PDD (NASDAQ:PDD) Shares Down 4.1% – Should You Sell?

PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) traded down 4.1% during trading on Wednesday. The company traded as low as $78.09 and last traded at $78.3160. 1,648,161 shares were traded during mid-day trading, a decline of 79% from the average session volume of 7,695,279 shares. The stock had previously closed at $81.63.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Benchmark reduced their price target on PDD from $127.00 to $114.00 and set a “buy” rating for the company in a report on Tuesday, August 25th. Zacks Research upgraded shares of PDD from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 25th. Weiss Ratings cut shares of PDD from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, October 9th. JPMorgan Chase & Co. cut their price objective on shares of PDD from $110.00 to $95.00 and set a “neutral” rating on the stock in a research report on Thursday, September 10th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $105.00 price objective on shares of PDD in a research note on Monday, August 24th. Five analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $110.31.

PDD Price Performance

The stock has a market cap of $112.69 billion, a PE ratio of 8.67, a PEG ratio of 0.62 and a beta of -0.05. The company has a 50 day moving average price of $81.30 and a two-hundred day moving average price of $86.82.

PDD (NASDAQ:PDD) last released its quarterly earnings data on Friday, August 14th. The company reported $2.84 EPS for the quarter. PDD had a return on equity of 22.29% and a net margin of 20.73%. The company had revenue of $16.54 billion for the quarter. As a group, equities analysts predict that PDD Holdings Inc. Sponsored ADR will post 10.02 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PDD

Several hedge funds and other institutional investors have recently bought and sold shares of PDD. Grove Bank & Trust purchased a new stake in shares of PDD during the 2nd quarter valued at about $38,000. Integrated Wealth Concepts LLC purchased a new position in shares of PDD during the second quarter valued at approximately $52,000. Ramsey Quantitative Systems purchased a new position in shares of PDD during the second quarter valued at approximately $53,000. GK Wealth Management LLC purchased a new position in shares of PDD during the third quarter valued at approximately $55,000. Finally, FNY Investment Advisers LLC lifted its position in PDD by 166.7% during the second quarter. FNY Investment Advisers LLC now owns 1,600 shares of the company’s stock valued at $122,000 after purchasing an additional 1,000 shares during the period. Institutional investors own 39.83% of the company’s stock.

PDD Company Profile

PDD Holdings Inc is a multinational commerce group that operates online marketplace platforms connecting consumers with merchants, manufacturers and agricultural producers. The company’s platforms use interactive shopping features, including group purchasing and personalized product discovery, to offer a broad range of merchandise at competitive prices.

PDD Holdings’ businesses include Pinduoduo, an e-commerce platform serving consumers in China, and Temu, an online marketplace launched in 2022 that serves consumers across multiple international markets, including North America, Europe and other regions.