PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) Receives $140.27 Consensus PT from Analysts

Shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) have been given a consensus rating of “Hold” by the fifteen ratings firms that are presently covering the company, MarketBeat.com reports. Ten research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $140.2667.

A number of research analysts have weighed in on the stock. Nomura raised shares of PDD from a “neutral” rating to a “buy” rating and set a $136.00 price target on the stock in a research note on Friday, March 27th. Loop Capital set a $170.00 price objective on shares of PDD in a report on Tuesday, January 6th. Arete Research set a $130.00 price objective on shares of PDD in a research report on Tuesday, December 9th. Citigroup reaffirmed a “neutral” rating on shares of PDD in a research note on Wednesday, January 28th. Finally, Morgan Stanley set a $148.00 target price on PDD in a report on Thursday, January 15th.

PDD Stock Performance

Shares of PDD opened at $100.87 on Monday. The stock has a 50 day simple moving average of $102.38 and a 200 day simple moving average of $115.39. PDD has a 52-week low of $87.11 and a 52-week high of $139.41. The firm has a market capitalization of $140.43 billion, a PE ratio of 10.73, a P/E/G ratio of 0.95 and a beta of 0.07.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. GAMMA Investing LLC lifted its stake 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 grew its stake in shares of PDD by 281.7% during the 3rd quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock worth $36,000 after acquiring an additional 200 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of PDD by 230.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 377 shares of the company’s stock valued at $43,000 after purchasing an additional 263 shares during the last quarter. Wexford Capital LP bought a new stake in shares of PDD in the third quarter worth $44,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of PDD in the fourth quarter worth $44,000. 39.83% of the stock is currently owned by institutional investors.

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.