PDD (NASDAQ:PDD) Cut to “Hold” at Nomura Securities

Nomura Securities lowered shares of PDD (NASDAQ:PDD) from a strong-buy rating to a hold rating in a research report report published on Friday,Zacks.com reports.

A number of other equities analysts have also weighed in on PDD. Nomura reiterated a “neutral” rating and issued a $130.00 price target (down from $137.00) on shares of PDD in a research report on Thursday. JPMorgan Chase & Co. increased their price target on PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday. Dbs Bank cut PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Benchmark reaffirmed a “buy” rating and issued a $160.00 price objective on shares of PDD in a research note on Friday. Finally, Jefferies Financial Group decreased their target price on PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a research note on Thursday. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, PDD currently has an average rating of “Moderate Buy” and a consensus price target of $169.91.

PDD Stock Down 3.3 %

NASDAQ PDD opened at $126.64 on Friday. PDD has a 52 week low of $88.01 and a 52 week high of $164.69. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $174.24 billion, a P/E ratio of 12.37, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69. The stock’s 50-day moving average price is $115.75 and its 200-day moving average price is $113.38.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PDD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of PDD by 1,374.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,145,211 shares of the company’s stock worth $1,772,106,000 after purchasing an additional 12,253,589 shares during the period. Norges Bank bought a new stake in PDD in the fourth quarter worth $812,246,000. Sanders Capital LLC purchased a new position in PDD during the fourth quarter worth $499,972,000. FMR LLC increased its position in PDD by 22.3% during the fourth quarter. FMR LLC now owns 25,603,183 shares of the company’s stock valued at $2,483,253,000 after acquiring an additional 4,673,022 shares during the last quarter. Finally, H&H International Investment LLC raised its stake in shares of PDD by 3,693.8% in the third quarter. H&H International Investment LLC now owns 3,907,600 shares of the company’s stock valued at $526,784,000 after acquiring an additional 3,804,600 shares during the period. Hedge funds and other institutional investors own 39.83% of the company’s stock.

About PDD

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.