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

PDD Holdings Inc. (NASDAQ:PDD) shares saw unusually-high trading volume on Tuesday . Approximately 4,955,681 shares changed hands during mid-day 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 a number of research analyst reports. JPMorgan Chase & Co. cut their target price on PDD from $195.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday, March 21st. Benchmark upped their target price on PDD from $215.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. The Goldman Sachs Group downgraded PDD from a “buy” rating to a “neutral” rating and set a $136.00 target price for the company. in a research report on Monday, March 11th. Citigroup increased their price objective on PDD from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Finally, Jefferies Financial Group increased their price objective on PDD from $157.00 to $161.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $146.85.

PDD Price Performance

The stock has a fifty day moving average price of $122.06 and a 200-day moving average price of $126.40. The company has a market cap of $168.31 billion, a PE ratio of 22.26, a price-to-earnings-growth ratio of 0.33 and a beta of 0.67. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.93 and a quick ratio of 1.83.

PDD (NASDAQ:PDD) last released its earnings results on Wednesday, March 20th. The company reported $2.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.42 by $0.81. The company had revenue of $12.52 billion during 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%. On average, equities analysts expect that PDD Holdings Inc. will post 7.85 earnings per share for the current year.

Institutional Trading of PDD

A number of hedge funds have recently modified their holdings of PDD. CWM LLC increased its stake in shares of PDD by 22.7% in the third quarter. CWM LLC now owns 758 shares of the company’s stock worth $74,000 after acquiring an additional 140 shares during the last quarter. AE Wealth Management LLC acquired a new position in shares of PDD in the third quarter worth $542,000. PDS Planning Inc acquired a new position in shares of PDD in the third quarter worth $217,000. Compagnie Lombard Odier SCmA increased its stake in shares of PDD by 15,437.6% in the third quarter. Compagnie Lombard Odier SCmA now owns 85,457 shares of the company’s stock worth $8,381,000 after acquiring an additional 84,907 shares during the last quarter. Finally, Cigna Investments Inc. New increased its stake in shares of PDD by 23.0% in the third quarter. Cigna Investments Inc. New now owns 11,903 shares of the company’s stock worth $1,167,000 after acquiring an additional 2,224 shares during the last quarter. Hedge funds and other institutional investors 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.