Nomura Asset Management Co. Ltd. Trims Stock Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Nomura Asset Management Co. Ltd. lowered its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD) by 98.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm 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 SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Norges Bank purchased a new position in shares of PDD during the fourth quarter worth approximately $812,246,000. NEOS Investment Management LLC increased its holdings in PDD by 20.3% during the 4th quarter. NEOS Investment Management LLC now owns 46,758 shares of the company’s stock worth $4,535,000 after purchasing an additional 7,892 shares during the period. BIT Capital GmbH raised its position in PDD by 85.5% during the 4th quarter. BIT Capital GmbH now owns 685,365 shares of the company’s stock valued at $66,474,000 after purchasing an additional 315,919 shares in the last quarter. Sava Infond d.o.o. bought a new position in shares of PDD during the 4th quarter worth $582,000. Finally, Brilliance Asset Management Ltd. increased its stake in shares of PDD by 316.0% during the fourth quarter. Brilliance Asset Management Ltd. now owns 646,212 shares of the company’s stock valued at $62,676,000 after buying an additional 490,860 shares during the period. Institutional investors own 39.83% of the company’s stock.

Analyst Ratings Changes

PDD has been the subject of a number of research reports. Benchmark reaffirmed a “buy” rating and issued a $160.00 price objective on shares of PDD in a research note on Friday, March 21st. Nomura reiterated a “neutral” rating and set a $130.00 price objective (down from $137.00) on shares of PDD in a research note on Thursday, March 20th. JPMorgan Chase & Co. boosted their price objective on shares of PDD from $105.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, March 21st. Jefferies Financial Group dropped their target price on PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a research report on Thursday, March 20th. Finally, Citigroup reiterated a “neutral” rating on shares of PDD in a report on Thursday, March 20th. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $169.91.

PDD Stock Performance

PDD opened at $120.45 on Monday. The company has a market cap of $165.72 billion, a P/E ratio of 11.76, a price-to-earnings-growth ratio of 0.32 and a beta of 0.69. 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 firm’s 50-day moving average price is $118.16 and its 200-day moving average price is $114.47. PDD Holdings Inc. has a 52-week low of $88.01 and a 52-week high of $164.69.

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.