PDD (NASDAQ:PDD) Trading Down 5.5% Following Analyst Downgrade

PDD Holdings Inc. (NASDAQ:PDD) fell 5.5% during trading on Friday after Jefferies Financial Group lowered their price target on the stock from $171.00 to $156.00. Jefferies Financial Group currently has a buy rating on the stock. PDD traded as low as $123.54 and last traded at $123.69. 3,888,119 shares traded hands during trading, a decline of 63% from the average session volume of 10,440,885 shares. The stock had previously closed at $130.92.

A number of other equities research analysts have also recently commented on the stock. Dbs Bank cut shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. downgraded shares of PDD from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $170.00 to $105.00 in a research report on Friday, November 22nd. Finally, Benchmark cut their price target on PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, PDD has a consensus rating of “Moderate Buy” and a consensus price target of $168.09.

Institutional Investors Weigh In On PDD

Several large investors have recently made changes to their positions in PDD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in PDD by 1,374.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,145,211 shares of the company’s stock worth $1,772,106,000 after purchasing an additional 12,253,589 shares during the period. Norges Bank acquired a new stake in shares of PDD in the fourth quarter worth $812,246,000. Sanders Capital LLC purchased a new position in PDD during the 4th quarter valued at about $499,972,000. FMR LLC increased its stake in PDD by 22.3% in the 4th quarter. FMR LLC now owns 25,603,183 shares of the company’s stock valued at $2,483,253,000 after buying an additional 4,673,022 shares during the period. Finally, H&H International Investment LLC raised its holdings in shares of PDD by 3,693.8% during the third quarter. H&H International Investment LLC now owns 3,907,600 shares of the company’s stock worth $526,784,000 after acquiring an additional 3,804,600 shares in the last quarter. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Trading Down 4.5 %

The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. The firm has a market cap of $172.00 billion, a P/E ratio of 12.21, a PEG ratio of 0.32 and a beta of 0.69. The company has a 50 day moving average of $115.12 and a 200 day moving average of $112.92.

PDD (NASDAQ:PDD) last announced its quarterly earnings data on Thursday, March 20th. The company reported $20.15 EPS for the quarter, beating analysts’ consensus estimates of $2.56 by $17.59. PDD had a net margin of 29.05% and a return on equity of 46.08%. The business had revenue of $110.61 billion during the quarter, compared to analyst estimates of $115.77 billion. During the same quarter in the prior year, the business earned $17.32 earnings per share. The firm’s revenue for the quarter was up 24.4% on a year-over-year basis. Analysts predict that PDD Holdings Inc. will post 10.24 EPS for the current fiscal year.

About PDD

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.