PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) Given Average Rating of “Hold” by Brokerages

PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) has received a consensus recommendation of “Hold” from the fifteen brokerages that are presently covering the company, MarketBeat Ratings reports. Nine analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $137.8571.

PDD has been the subject of a number of analyst reports. Wall Street Zen downgraded shares of PDD from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Arete Research raised shares of PDD from a “neutral” rating to a “buy” rating and set a $121.00 price objective for the company in a report on Friday, April 17th. Nomura raised shares of PDD from a “neutral” rating to a “buy” rating and set a $136.00 price objective for the company in a report on Friday, March 27th. Finally, Citigroup reaffirmed a “neutral” rating on shares of PDD in a report on Wednesday, January 28th.

PDD Stock Performance

NASDAQ:PDD opened at $94.52 on Tuesday. The company has a 50-day moving average of $99.59 and a 200-day moving average of $107.55. The company has a market capitalization of $134.54 billion, a price-to-earnings ratio of 10.06, a PEG ratio of 0.89 and a beta of 0.04. PDD has a 52 week low of $92.57 and a 52 week high of $139.41.

Institutional Investors Weigh In On PDD

A number of hedge funds have recently made changes to their positions in PDD. Focus Partners Wealth increased its position in shares of PDD by 352.8% during the 1st quarter. Focus Partners Wealth now owns 9,939 shares of the company’s stock worth $1,176,000 after purchasing an additional 7,744 shares in the last quarter. Intech Investment Management LLC increased its position in shares of PDD by 2.7% during the 1st quarter. Intech Investment Management LLC now owns 14,890 shares of the company’s stock worth $1,762,000 after purchasing an additional 395 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of PDD by 62.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,662 shares of the company’s stock worth $174,000 after purchasing an additional 637 shares in the last quarter. Cerity Partners LLC increased its position in shares of PDD by 2.0% during the 2nd quarter. Cerity Partners LLC now owns 19,696 shares of the company’s stock worth $2,061,000 after purchasing an additional 382 shares in the last quarter. Finally, CIBC Asset Management Inc increased its position in shares of PDD by 0.3% during the 2nd quarter. CIBC Asset Management Inc now owns 142,498 shares of the company’s stock worth $14,914,000 after purchasing an additional 369 shares in the last quarter. Institutional investors and hedge funds 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.