PDD (NASDAQ:PDD) Shares Gap Down – Time to Sell?

PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) shares gapped down before the market opened on Tuesday . The stock had previously closed at $118.73, but opened at $112.42. PDD shares last traded at $111.8990, with a volume of 7,600,038 shares.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on PDD shares. Arete Research set a $130.00 price target on PDD in a research report on Tuesday, December 9th. Zacks Research lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Monday, October 27th. Arete cut shares of PDD from a “buy” rating to a “neutral” rating and set a $130.00 target price on the stock. in a research note on Tuesday, December 9th. Weiss Ratings restated a “hold (c+)” rating on shares of PDD in a research report on Wednesday, October 8th. Finally, Sanford C. Bernstein set a $135.00 price target on shares of PDD in a report on Tuesday, November 18th. Five research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $138.67.

PDD Stock Down 6.1%

The firm has a market capitalization of $155.25 billion, a P/E ratio of 11.63, a price-to-earnings-growth ratio of 1.12 and a beta of 0.02. The firm’s 50-day simple moving average is $119.01 and its 200-day simple moving average is $120.69.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PDD. Westside Investment Management Inc. lifted its stake in PDD by 398.0% during the second quarter. Westside Investment Management Inc. now owns 249 shares of the company’s stock worth $26,000 after purchasing an additional 199 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in shares of PDD during the 2nd quarter valued at about $28,000. GAMMA Investing LLC raised its holdings in shares of PDD by 595.0% during the 4th quarter. GAMMA Investing LLC now owns 278 shares of the company’s stock valued at $32,000 after buying an additional 238 shares in the last quarter. Binnacle Investments Inc raised its holdings in shares of PDD by 281.7% during the 3rd quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock valued at $36,000 after buying an additional 200 shares in the last quarter. Finally, Wexford Capital LP bought a new stake in PDD in the 3rd quarter worth approximately $44,000. Institutional investors own 39.83% of the company’s stock.

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.