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

Shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) have been given a consensus rating of “Hold” by the fifteen brokerages that are covering the stock, Marketbeat Ratings reports. Ten equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $140.2667.

Several equities analysts have recently commented on the stock. Loop Capital set a $170.00 price target on shares of PDD in a report on Tuesday, January 6th. Citigroup reissued a “neutral” rating on shares of PDD in a research report on Wednesday, January 28th. Arete Research set a $130.00 target price on PDD in a research note on Tuesday, December 9th. Morgan Stanley set a $148.00 target price on PDD in a research report on Thursday, January 15th. Finally, Nomura raised PDD from a “neutral” rating to a “buy” rating and set a $136.00 price target for the company in a research note on Friday.

PDD Stock Performance

PDD stock opened at $99.81 on Monday. PDD has a twelve month low of $87.11 and a twelve month high of $139.41. The firm has a market cap of $138.95 billion, a PE ratio of 10.62, a P/E/G ratio of 0.88 and a beta of -0.01. The firm’s 50 day moving average price is $102.89 and its two-hundred day moving average price is $116.37.

Hedge Funds Weigh In On PDD

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PDD. Norges Bank acquired a new position in PDD during the fourth quarter worth $1,065,446,000. Assenagon Asset Management S.A. raised its holdings in PDD by 305.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 6,728,909 shares of the company’s stock valued at $762,991,000 after buying an additional 5,070,827 shares in the last quarter. Himalaya Capital Management LLC acquired a new stake in shares of PDD in the second quarter worth about $482,273,000. Dodge & Cox acquired a new stake in shares of PDD in the fourth quarter worth about $503,429,000. Finally, NetEase Inc. bought a new stake in shares of PDD during the 2nd quarter worth about $372,117,000. Institutional investors own 39.83% of the company’s stock.

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.