PDD (NASDAQ:PDD) Sees Large Volume Increase – Still a Buy?

PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) saw unusually-high trading volume on Wednesday . Approximately 7,533,395 shares were traded during trading, a decline of 18% from the previous session’s volume of 9,199,589 shares.The stock last traded at $107.9190 and had previously closed at $112.32.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PDD shares. Sanford C. Bernstein set a $135.00 price objective on PDD in a research note on Tuesday, November 18th. Zacks Research lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 27th. Arete cut shares of PDD from a “buy” rating to a “neutral” rating and set a $130.00 price target for the company. in a report on Tuesday, December 9th. Weiss Ratings reiterated a “hold (c+)” rating on shares of PDD in a research note on Wednesday, October 8th. Finally, Arete Research set a $130.00 target price on shares of PDD in a research report on Tuesday, December 9th. Five investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, PDD has a consensus rating of “Hold” and a consensus target price of $138.67.

PDD Stock Performance

The firm has a market capitalization of $150.84 billion, a price-to-earnings ratio of 11.29, a price-to-earnings-growth ratio of 1.11 and a beta of 0.02. The business’s 50 day moving average is $118.58 and its 200-day moving average is $120.74.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Westside Investment Management Inc. increased its holdings in shares of PDD by 398.0% during the 2nd quarter. Westside Investment Management Inc. now owns 249 shares of the company’s stock worth $26,000 after purchasing an additional 199 shares during the period. Ameritas Advisory Services LLC bought a new position in PDD during the second quarter valued at about $28,000. GAMMA Investing LLC raised its holdings in PDD by 595.0% in the 4th quarter. GAMMA Investing LLC now owns 278 shares of the company’s stock valued at $32,000 after acquiring an additional 238 shares in the last quarter. Binnacle Investments Inc lifted its position in shares of PDD by 281.7% in the 3rd quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock worth $36,000 after acquiring an additional 200 shares during the period. Finally, Wexford Capital LP acquired a new stake in shares of PDD during the 3rd quarter worth approximately $44,000. 39.83% of the stock is currently owned by institutional investors and hedge funds.

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.