Nomura Asset Management Co. Ltd. Has $14.61 Million Position in PDD Holdings Inc. Sponsored ADR $PDD

Nomura Asset Management Co. Ltd. raised its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 4.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 128,886 shares of the company’s stock after buying an additional 6,033 shares during the period. 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 have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in PDD by 595.0% in the 4th quarter. GAMMA Investing LLC now owns 278 shares of the company’s stock valued at $32,000 after buying an additional 238 shares during the last quarter. Binnacle Investments Inc lifted its stake in PDD by 281.7% in the third quarter. Binnacle Investments Inc now owns 271 shares of the company’s stock valued at $36,000 after acquiring an additional 200 shares during the last quarter. Wexford Capital LP acquired a new stake in PDD in the third quarter valued at $44,000. Assetmark Inc. lifted its stake in PDD by 314.4% in the third quarter. Assetmark Inc. now owns 402 shares of the company’s stock valued at $53,000 after acquiring an additional 305 shares during the last quarter. Finally, Larson Financial Group LLC increased its stake in shares of PDD by 720.4% during the 3rd quarter. Larson Financial Group LLC now owns 402 shares of the company’s stock worth $53,000 after purchasing an additional 353 shares during the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PDD shares. Citigroup lowered their price objective on shares of PDD from $142.00 to $123.00 and set a “buy” rating on the stock in a research note on Wednesday, May 27th. Benchmark cut their target price on shares of PDD from $160.00 to $127.00 and set a “buy” rating for the company in a research note on Thursday, May 28th. The Goldman Sachs Group reiterated a “buy” rating on shares of PDD in a research note on Thursday, May 28th. Arete Research upgraded shares of PDD from a “neutral” rating to a “buy” rating and set a $121.00 target price for the company in a research note on Friday, April 17th. Finally, Nomura downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 28th. Seven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $131.33.

PDD Stock Performance

Shares of NASDAQ:PDD opened at $88.18 on Wednesday. PDD Holdings Inc. Sponsored ADR has a 52-week low of $81.56 and a 52-week high of $139.41. The company has a market capitalization of $125.52 billion, a P/E ratio of 9.52, a price-to-earnings-growth ratio of 0.82 and a beta of -0.02. The company has a 50-day simple moving average of $98.17 and a 200 day simple moving average of $105.82.

PDD (NASDAQ:PDD) last issued its earnings results on Friday, May 15th. The company reported $0.34 earnings per share (EPS) for the quarter. PDD had a net margin of 21.86% and a return on equity of 24.32%. The business had revenue of $15.41 million during the quarter. As a group, equities analysts forecast that PDD Holdings Inc. Sponsored ADR will post 10.98 earnings per share for the current year.

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.