PDD (NASDAQ:PDD) Shares Down 3.1% – What’s Next?

Shares of PDD Holdings Inc. (NASDAQ:PDD) traded down 3.1% during mid-day trading on Wednesday . The company traded as low as $118.02 and last traded at $118.36. 1,993,260 shares were traded during mid-day trading, a decline of 77% from the average session volume of 8,849,255 shares. The stock had previously closed at $122.19.

Wall Street Analysts Forecast Growth

PDD has been the topic of several analyst reports. JPMorgan Chase & Co. raised their target price on PDD from $105.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Citigroup reissued a “neutral” rating on shares of PDD in a research report on Thursday, March 20th. Jefferies Financial Group decreased their target price on shares of PDD from $171.00 to $156.00 and set a “buy” rating for the company in a research note on Thursday, March 20th. Nomura Securities lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, March 21st. Finally, Nomura reiterated a “neutral” rating and issued a $130.00 price objective (down previously from $137.00) on shares of PDD in a report on Thursday, March 20th. Five investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, PDD has an average rating of “Moderate Buy” and a consensus price target of $169.91.

PDD Stock Down 4.5 %

The stock has a market cap of $156.40 billion, a P/E ratio of 11.10, a PEG ratio of 0.32 and a beta of 0.73. The stock’s fifty day simple moving average is $119.28 and its 200-day simple moving average is $114.83. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp increased its holdings in shares of PDD by 8.7% in the 4th quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company’s stock worth $118,000 after acquiring an additional 97 shares during the period. Farther Finance Advisors LLC grew its position in PDD by 30.9% in the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company’s stock worth $54,000 after purchasing an additional 132 shares during the last quarter. New York Life Investment Management LLC increased its stake 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 purchasing an additional 139 shares during the period. Cibc World Markets Corp boosted its position in shares of PDD by 1.1% during the fourth quarter. Cibc World Markets Corp now owns 14,799 shares of the company’s stock worth $1,435,000 after buying an additional 164 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in PDD by 43.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company’s stock worth $80,000 after buying an additional 249 shares in the last quarter. 39.83% of the stock is currently owned by institutional investors.

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.