PDD (NASDAQ:PDD) Shares Gap Down to $141.77

PDD Holdings Inc. (NASDAQ:PDDGet Free Report) shares gapped down before the market opened on Monday . The stock had previously closed at $141.77, but opened at $137.08. PDD shares last traded at $131.80, with a volume of 5,929,091 shares traded.

Wall Street Analyst Weigh In

PDD has been the topic of several research reports. The Goldman Sachs Group increased their price target on shares of PDD from $137.00 to $155.00 and gave the stock a “buy” rating in a research report on Tuesday, November 7th. UBS Group reissued a “buy” rating and set a $137.00 price target (up previously from $115.00) on shares of PDD in a research report on Wednesday, November 1st. Finally, Benchmark increased their price target on shares of PDD from $190.00 to $215.00 and gave the stock a “buy” rating in a research report on Tuesday, January 2nd. Ten analysts have rated the stock with a buy rating, According to MarketBeat, PDD currently has an average rating of “Buy” and a consensus target price of $128.04.

Read Our Latest Stock Analysis on PDD

PDD Trading Down 3.7 %

The company’s fifty day moving average is $142.32 and its two-hundred day moving average is $112.29. The stock has a market cap of $165.32 billion, a price-to-earnings ratio of 28.15, a PEG ratio of 0.45 and a beta of 0.78. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.01.

PDD (NASDAQ:PDDGet Free Report) last released its quarterly earnings data on Tuesday, November 28th. The company reported $11.61 earnings per share for the quarter, topping analysts’ consensus estimates of $8.94 by $2.67. PDD had a net margin of 23.25% and a return on equity of 34.07%. The company had revenue of $68.84 billion for the quarter, compared to analysts’ expectations of $55.18 billion. During the same quarter last year, the company earned $1.03 earnings per share. The firm’s revenue for the quarter was up 93.9% on a year-over-year basis. On average, research analysts predict that PDD Holdings Inc. will post 4.98 EPS for the current fiscal year.

Institutional Trading of PDD

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SC US Ttgp LTD. grew its position in shares of 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 acquiring an additional 45,048,300 shares during the last quarter. Baillie Gifford & Co. grew its position in shares of PDD by 6.4% during 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. grew its position in shares of PDD by 38.0% during the third quarter. Vanguard Group Inc. now owns 24,101,615 shares of the company’s stock worth $2,363,645,000 after acquiring an additional 6,637,418 shares during the last quarter. FMR LLC grew its position in shares of PDD by 32.6% during 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, Invesco Ltd. grew its position in shares of PDD by 5.4% during the third quarter. Invesco Ltd. now owns 7,349,430 shares of the company’s stock worth $720,759,000 after acquiring an additional 376,947 shares during the last quarter. Institutional investors and hedge funds own 31.08% of the company’s stock.

About PDD

(Get Free Report)

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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