PDD (NASDAQ:PDD) Lowered to “Neutral” Rating by Arete Research

Arete Research downgraded shares of PDD (NASDAQ:PDD) from a buy rating to a neutral rating in a research report report published on Tuesday morning, Marketbeat Ratings reports. The brokerage currently has $130.00 target price on the stock.

A number of other equities analysts have also recently commented on the stock. Zacks Research cut shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Monday, October 27th. Sanford C. Bernstein set a $135.00 price objective on shares of PDD in a research report on Tuesday, November 18th. Benchmark reaffirmed a “buy” rating and issued a $160.00 target price (up from $128.00) on shares of PDD in a report on Tuesday, August 26th. Wall Street Zen upgraded shares of PDD from a “hold” rating to a “buy” rating in a research note on Saturday, November 22nd. Finally, Citigroup restated a “buy” rating on shares of PDD in a research report on Monday, August 25th. Five investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $136.43.

PDD Stock Down 0.4%

PDD opened at $117.14 on Tuesday. PDD has a 52 week low of $87.11 and a 52 week high of $139.41. The business’s 50 day moving average is $127.78 and its two-hundred day moving average is $118.67. The firm has a market cap of $163.08 billion, a price-to-earnings ratio of 12.23, a price-to-earnings-growth ratio of 1.39 and a beta of 0.07.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PDD. Norges Bank acquired a new stake in shares of PDD in the 2nd quarter worth approximately $962,785,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in PDD by 899.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,985,969 shares of the company’s stock valued at $1,063,489,000 after purchasing an additional 8,086,620 shares during the last quarter. Himalaya Capital Management LLC purchased a new stake in shares of PDD in the 2nd quarter worth about $482,273,000. Hhlr Advisors LTD. grew its stake in PDD by 140.4% in the 1st quarter. Hhlr Advisors LTD. now owns 6,562,576 shares of the company’s stock valued at $776,681,000 after acquiring an additional 3,832,301 shares during the last quarter. Finally, NetEase Inc. acquired a new stake in PDD in the 2nd quarter valued at about $372,117,000. 39.83% of the stock is owned by hedge funds and other institutional investors.

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.