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

Daiwa Securities Group Inc. lifted its stake in shares of PDD Holdings Inc. (NASDAQ:PDD) by 1.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 56,907 shares of the company’s stock after buying an additional 1,045 shares during the quarter. Daiwa Securities Group Inc.’s holdings in PDD were worth $5,519,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in PDD by 1,374.3% in the third 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 acquiring an additional 12,253,589 shares during the period. H&H International Investment LLC lifted its holdings in shares of PDD by 3,693.8% in the 3rd quarter. H&H International Investment LLC now owns 3,907,600 shares of the company’s stock worth $526,784,000 after purchasing an additional 3,804,600 shares in the last quarter. Baillie Gifford & Co. grew its position in PDD by 5.4% in the 4th quarter. Baillie Gifford & Co. now owns 38,059,343 shares of the company’s stock valued at $3,691,376,000 after purchasing an additional 1,942,891 shares during the period. FMR LLC increased its stake in PDD by 8.6% during the 3rd quarter. FMR LLC now owns 20,930,161 shares of the company’s stock valued at $2,821,595,000 after purchasing an additional 1,654,764 shares in the last quarter. Finally, Capital Today Evergreen Fund L.P. increased its stake in PDD by 60.1% during 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 purchasing an additional 935,854 shares in the last quarter. Institutional investors own 39.83% of the company’s stock.

PDD Trading Down 0.1 %

Shares of PDD stock opened at $117.86 on Thursday. The stock has a market capitalization of $162.16 billion, a price-to-earnings ratio of 11.51, a PEG ratio of 0.32 and a beta of 0.69. The company’s fifty day simple moving average is $111.92 and its two-hundred day simple moving average is $111.76. PDD Holdings Inc. has a 1 year low of $88.01 and a 1 year high of $164.69. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. downgraded PDD from an “overweight” rating to a “neutral” rating and cut their price target for the company from $170.00 to $105.00 in a research note on Friday, November 22nd. Benchmark cut their target price on PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. Jefferies Financial Group lowered their price target on PDD from $181.00 to $171.00 and set a “buy” rating for the company in a research report on Thursday, November 21st. Finally, Dbs Bank downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $173.40.

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.