PDD (NASDAQ:PDD) Downgraded by Nomura Securities to Hold

Nomura Securities cut shares of PDD (NASDAQ:PDD) from a strong-buy rating to a hold rating in a research note issued to investors on Friday morning,Zacks.com reports.

A number of other research firms have also issued reports on PDD. Jefferies Financial Group dropped their price objective on shares of PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a research note on Thursday. Dbs Bank downgraded PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Nomura reiterated a “neutral” rating and set a $130.00 price objective (down previously from $137.00) on shares of PDD in a research note on Thursday. JPMorgan Chase & Co. raised their target price on PDD from $105.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Benchmark reissued a “buy” rating and issued a $160.00 price target on shares of PDD in a research note on Friday. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, PDD presently has an average rating of “Moderate Buy” and an average price target of $169.91.

PDD Stock Performance

NASDAQ:PDD opened at $126.64 on Friday. The firm’s 50 day moving average is $115.75 and its two-hundred day moving average is $113.13. PDD has a fifty-two week low of $88.01 and a fifty-two week high of $164.69. 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 company has a market cap of $174.24 billion, a P/E ratio of 12.37, a P/E/G ratio of 0.32 and a beta of 0.69.

Institutional Trading of PDD

Several hedge funds have recently modified their holdings of PDD. Fairtree Asset Management Pty Ltd acquired a new stake in PDD during the 4th quarter worth $5,531,000. California State Teachers Retirement System boosted its position in shares of PDD by 7.1% during the fourth quarter. California State Teachers Retirement System now owns 324,354 shares of the company’s stock worth $31,459,000 after buying an additional 21,507 shares during the period. 111 Capital bought a new stake in shares of PDD in the fourth quarter worth $508,000. Wealthedge Investment Advisors LLC acquired a new position in shares of PDD during the 4th quarter worth about $666,000. Finally, Siemens Fonds Invest GmbH acquired a new position in PDD during the fourth quarter valued at approximately $192,000. 39.83% of the stock is owned by institutional investors.

About PDD

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.