PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) Given Average Recommendation of “Hold” by Brokerages

PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) has received a consensus recommendation of “Hold” from the fifteen research firms that are currently covering the stock, MarketBeat reports. Eleven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $139.8667.

Several analysts have weighed in on the company. Wall Street Zen lowered PDD from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Loop Capital set a $170.00 price objective on shares of PDD in a research report on Tuesday, January 6th. Morgan Stanley set a $148.00 price objective on shares of PDD in a research note on Thursday, January 15th. Arete Research set a $130.00 target price on shares of PDD in a research report on Tuesday, December 9th. Finally, Bank of America reduced their price target on shares of PDD from $141.00 to $140.00 and set a “neutral” rating on the stock in a report on Wednesday, November 19th.

PDD Trading Up 3.7%

PDD stock opened at $105.23 on Friday. The firm has a 50 day moving average of $111.26 and a 200-day moving average of $120.48. The company has a market cap of $146.50 billion and a price-to-earnings ratio of 10.98. PDD has a 12-month low of $87.11 and a 12-month high of $139.41.

Institutional Investors Weigh In On PDD

A number of large investors have recently bought and sold shares of PDD. Global Retirement Partners LLC raised its holdings in shares of PDD by 214.3% in the fourth quarter. Global Retirement Partners LLC now owns 1,389 shares of the company’s stock worth $157,000 after acquiring an additional 947 shares during the last quarter. ABN Amro Investment Solutions acquired a new stake in shares of PDD during the fourth quarter valued at $714,000. IFP Advisors Inc increased its position in PDD by 5,346.4% during the 4th quarter. IFP Advisors Inc now owns 3,050 shares of the company’s stock worth $346,000 after purchasing an additional 2,994 shares in the last quarter. Banque Cantonale Vaudoise increased its position in PDD by 50.6% during the 4th quarter. Banque Cantonale Vaudoise now owns 5,665 shares of the company’s stock worth $642,000 after purchasing an additional 1,904 shares in the last quarter. Finally, Greenwoods Asset Management Hong Kong Ltd. raised its stake in PDD by 18.2% in the 4th quarter. Greenwoods Asset Management Hong Kong Ltd. now owns 3,968,270 shares of the company’s stock valued at $449,962,000 after purchasing an additional 611,306 shares during the last quarter. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Company Profile

PDD (NASDAQ: PDD) is the holding company best known for operating Pinduoduo, a China-based, mobile-first e-commerce platform that emphasizes interactive, social shopping and group-buying mechanics to drive user engagement and low prices. Founded in 2015 by entrepreneur Colin Huang, the business has grown by connecting consumers directly with merchants and manufacturers, with particular emphasis on value-oriented goods and fresh agricultural produce. The company is based in Shanghai and completed a U.S.