PDD (NASDAQ:PDD) Stock Rating Lowered by Nomura Securities

PDD (NASDAQ:PDD) was downgraded by equities researchers at Nomura Securities from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Friday,Zacks.com reports.

Several other research firms have also weighed in on PDD. Jefferies Financial Group reduced their price objective on PDD from $171.00 to $156.00 and set a “buy” rating for the company in a research note on Thursday. Benchmark reiterated a “buy” rating and issued a $160.00 price target on shares of PDD in a research report on Friday. Dbs Bank downgraded PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. upped their price objective on shares of PDD from $105.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Nomura reissued a “neutral” rating and issued a $130.00 target price (down from $137.00) on shares of PDD in a research report on Thursday. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus 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 12 month low of $88.01 and a 12 month high of $164.69. The company has a market capitalization of $174.24 billion, a P/E ratio of 12.37, a PEG ratio of 0.32 and a beta of 0.69. The company’s 50 day simple moving average is $115.75 and its 200 day simple moving average is $113.24. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15.

Institutional Trading of PDD

Several hedge funds and other institutional investors have recently modified their holdings of PDD. Baillie Gifford & Co. increased its position in PDD by 5.4% in the 4th quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company’s stock worth $3,691,376,000 after purchasing an additional 1,942,891 shares during the last quarter. Vanguard Group Inc. increased its holdings in PDD by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 28,662,609 shares of the company’s stock worth $2,779,986,000 after buying an additional 268,662 shares during the last quarter. FMR LLC increased its holdings in PDD by 22.3% in the fourth quarter. FMR LLC now owns 25,603,183 shares of the company’s stock worth $2,483,253,000 after buying an additional 4,673,022 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in PDD by 1,374.3% during 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 acquiring an additional 12,253,589 shares in the last quarter. Finally, Norges Bank acquired a new stake in PDD in the fourth quarter valued at approximately $812,246,000. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

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.