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

Shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) have earned an average recommendation of “Hold” from the fifteen brokerages that are covering the stock, Marketbeat reports. Eleven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $139.8667.

Several equities analysts have recently commented on PDD shares. Arete Research set a $130.00 target price on shares of PDD in a report on Tuesday, December 9th. Loop Capital set a $170.00 price target on shares of PDD in a research note on Tuesday, January 6th. Morgan Stanley set a $148.00 price objective on shares of PDD in a report on Thursday, January 15th. Zacks Research cut PDD from a “strong-buy” rating to a “hold” rating in a report on Monday, October 27th. Finally, Citigroup reiterated a “neutral” rating on shares of PDD in a research report on Wednesday, January 28th.

PDD Trading Down 4.2%

Shares of PDD opened at $100.22 on Friday. The business’s 50 day moving average is $110.16 and its 200 day moving average is $120.07. PDD has a 12-month low of $87.11 and a 12-month high of $139.41. The company has a market capitalization of $139.52 billion and a PE ratio of 10.46.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PDD. Nipun Capital L.P. lifted its position in PDD by 65.7% during the fourth quarter. Nipun Capital L.P. now owns 28,000 shares of the company’s stock valued at $3,175,000 after purchasing an additional 11,100 shares during the last quarter. Federation des caisses Desjardins du Quebec raised its position in shares of PDD by 53.8% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 50,105 shares of the company’s stock valued at $5,681,000 after buying an additional 17,521 shares in the last quarter. DRW Securities LLC bought a new position in shares of PDD in the 4th quarter valued at about $873,000. Insigneo Advisory Services LLC grew its position in PDD by 7.2% in the fourth quarter. Insigneo Advisory Services LLC now owns 3,708 shares of the company’s stock worth $420,000 after acquiring an additional 248 shares in the last quarter. Finally, Orion Porfolio Solutions LLC increased its stake in PDD by 71.4% during the fourth quarter. Orion Porfolio Solutions LLC now owns 77,601 shares of the company’s stock worth $8,799,000 after acquiring an additional 32,339 shares during the last quarter. 39.83% of the stock is owned by hedge funds and other institutional investors.

About PDD

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.