Nomura Asset Management Co. Ltd. lifted its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD – Free Report) by 4.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 128,886 shares of the company’s stock after purchasing an additional 6,033 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in PDD were worth $14,614,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Exchange Traded Concepts LLC boosted its position in shares of PDD by 11.7% during the fourth quarter. Exchange Traded Concepts LLC now owns 242,722 shares of the company’s stock worth $27,522,000 after purchasing an additional 25,369 shares in the last quarter. Step Capital Management Pte. Ltd. bought a new position in shares of PDD during the fourth quarter worth $8,504,000. LBP AM SA bought a new position in shares of PDD during the fourth quarter worth $6,690,000. Triata Capital Ltd boosted its position in shares of PDD by 55.7% during the third quarter. Triata Capital Ltd now owns 2,544,478 shares of the company’s stock worth $336,304,000 after purchasing an additional 910,150 shares in the last quarter. Finally, Aspex Management HK Ltd bought a new position in shares of PDD during the third quarter worth $419,287,000. 39.83% of the stock is owned by institutional investors.
PDD Stock Up 1.1%
Shares of NASDAQ:PDD opened at $88.18 on Wednesday. PDD Holdings Inc. Sponsored ADR has a 12 month low of $81.56 and a 12 month high of $139.41. The company’s fifty day simple moving average is $98.17 and its 200 day simple moving average is $105.82. The firm has a market cap of $125.52 billion, a price-to-earnings ratio of 9.52, a PEG ratio of 0.82 and a beta of -0.02.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on PDD shares. Benchmark reduced their price target on shares of PDD from $160.00 to $127.00 and set a “buy” rating on the stock in a research report on Thursday, May 28th. Citigroup dropped their price objective on shares of PDD from $142.00 to $123.00 and set a “buy” rating on the stock in a report on Wednesday, May 27th. Arete Research upgraded shares of PDD from a “neutral” rating to a “buy” rating and set a $121.00 price objective on the stock in a report on Friday, April 17th. The Goldman Sachs Group restated a “buy” rating on shares of PDD in a report on Thursday, May 28th. Finally, Jefferies Financial Group restated a “buy” rating on shares of PDD in a report on Wednesday, May 27th. Seven equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $131.33.
View Our Latest Research Report on PDD
PDD Profile
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.
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