Daiwa Securities Group Inc. Purchases 1,045 Shares of PDD Holdings Inc. (NASDAQ:PDD)

Daiwa Securities Group Inc. increased its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 1.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 56,907 shares of the company’s stock after acquiring an additional 1,045 shares during the period. Daiwa Securities Group Inc.’s holdings in PDD were worth $5,519,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of PDD by 1,374.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,145,211 shares of the company’s stock valued at $1,772,106,000 after purchasing an additional 12,253,589 shares in the last quarter. H&H International Investment LLC boosted its stake in PDD by 3,693.8% during the third quarter. H&H International Investment LLC now owns 3,907,600 shares of the company’s stock valued at $526,784,000 after buying an additional 3,804,600 shares during the period. Baillie Gifford & Co. boosted its stake in PDD by 5.4% during the fourth quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company’s stock valued at $3,691,376,000 after buying an additional 1,942,891 shares during the period. FMR LLC grew its position in PDD by 8.6% during the third quarter. FMR LLC now owns 20,930,161 shares of the company’s stock worth $2,821,595,000 after buying an additional 1,654,764 shares in the last quarter. Finally, Capital Today Evergreen Fund L.P. raised its holdings in shares of PDD by 60.1% in the 4th quarter. Capital Today Evergreen Fund L.P. now owns 2,493,586 shares of the company’s stock valued at $241,853,000 after acquiring an additional 935,854 shares in the last quarter. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Jefferies Financial Group decreased their price objective on shares of PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. JPMorgan Chase & Co. cut shares of PDD from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $170.00 to $105.00 in a research report on Friday, November 22nd. Benchmark dropped their price objective on shares of PDD from $185.00 to $160.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Finally, Dbs Bank cut PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Three investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $173.40.

PDD Trading Down 0.1 %

Shares of PDD stock opened at $117.86 on Thursday. 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 business has a 50-day moving average of $111.92 and a 200 day moving average of $111.76. The stock has a market capitalization of $162.16 billion, a PE ratio of 11.51, a P/E/G ratio of 0.32 and a beta of 0.69. PDD Holdings Inc. has a 1-year low of $88.01 and a 1-year 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.