PDD (NASDAQ:PDD) Trading Down 4.7% on Analyst Downgrade

PDD Holdings Inc. (NASDAQ:PDD - Get Free Report)'s stock price traded down 4.7% during trading on Wednesday after JPMorgan Chase & Co. lowered their price target on the stock from $125.00 to $105.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. PDD traded as low as $98.69 and last traded at $98.10. 10,712,350 shares were traded during trading, a decline of 3% from the average session volume of 11,050,054 shares. The stock had previously closed at $102.98.

Several other brokerages have also recently issued reports on PDD. Nomura restated a "neutral" rating and issued a $130.00 target price (down previously from $137.00) on shares of PDD in a report on Thursday, March 20th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $112.00 target price on shares of PDD in a report on Wednesday. Nomura Securities cut shares of PDD from a "strong-buy" rating to a "hold" rating in a report on Friday, March 21st. Jefferies Financial Group set a $121.00 target price on shares of PDD and gave the stock a "buy" rating in a report on Tuesday, May 27th. Finally, China Renaissance restated a "hold" rating and issued a $107.00 target price on shares of PDD in a report on Wednesday. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $144.55.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Jones Financial Companies Lllp raised its position in shares of PDD by 8.7% during the 4th quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company's stock valued at $118,000 after purchasing an additional 97 shares during the period. Signaturefd LLC increased its holdings in PDD by 1.3% in the 1st quarter. Signaturefd LLC now owns 8,957 shares of the company's stock valued at $1,060,000 after acquiring an additional 119 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in PDD by 30.9% in the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock valued at $54,000 after acquiring an additional 132 shares during the last quarter. Focus Financial Network Inc. increased its holdings in PDD by 6.3% in the 1st quarter. Focus Financial Network Inc. now owns 2,279 shares of the company's stock valued at $270,000 after acquiring an additional 136 shares during the last quarter. Finally, New York Life Investment Management LLC increased its holdings in PDD by 5.8% in the 4th quarter. New York Life Investment Management LLC now owns 2,528 shares of the company's stock valued at $245,000 after acquiring an additional 139 shares during the last quarter. Hedge funds and other institutional investors own 39.83% of the company's stock.

PDD Stock Performance

The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. The company has a market capitalization of $134.66 billion, a P/E ratio of 9.45, a P/E/G ratio of 0.32 and a beta of 0.57. The business's fifty day simple moving average is $106.92 and its 200-day simple moving average is $108.76.

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.