Nomura Asset Management Co. Ltd. Purchases 2,781 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Nomura Asset Management Co. Ltd. lifted its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 2.5% during the 2nd quarter, HoldingsChannel reports. The firm owned 115,175 shares of the company’s stock after acquiring an additional 2,781 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in PDD were worth $12,054,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Westside Investment Management Inc. lifted its position in PDD by 398.0% during the second quarter. Westside Investment Management Inc. now owns 249 shares of the company’s stock valued at $26,000 after buying an additional 199 shares during the period. Ameritas Advisory Services LLC purchased a new stake in PDD in the second quarter worth about $28,000. IFP Advisors Inc increased its stake in shares of PDD by 245.8% during the first quarter. IFP Advisors Inc now owns 408 shares of the company’s stock valued at $48,000 after purchasing an additional 290 shares in the last quarter. Activest Wealth Management lifted its holdings in shares of PDD by 139.1% during the second quarter. Activest Wealth Management now owns 837 shares of the company’s stock valued at $88,000 after purchasing an additional 487 shares during the last quarter. Finally, Goldstream Capital Management Ltd bought a new stake in shares of PDD in the 1st quarter worth approximately $102,000. 39.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PDD has been the subject of a number of recent research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of PDD in a research note on Wednesday, October 8th. Zacks Research downgraded PDD from a “strong-buy” rating to a “hold” rating in a report on Monday, October 27th. Bank of America lowered their price target on PDD from $141.00 to $140.00 and set a “neutral” rating for the company in a research report on Wednesday. New Street Research downgraded shares of PDD from a “buy” rating to a “neutral” rating and set a $120.00 price objective on the stock. in a research report on Tuesday, August 26th. Finally, Jefferies Financial Group set a $146.00 price objective on shares of PDD and gave the company a “buy” rating in a research note on Monday, August 25th. Five research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, PDD currently has a consensus rating of “Hold” and a consensus price target of $137.50.

PDD Stock Performance

PDD stock opened at $118.02 on Thursday. The stock has a fifty day moving average of $131.62 and a 200 day moving average of $118.60. PDD Holdings Inc. Sponsored ADR has a one year low of $87.11 and a one year high of $139.41. The stock has a market cap of $164.30 billion, a PE ratio of 12.32, a price-to-earnings-growth ratio of 1.41 and a beta of 0.47.

PDD Company 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.