PDD (NASDAQ:PDD) Downgraded to “Hold” Rating by Nomura Securities

Nomura Securities downgraded shares of PDD (NASDAQ:PDD) from a strong-buy rating to a hold rating in a research report released on Friday morning,Zacks.com reports.

PDD has been the subject of several other reports. Benchmark reiterated a “buy” rating and set a $160.00 target price on shares of PDD in a report on Friday. Dbs Bank downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. upped their price target on shares of PDD from $105.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday. Jefferies Financial Group decreased their price target on shares of PDD from $171.00 to $156.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, Nomura reaffirmed a “neutral” rating and issued a $130.00 target price (down from $137.00) on shares of PDD in a report on Thursday. Five analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $169.91.

PDD Trading Down 3.3 %

Shares of PDD opened at $126.64 on Friday. The stock has a market capitalization of $174.24 billion, a P/E ratio of 12.37, a PEG ratio of 0.32 and a beta of 0.69. The firm has a fifty day simple moving average of $115.75 and a two-hundred day simple moving average of $113.13. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. PDD has a twelve month low of $88.01 and a twelve month high of $164.69.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Prospera Financial Services Inc lifted its position in shares of PDD by 27.1% during the 3rd quarter. Prospera Financial Services Inc now owns 4,842 shares of the company’s stock valued at $653,000 after buying an additional 1,033 shares in the last quarter. Avior Wealth Management LLC boosted its holdings in PDD by 50.9% in the 3rd quarter. Avior Wealth Management LLC now owns 501 shares of the company’s stock valued at $68,000 after purchasing an additional 169 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in PDD in the third quarter worth approximately $27,000. Advisors Asset Management Inc. increased its position in shares of PDD by 39.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 4,148 shares of the company’s stock worth $559,000 after purchasing an additional 1,184 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of PDD by 63.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 669,605 shares of the company’s stock valued at $90,269,000 after acquiring an additional 259,937 shares during the period. Hedge funds and other institutional investors own 39.83% of the company’s stock.

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.