PDD (NASDAQ:PDD) Shares Gap Down to $138.23

PDD Holdings Inc. (NASDAQ:PDD)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $138.23, but opened at $135.12. PDD shares last traded at $135.83, with a volume of 674,429 shares.

Analyst Ratings Changes

Several research firms have recently issued reports on PDD. Jefferies Financial Group raised their price target on PDD from $157.00 to $161.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Benchmark lifted their target price on PDD from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, May 23rd. UBS Group lifted their target price on PDD from $248.00 to $272.00 and gave the stock a “buy” rating in a report on Wednesday, May 22nd. JPMorgan Chase & Co. reduced their target price on PDD from $195.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, March 21st. Finally, The Goldman Sachs Group upgraded PDD from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $145.00 to $184.00 in a report on Friday, May 24th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, PDD has a consensus rating of “Buy” and a consensus price target of $188.33.

PDD Trading Up 0.8 %

The company has a market capitalization of $182.92 billion, a P/E ratio of 17.61, a price-to-earnings-growth ratio of 0.23 and a beta of 0.64. The business has a fifty day moving average price of $141.54 and a 200 day moving average price of $134.87. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.02.

PDD (NASDAQ:PDD) last issued its quarterly earnings results on Wednesday, May 22nd. The company reported $2.63 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $1.19. The company had revenue of $12.02 billion for the quarter, compared to analyst estimates of $10.62 billion. PDD had a return on equity of 45.04% and a net margin of 26.93%. On average, analysts expect that PDD Holdings Inc. will post 11.41 earnings per share for the current fiscal year.

Institutional Trading of PDD

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. SC US Ttgp LTD. increased its position in shares of PDD by 1,414.4% in the third quarter. SC US Ttgp LTD. now owns 48,233,322 shares of the company’s stock valued at $4,730,242,000 after acquiring an additional 45,048,300 shares during the last quarter. Baillie Gifford & Co. increased its position in shares of PDD by 6.4% in the fourth quarter. Baillie Gifford & Co. now owns 37,960,238 shares of the company’s stock valued at $5,553,962,000 after acquiring an additional 2,292,068 shares during the last quarter. Vanguard Group Inc. increased its position in shares of PDD by 0.4% in the first quarter. Vanguard Group Inc. now owns 24,261,575 shares of the company’s stock valued at $2,820,408,000 after acquiring an additional 97,648 shares during the last quarter. Hhlr Advisors LTD. increased its position in shares of PDD by 16.6% in the first quarter. Hhlr Advisors LTD. now owns 11,791,547 shares of the company’s stock valued at $1,370,767,000 after acquiring an additional 1,680,600 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of PDD in the fourth quarter valued at about $1,075,172,000. Institutional investors and hedge funds own 29.07% of the company’s stock.

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.