PDD Holdings Inc. Sponsored ADR $PDD Holdings Lowered by Nomura Holdings Inc.

Nomura Holdings Inc. trimmed its stake in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 69.1% in the 1st quarter, HoldingsChannel reports. The firm owned 103,909 shares of the company’s stock after selling 232,891 shares during the quarter. Nomura Holdings Inc.’s holdings in PDD were worth $12,298,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Hollencrest Capital Management purchased a new stake in PDD in the 1st quarter worth about $26,000. IFP Advisors Inc lifted its stake in PDD by 245.8% in the 1st quarter. IFP Advisors Inc now owns 408 shares of the company’s stock worth $48,000 after acquiring an additional 290 shares in the last quarter. Goldstream Capital Management Ltd purchased a new stake in PDD in the 1st quarter worth about $102,000. OneDigital Investment Advisors LLC purchased a new stake in PDD in the 1st quarter worth about $204,000. Finally, Gunderson Capital Management Inc. purchased a new stake in PDD in the 1st quarter worth about $218,000. 39.83% of the stock is owned by hedge funds and other institutional investors.

PDD Price Performance

Shares of PDD stock opened at $120.22 on Monday. PDD Holdings Inc. Sponsored ADR has a fifty-two week low of $87.11 and a fifty-two week high of $155.67. The stock’s 50-day moving average is $112.47 and its two-hundred day moving average is $111.23. The firm has a market cap of $167.36 billion, a P/E ratio of 13.04, a PEG ratio of 1.42 and a beta of 0.46.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Barclays increased their price objective on PDD from $158.00 to $165.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 26th. New Street Research downgraded PDD from a “buy” rating to a “neutral” rating and set a $120.00 price objective for the company. in a research note on Tuesday, August 26th. Bank of America increased their price objective on PDD from $120.00 to $141.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 26th. Citigroup reissued a “buy” rating on shares of PDD in a research note on Monday, August 25th. Finally, JPMorgan Chase & Co. dropped their target price on PDD from $125.00 to $105.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 28th. Five investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, PDD currently has a consensus rating of “Hold” and an average price target of $137.82.

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.