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

PDD (NASDAQ:PDD) was downgraded by stock analysts at Nomura Securities from a “strong-buy” rating to a “hold” rating in a report issued on Friday,Zacks.com reports.

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

PDD Stock Down 3.3 %

PDD opened at $126.64 on Friday. PDD has a twelve month low of $88.01 and a twelve month high of $164.69. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. The business has a 50 day moving average price of $115.75 and a 200 day moving average price of $113.24. The firm has a market cap 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.

Institutional Trading of PDD

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