PDD (NASDAQ:PDD) Trading Down 5.9% – Should You Sell?

Shares of PDD Holdings Inc. (NASDAQ:PDD) were down 5.9% during mid-day trading on Monday . The stock traded as low as $104.80 and last traded at $105.31. Approximately 11,326,403 shares were traded during mid-day trading, an increase of 48% from the average daily volume of 7,649,852 shares. The stock had previously closed at $111.91.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PDD. Benchmark dropped their price target on shares of PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Jefferies Financial Group dropped their price objective on shares of PDD from $181.00 to $171.00 and set a “buy” rating for the company in a research note on Thursday, November 21st. JPMorgan Chase & Co. lowered PDD from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $170.00 to $105.00 in a research note on Friday, November 22nd. Finally, Dbs Bank lowered PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. Three investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $173.40.

PDD Trading Down 3.4 %

The firm has a 50-day moving average of $102.04 and a two-hundred day moving average of $114.78. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $151.54 billion, a P/E ratio of 10.76, a P/E/G ratio of 0.29 and a beta of 0.66.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. US Bancorp DE raised its holdings in shares of PDD by 14.2% in the 4th quarter. US Bancorp DE now owns 9,079 shares of the company’s stock worth $881,000 after purchasing an additional 1,127 shares during the period. SVB Wealth LLC purchased a new position in shares of PDD during the fourth quarter worth approximately $421,000. Central Asset Investments & Management Holdings HK Ltd purchased a new stake in PDD during the 4th quarter valued at about $339,000. New York Life Investment Management LLC increased its position in shares of PDD by 5.8% in the fourth quarter. New York Life Investment Management LLC now owns 2,528 shares of the company’s stock valued at $245,000 after acquiring an additional 139 shares during the period. Finally, GenTrust LLC purchased a new stake in PDD in the fourth quarter worth $323,000. Institutional investors own 39.83% of the company’s stock.

PDD Company Profile

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.