PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) Given Consensus Rating of “Hold” by Analysts

PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) has received an average recommendation of “Hold” from the fifteen analysts that are presently covering the firm, Marketbeat Ratings reports. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $140.2667.

PDD has been the topic of a number of recent analyst reports. Nomura raised PDD from a “neutral” rating to a “buy” rating and set a $136.00 target price on the stock in a research report on Friday. Wall Street Zen lowered PDD from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Citigroup reissued a “neutral” rating on shares of PDD in a research note on Wednesday, January 28th. Loop Capital set a $170.00 price objective on shares of PDD in a research note on Tuesday, January 6th. Finally, Morgan Stanley set a $148.00 target price on shares of PDD in a report on Thursday, January 15th.

PDD Stock Performance

Shares of NASDAQ:PDD opened at $99.81 on Monday. The company has a market capitalization of $138.95 billion, a PE ratio of 10.62, a price-to-earnings-growth ratio of 0.88 and a beta of -0.01. The stock has a fifty day moving average of $102.89 and a 200-day moving average of $116.37. PDD has a one year low of $87.11 and a one year high of $139.41.

Hedge Funds Weigh In On PDD

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. TB Alternative Assets Ltd. raised its position in PDD by 62.5% during the third quarter. TB Alternative Assets Ltd. now owns 345,888 shares of the company’s stock valued at $45,716,000 after buying an additional 133,000 shares during the period. OVERSEA CHINESE BANKING Corp Ltd boosted its position in PDD by 17.3% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 368,564 shares of the company’s stock worth $48,694,000 after acquiring an additional 54,418 shares during the period. Campbell & CO Investment Adviser LLC purchased a new position in PDD during the 3rd quarter valued at about $2,790,000. Nomura Holdings Inc. increased its holdings in shares of PDD by 67.1% in the 2nd quarter. Nomura Holdings Inc. now owns 173,637 shares of the company’s stock valued at $18,173,000 after purchasing an additional 69,728 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of PDD by 4.5% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,719,535 shares of the company’s stock valued at $227,271,000 after purchasing an additional 74,225 shares during the period. 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.