PDD (NASDAQ:PDD) Shares Down 1.1%

Shares of PDD Holdings Inc. (NASDAQ:PDD) fell 1.1% on Wednesday . The company traded as low as $110.45 and last traded at $112.50. 4,981,969 shares traded hands during trading, a decline of 49% from the average session volume of 9,763,607 shares. The stock had previously closed at $113.80.

Wall Street Analyst Weigh In

PDD has been the subject of a number of analyst reports. Nomura Securities upgraded shares of PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. Jefferies Financial Group cut their price target on shares of PDD from $193.00 to $151.00 and set a “buy” rating for the company in a research note on Monday, August 26th. Macquarie cut shares of PDD from an “outperform” rating to a “neutral” rating in a research note on Monday, August 26th. Benchmark cut their target price on shares of PDD from $230.00 to $185.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Finally, Bank of America cut their target price on shares of PDD from $206.00 to $170.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $177.78.

PDD Stock Down 0.1 %

The company has a market cap of $156.41 billion, a price-to-earnings ratio of 14.90, a price-to-earnings-growth ratio of 0.25 and a beta of 0.69. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.02. The firm’s fifty day moving average price is $118.82 and its 200-day moving average price is $128.45.

PDD (NASDAQ:PDD) last announced its quarterly earnings results on Monday, August 26th. The company reported $23.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.66 by $20.58. The company had revenue of $97.06 billion during the quarter, compared to analyst estimates of $100.17 billion. PDD had a net margin of 28.92% and a return on equity of 48.14%. The firm’s revenue was up 85.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.27 EPS. Sell-side analysts predict that PDD Holdings Inc. will post 11.05 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PDD. Corient Private Wealth LLC grew its position in shares of PDD by 19.9% during the 4th quarter. Corient Private Wealth LLC now owns 8,148 shares of the company’s stock worth $1,192,000 after purchasing an additional 1,350 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of PDD by 31.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock worth $62,000 after purchasing an additional 101 shares in the last quarter. US Bancorp DE grew its position in shares of PDD by 65.2% during the 4th quarter. US Bancorp DE now owns 7,578 shares of the company’s stock worth $1,109,000 after purchasing an additional 2,991 shares in the last quarter. Advisory Services Network LLC grew its position in shares of PDD by 9.5% during the 4th quarter. Advisory Services Network LLC now owns 17,161 shares of the company’s stock worth $2,511,000 after purchasing an additional 1,484 shares in the last quarter. Finally, Congress Wealth Management LLC DE bought a new position in PDD in the fourth quarter valued at approximately $610,000. Institutional investors and hedge funds own 29.07% 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.