PDD (NASDAQ:PDD) Sees Large Volume Increase

Shares of PDD Holdings Inc. (NASDAQ:PDD) saw an uptick in trading volume on Thursday . 10,299,986 shares were traded during trading, an increase of 23% from the previous session’s volume of 8,367,774 shares.The stock last traded at $135.81 and had previously closed at $124.49.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PDD. Jefferies Financial Group lifted their target price on PDD from $157.00 to $161.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Benchmark raised their target price on PDD from $215.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. The Goldman Sachs Group cut shares of PDD from a “buy” rating to a “neutral” rating and set a $136.00 price objective on the stock. in a report on Monday, March 11th. Barclays boosted their target price on shares of PDD from $164.00 to $178.00 and gave the company an “overweight” rating in a research note on Thursday, March 21st. Finally, Citigroup raised their price target on shares of PDD from $170.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $146.85.

PDD Price Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.93 and a current ratio of 1.93. The stock has a market cap of $184.98 billion, a PE ratio of 24.46, a PEG ratio of 0.36 and a beta of 0.67. The stock has a 50 day moving average of $121.47 and a two-hundred day moving average of $127.12.

PDD (NASDAQ:PDD) last posted its quarterly earnings data on Wednesday, March 20th. The company reported $2.23 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.81. The firm had revenue of $12.52 billion for the quarter, compared to analysts’ expectations of $11.80 billion. PDD had a net margin of 24.23% and a return on equity of 39.10%. Equities analysts anticipate that PDD Holdings Inc. will post 7.85 EPS for the current year.

Institutional Trading of PDD

A number of institutional investors have recently bought and sold shares of PDD. Eos Management L.P. bought a new stake in PDD in the first quarter worth $879,000. Mediolanum International Funds Ltd acquired a new stake in shares of PDD in the first quarter worth about $3,620,000. Coronation Fund Managers Ltd. boosted its stake in shares of PDD by 91.8% during the 1st quarter. Coronation Fund Managers Ltd. now owns 1,354,291 shares of the company’s stock worth $157,436,000 after acquiring an additional 648,140 shares in the last quarter. Rehmann Capital Advisory Group increased its holdings in shares of PDD by 8.8% during the 1st quarter. Rehmann Capital Advisory Group now owns 2,395 shares of the company’s stock valued at $278,000 after acquiring an additional 194 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its stake in shares of PDD by 11.7% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 3,750 shares of the company’s stock valued at $436,000 after acquiring an additional 394 shares in the last quarter. 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.