PDD Holdings Inc. (NASDAQ:PDD – Get Free Report) shares gapped down before the market opened on Tuesday . The stock had previously closed at $119.87, but opened at $115.71. PDD shares last traded at $118.41, with a volume of 2,642,264 shares.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on PDD shares. Barclays raised their price target on shares of PDD from $164.00 to $178.00 and gave the stock an “overweight” rating in a research note on Thursday, March 21st. Benchmark boosted their target price on shares of PDD from $215.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Citigroup boosted their target price on shares of PDD from $170.00 to $185.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. The Goldman Sachs Group downgraded shares of PDD from a “buy” rating to a “neutral” rating and set a $136.00 target price on the stock. in a report on Monday, March 11th. Finally, JPMorgan Chase & Co. lowered their target price on shares of PDD from $195.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, March 21st. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, PDD has an average rating of “Moderate Buy” and an average target price of $146.85.
View Our Latest Stock Report on PDD
PDD Stock Performance
Institutional Investors Weigh In On PDD
Several institutional investors and hedge funds have recently bought and sold shares of the company. SC US Ttgp LTD. lifted its position in PDD by 1,414.4% during the third quarter. SC US Ttgp LTD. now owns 48,233,322 shares of the company’s stock worth $4,730,242,000 after purchasing an additional 45,048,300 shares during the period. Baillie Gifford & Co. lifted its holdings in shares of PDD by 6.4% in the fourth quarter. Baillie Gifford & Co. now owns 37,960,238 shares of the company’s stock worth $5,553,962,000 after acquiring an additional 2,292,068 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of PDD by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 24,163,927 shares of the company’s stock worth $3,535,424,000 after acquiring an additional 62,312 shares during the last quarter. FMR LLC lifted its holdings in shares of PDD by 32.6% in the third quarter. FMR LLC now owns 17,635,104 shares of the company’s stock worth $1,729,475,000 after acquiring an additional 4,334,186 shares during the last quarter. Finally, Hhlr Advisors LTD. lifted its holdings in shares of PDD by 37.5% in the fourth quarter. Hhlr Advisors LTD. now owns 10,110,947 shares of the company’s stock worth $1,479,333,000 after acquiring an additional 2,760,100 shares during the last quarter. Institutional investors 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.
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