PDD (NASDAQ:PDD) Sees Unusually-High Trading Volume

PDD Holdings Inc. (NASDAQ:PDD) saw unusually-high trading volume on Tuesday . Approximately 4,955,681 shares were traded during trading, a decline of 40% from the previous session’s volume of 8,265,528 shares.The stock last traded at $126.49 and had previously closed at $124.14.

Analyst Upgrades and Downgrades

PDD has been the subject of several analyst reports. Benchmark upped their target price on PDD from $215.00 to $220.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Citigroup increased their price objective on PDD from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Jefferies Financial Group increased their price objective on PDD from $157.00 to $161.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. The Goldman Sachs Group downgraded PDD from a “buy” rating to a “neutral” rating and set a $136.00 price objective for the company. in a research note on Monday, March 11th. Finally, Barclays increased their price objective on PDD from $164.00 to $178.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $146.85.

PDD Stock Performance

The company has a current ratio of 1.93, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03. The firm has a market cap of $169.30 billion, a price-to-earnings ratio of 21.66, a price-to-earnings-growth ratio of 0.29 and a beta of 0.67. The stock has a fifty day moving average price of $122.17 and a 200 day moving average price of $126.24.

PDD (NASDAQ:PDD) last issued its quarterly earnings data on Wednesday, March 20th. The company reported $2.23 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.81. The business had revenue of $12.52 billion for the quarter, compared to analyst estimates of $11.80 billion. PDD had a return on equity of 39.10% and a net margin of 24.23%. As a group, analysts predict that PDD Holdings Inc. will post 7.85 earnings per share for the current year.

Institutional Trading of PDD

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PDD. CWM LLC grew its holdings in PDD by 22.7% in the 3rd quarter. CWM LLC now owns 758 shares of the company’s stock valued at $74,000 after buying an additional 140 shares during the last quarter. AE Wealth Management LLC acquired a new stake in PDD in the 3rd quarter valued at approximately $542,000. Onyx Bridge Wealth Group LLC bought a new stake in shares of PDD in the 3rd quarter worth approximately $410,000. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV bought a new stake in shares of PDD in the 3rd quarter worth approximately $11,768,000. Finally, PDS Planning Inc bought a new stake in shares of PDD in the 3rd quarter worth approximately $217,000. Institutional investors and hedge funds own 29.07% of the company’s stock.

PDD Company Profile

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.