PDD Holdings Inc. (NASDAQ:PDD) Shares Sold by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. lowered its stake in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 98.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 106,628 shares of the company's stock after selling 7,001,434 shares during the quarter. Nomura Asset Management Co. Ltd.'s holdings in PDD were worth $10,342,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Jones Financial Companies Lllp lifted its stake in shares of PDD by 8.7% during the 4th quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company's stock worth $118,000 after purchasing an additional 97 shares during the period. Farther Finance Advisors LLC increased its stake in shares of PDD by 30.9% during the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock valued at $54,000 after acquiring an additional 132 shares during the last quarter. New York Life Investment Management LLC lifted its holdings in shares of PDD by 5.8% during the 4th quarter. New York Life Investment Management LLC now owns 2,528 shares of the company's stock worth $245,000 after acquiring an additional 139 shares during the period. Cibc World Markets Corp boosted its position in shares of PDD by 1.1% in the fourth quarter. Cibc World Markets Corp now owns 14,799 shares of the company's stock worth $1,435,000 after acquiring an additional 164 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in PDD by 43.2% during the fourth quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company's stock worth $80,000 after purchasing an additional 249 shares during the last quarter. Institutional investors and hedge funds own 39.83% of the company's stock.

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Analyst Upgrades and Downgrades

PDD has been the topic of a number of research analyst reports. Nomura reiterated a "neutral" rating and issued a $130.00 price target (down previously from $137.00) on shares of PDD in a report on Thursday, March 20th. JPMorgan Chase & Co. boosted their price target on PDD from $105.00 to $125.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Benchmark restated a "buy" rating and issued a $160.00 price objective on shares of PDD in a report on Friday, March 21st. Jefferies Financial Group decreased their target price on PDD from $171.00 to $156.00 and set a "buy" rating for the company in a report on Thursday, March 20th. Finally, Nomura Securities cut shares of PDD from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 21st. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, PDD has an average rating of "Moderate Buy" and an average target price of $169.91.

PDD Stock Down 2.6 %

PDD traded down $3.12 during trading hours on Wednesday, reaching $119.07. 8,367,906 shares of the stock traded hands, compared to its average volume of 10,668,878. PDD Holdings Inc. has a fifty-two week low of $88.01 and a fifty-two week high of $164.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. The company has a market cap of $163.83 billion, a price-to-earnings ratio of 11.63, a PEG ratio of 0.32 and a beta of 0.69. The firm's fifty day simple moving average is $118.77 and its two-hundred day simple moving average is $114.81.

PDD Profile

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.