PDD (NASDAQ:PDD) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of PDD (NASDAQ:PDD) from a buy rating to a hold rating in a research report released on Saturday morning.

A number of other research firms also recently weighed in on PDD. Zacks Research downgraded PDD from a “strong-buy” rating to a “hold” rating in a report on Monday, October 27th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of PDD in a research report on Wednesday, October 8th. Morgan Stanley set a $148.00 price objective on shares of PDD in a research note on Thursday, January 15th. Citigroup restated a “neutral” rating on shares of PDD in a research report on Wednesday, January 28th. Finally, Sanford C. Bernstein set a $135.00 target price on shares of PDD in a report on Tuesday, November 18th. Four investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $139.87.

PDD Trading Up 2.4%

NASDAQ:PDD opened at $103.49 on Friday. The stock has a 50 day simple moving average of $112.25 and a 200 day simple moving average of $120.79. The stock has a market cap of $144.07 billion and a P/E ratio of 10.80. PDD has a 1-year low of $87.11 and a 1-year high of $139.41.

Institutional Trading of PDD

Institutional investors and hedge funds have recently made changes to their positions in the company. Gunderson Capital Management Inc. increased its stake in PDD by 5.5% in the second quarter. Gunderson Capital Management Inc. now owns 1,944 shares of the company’s stock valued at $203,000 after acquiring an additional 101 shares during the last quarter. Advisory Services Network LLC lifted its stake in PDD by 0.7% during the third quarter. Advisory Services Network LLC now owns 15,458 shares of the company’s stock worth $2,043,000 after purchasing an additional 102 shares during the last quarter. West Family Investments Inc. boosted its holdings in shares of PDD by 2.8% in the 3rd quarter. West Family Investments Inc. now owns 4,026 shares of the company’s stock valued at $532,000 after purchasing an additional 110 shares in the last quarter. Lido Advisors LLC increased its stake in shares of PDD by 4.6% in the 2nd quarter. Lido Advisors LLC now owns 2,633 shares of the company’s stock valued at $276,000 after purchasing an additional 115 shares during the last quarter. Finally, Range Financial Group LLC increased its stake in shares of PDD by 3.4% in the 3rd quarter. Range Financial Group LLC now owns 3,489 shares of the company’s stock valued at $461,000 after purchasing an additional 116 shares during the last quarter. Institutional investors own 39.83% of the company’s stock.

PDD Company Profile

PDD (NASDAQ: PDD) is the holding company best known for operating Pinduoduo, a China-based, mobile-first e-commerce platform that emphasizes interactive, social shopping and group-buying mechanics to drive user engagement and low prices. Founded in 2015 by entrepreneur Colin Huang, the business has grown by connecting consumers directly with merchants and manufacturers, with particular emphasis on value-oriented goods and fresh agricultural produce. The company is based in Shanghai and completed a U.S.