PDD (NASDAQ:PDD) Earns Hold Rating from China Renaissance

China Renaissance reissued their hold rating on shares of PDD (NASDAQ:PDD - Free Report) in a report issued on Wednesday morning, Marketbeat.com reports. The brokerage currently has a $107.00 price target on the stock.

Several other equities analysts also recently issued reports on the stock. Nomura reissued a "neutral" rating and set a $130.00 price objective (down previously from $137.00) on shares of PDD in a research note on Thursday, March 20th. JPMorgan Chase & Co. upped their price objective on shares of PDD from $105.00 to $125.00 and gave the company a "neutral" rating in a research note on Friday, March 21st. Jefferies Financial Group set a $121.00 price objective on shares of PDD and gave the company a "buy" rating in a research note on Tuesday. Nomura Securities downgraded shares of PDD from a "strong-buy" rating to a "hold" rating in a research note on Friday, March 21st. Finally, Citigroup raised shares of PDD from a "neutral" rating to a "buy" rating and upped their price objective for the company from $127.00 to $165.00 in a research note on Monday, May 12th. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $144.55.

PDD Price Performance

Shares of NASDAQ PDD traded down $1.56 on Wednesday, hitting $96.73. The company's stock had a trading volume of 17,167,316 shares, compared to its average volume of 11,094,871. PDD has a 12-month low of $87.11 and a 12-month high of $155.67. The company has a market capitalization of $134.66 billion, a price-to-earnings ratio of 9.45, a price-to-earnings-growth ratio of 0.32 and a beta of 0.57. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. The stock has a 50 day moving average of $107.49 and a 200-day moving average of $108.91.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PDD. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of PDD by 9,469.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,678,479 shares of the company's stock worth $4,695,948,000 after buying an additional 39,263,851 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd lifted its position in shares of PDD by 4,562.1% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 14,419,327 shares of the company's stock worth $1,706,527,000 after buying an additional 14,110,042 shares during the last quarter. Norges Bank bought a new position in shares of PDD in the 4th quarter worth about $812,246,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of PDD by 899.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,985,969 shares of the company's stock worth $1,063,489,000 after buying an additional 8,086,620 shares during the last quarter. Finally, Sanders Capital LLC bought a new position in shares of PDD in the 4th quarter worth about $499,972,000. 39.83% of the stock is currently owned by institutional investors.

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.