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

Shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) have received a consensus recommendation of “Hold” from the fifteen research firms that are presently covering the firm, MarketBeat Ratings reports. Eleven equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $139.8667.

A number of analysts have recently issued reports on PDD shares. Bank of America lowered their price objective on shares of PDD from $141.00 to $140.00 and set a “neutral” rating on the stock in a report on Wednesday, November 19th. Zacks Research lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 27th. Sanford C. Bernstein set a $135.00 price objective on shares of PDD in a research note on Tuesday, November 18th. Citigroup reaffirmed a “neutral” rating on shares of PDD in a research report on Wednesday, January 28th. Finally, Morgan Stanley set a $148.00 price target on PDD in a research report on Thursday, January 15th.

PDD Price Performance

PDD stock opened at $100.28 on Friday. The stock has a market capitalization of $139.60 billion and a P/E ratio of 10.47. PDD has a fifty-two week low of $87.11 and a fifty-two week high of $139.41. The business has a 50-day moving average of $109.81 and a 200-day moving average of $119.98.

Hedge Funds Weigh In On PDD

Institutional investors have recently added to or reduced their stakes in the company. Westside Investment Management Inc. grew its position in shares of PDD by 398.0% in the 2nd quarter. Westside Investment Management Inc. now owns 249 shares of the company’s stock valued at $26,000 after acquiring an additional 199 shares during the period. Ameritas Advisory Services LLC bought a new position in PDD during the second quarter worth about $28,000. Binnacle Investments Inc increased its position in PDD by 281.7% during the third quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock worth $36,000 after buying an additional 200 shares during the last quarter. GAMMA Investing LLC raised its stake in PDD by 595.0% in the fourth quarter. GAMMA Investing LLC now owns 278 shares of the company’s stock valued at $32,000 after buying an additional 238 shares during the period. Finally, Wexford Capital LP acquired a new stake in shares of PDD in the third quarter valued at approximately $44,000. 39.83% of the stock is currently owned by institutional investors and hedge funds.

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.