of $122.71 and a 200-day moving average price of $119.35. PDD has a 1 year low of $87.11 and a 1 year high of $139.41.

About PDD

PDD (NASDAQ: PDD) is the holding company best known for operating Pinduoduo, a China-based, mobile-first e-commerce platform that emphasizes interactive, social shopping and group-buying mechanics to drive user engagement and low prices. Founded in 2015 by entrepreneur Colin Huang, the business has grown by connecting consumers directly with merchants and manufacturers, with particular emphasis on value-oriented goods and fresh agricultural produce. The company is based in Shanghai and completed a U.S.