PDD Holdings Inc. (NASDAQ:PDD – Get Free Report) shares saw unusually-strong trading volume on Tuesday . Approximately 4,955,681 shares traded hands during mid-day trading, a decline of 40% from the previous session’s volume of 8,265,528 shares.The stock last traded at $126.49 and had previously closed at $124.14.
Analyst Ratings Changes
Several equities research analysts have issued reports on PDD shares. Benchmark lifted their price target on shares of PDD from $215.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. JPMorgan Chase & Co. lowered their price target on shares of PDD from $195.00 to $190.00 and set an “overweight” rating on the stock in a research note on Thursday, March 21st. Jefferies Financial Group lifted their price target on shares of PDD from $157.00 to $161.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. The Goldman Sachs Group lowered shares of PDD from a “buy” rating to a “neutral” rating and set a $136.00 price target on the stock. in a research note on Monday, March 11th. Finally, Citigroup lifted their price target on shares of PDD from $170.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PDD presently has an average rating of “Moderate Buy” and a consensus price target of $146.85.
Get Our Latest Stock Report on PDD
PDD Stock Down 0.4 %
PDD (NASDAQ:PDD – Get Free Report) last announced its quarterly earnings results on Wednesday, March 20th. The company reported $2.23 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.81. PDD had a net margin of 24.23% and a return on equity of 39.10%. The business had revenue of $12.52 billion for the quarter, compared to analyst estimates of $11.80 billion. Sell-side analysts anticipate that PDD Holdings Inc. will post 7.85 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of PDD. SC US Ttgp LTD. grew its stake in PDD by 1,414.4% in the 3rd quarter. SC US Ttgp LTD. now owns 48,233,322 shares of the company’s stock valued at $4,730,242,000 after buying an additional 45,048,300 shares during the last quarter. Norges Bank acquired a new position in PDD in the 4th quarter valued at about $1,075,172,000. Vanguard Group Inc. boosted its holdings in PDD by 38.0% in the 3rd quarter. Vanguard Group Inc. now owns 24,101,615 shares of the company’s stock valued at $2,363,645,000 after purchasing an additional 6,637,418 shares during the period. Assenagon Asset Management S.A. boosted its holdings in PDD by 15,755.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 5,087,255 shares of the company’s stock valued at $591,393,000 after purchasing an additional 5,055,169 shares during the period. Finally, Baillie Gifford & Co. boosted its holdings in PDD by 14.4% in the 3rd quarter. Baillie Gifford & Co. now owns 35,668,170 shares of the company’s stock valued at $3,497,977,000 after purchasing an additional 4,501,126 shares during the period. Institutional investors and hedge funds own 29.07% of the company’s stock.
PDD Company Profile
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.
Featured Stories
- Five stocks we like better than PDD
- 3 Fintech Stocks With Good 2021 Prospects
- High-Yield Texas Instruments Could Hit New Highs Soon
- Russell 2000 Index, How Investors Use it For Profitable Trading
- Pagaya Technologies: An AI Fintech That Insiders Are Buying
- What is the Australian Securities Exchange (ASX)
- Higher Oil Prices Could Give NextEra’s Stock Earnings a Boost
Receive News & Ratings for PDD Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PDD and related companies with MarketBeat.com's FREE daily email newsletter.