PDD (NASDAQ:PDD) Rating Lowered to “Hold” at Wall Street Zen

PDD (NASDAQ:PDD) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Several other analysts have also commented on PDD. Weiss Ratings restated a “hold (c+)” rating on shares of PDD in a report on Wednesday, October 8th. Sanford C. Bernstein set a $135.00 target price on PDD in a research report on Tuesday, November 18th. Bank of America lowered their target price on PDD from $141.00 to $140.00 and set a “neutral” rating for the company in a research note on Wednesday, November 19th. Arete Research set a $130.00 price target on PDD in a research report on Tuesday, December 9th. Finally, Morgan Stanley set a $148.00 price target on PDD in a research note on Thursday, January 15th. Four analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, PDD currently has a consensus rating of “Hold” and an average target price of $139.87.

PDD Trading Down 1.6%

NASDAQ:PDD opened at $101.05 on Friday. The company has a 50-day moving average price of $112.45 and a 200-day moving average price of $120.60. The stock has a market cap of $140.68 billion, a price-to-earnings ratio of 10.55, a P/E/G ratio of 0.94 and a beta of 0.02. PDD has a 12 month low of $87.11 and a 12 month high of $139.41.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in PDD by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 32,810,630 shares of the company’s stock worth $3,720,397,000 after acquiring an additional 425,908 shares in the last quarter. Norges Bank purchased a new position in shares of PDD in the 2nd quarter worth about $962,785,000. Sanders Capital LLC boosted its stake in PDD by 21.5% in the 2nd quarter. Sanders Capital LLC now owns 8,526,610 shares of the company’s stock worth $892,395,000 after purchasing an additional 1,508,445 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in PDD by 305.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 6,728,909 shares of the company’s stock worth $762,991,000 after purchasing an additional 5,070,827 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in PDD by 4.0% during the 2nd quarter. Geode Capital Management LLC now owns 6,226,538 shares of the company’s stock valued at $646,764,000 after purchasing an additional 240,627 shares during the last quarter. Hedge funds and other 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.