PDD (NASDAQ:PDD) Shares Down 1.4%

Shares of PDD Holdings Inc. (NASDAQ:PDD) fell 1.4% during mid-day trading on Wednesday . The company traded as low as $141.91 and last traded at $142.03. 1,862,382 shares traded hands during trading, a decline of 77% from the average session volume of 8,267,440 shares. The stock had previously closed at $144.02.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PDD. UBS Group lifted 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. Citigroup boosted their price objective on PDD from $185.00 to $198.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Sanford C. Bernstein increased their target price on PDD from $180.00 to $235.00 and gave the company an “outperform” rating in a report on Thursday, May 23rd. Benchmark lifted their price target on PDD from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Finally, 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. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $188.33.

PDD Price Performance

The company has a debt-to-equity ratio of 0.02, a current ratio of 2.09 and a quick ratio of 2.09. The firm has a market capitalization of $195.07 billion, a price-to-earnings ratio of 18.81, a PEG ratio of 0.23 and a beta of 0.63. The stock has a 50 day moving average price of $137.52 and a two-hundred day moving average price of $132.01.

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

Institutional Trading of PDD

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Future Financial Wealth Managment LLC purchased a new position in shares of PDD in the 1st quarter valued at $29,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of PDD during the second quarter worth about $32,000. Richardson Financial Services Inc. increased its position in shares of PDD by 3,883.3% during the second quarter. Richardson Financial Services Inc. now owns 239 shares of the company’s stock worth $32,000 after purchasing an additional 233 shares in the last quarter. Strategic Financial Concepts LLC purchased a new stake in shares of PDD in the 2nd quarter valued at about $40,000. Finally, Mather Group LLC. boosted its position in shares of PDD by 1,106.3% in the 2nd quarter. Mather Group LLC. now owns 386 shares of the company’s stock valued at $51,000 after purchasing an additional 354 shares during the period. 29.07% of the stock is currently owned by institutional investors and hedge funds.

About PDD

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.