PDD (NASDAQ:PDD) Stock Price Down 3.8% – Should You Sell?

PDD Holdings Inc. (NASDAQ:PDD) shares traded down 3.8% on Friday . The stock traded as low as $100.55 and last traded at $100.65. 1,491,987 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 10,685,932 shares. The stock had previously closed at $104.66.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Daiwa America raised shares of PDD to a “strong-buy” rating in a report on Tuesday, August 27th. Barclays reduced their price target on shares of PDD from $224.00 to $158.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 27th. Macquarie upgraded shares of PDD from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $126.00 to $224.00 in a research report on Monday, October 7th. Sanford C. Bernstein reduced their price target on shares of PDD from $235.00 to $170.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 27th. Finally, Jefferies Financial Group reduced their price target on shares of PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $173.40.

PDD Trading Down 2.3 %

The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. The company has a market capitalization of $140.71 billion, a price-to-earnings ratio of 9.99, a P/E/G ratio of 0.30 and a beta of 0.66. The business’s 50-day simple moving average is $116.95 and its 200-day simple moving average is $125.06.

Institutional Trading of PDD

Hedge funds have recently modified their holdings of the company. Gordian Capital Singapore Pte Ltd raised its position in shares of PDD by 1,218.9% in the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 6,990 shares of the company’s stock valued at $942,000 after acquiring an additional 6,460 shares during the period. TB Alternative Assets Ltd. increased its stake in PDD by 33.7% during the 3rd quarter. TB Alternative Assets Ltd. now owns 173,148 shares of the company’s stock worth $23,342,000 after purchasing an additional 43,648 shares in the last quarter. Vontobel Holding Ltd. increased its stake in PDD by 13.3% during the 3rd quarter. Vontobel Holding Ltd. now owns 234,325 shares of the company’s stock worth $31,589,000 after purchasing an additional 27,567 shares in the last quarter. Jupiter Asset Management Ltd. increased its stake in PDD by 63.7% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 230,917 shares of the company’s stock worth $30,700,000 after purchasing an additional 89,853 shares in the last quarter. Finally, BOCHK Asset Management Ltd increased its stake in PDD by 3,391.7% during the 3rd quarter. BOCHK Asset Management Ltd now owns 41,900 shares of the company’s stock worth $5,649,000 after purchasing an additional 40,700 shares in the last quarter. 39.83% 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.