PDD Holdings Inc. Sponsored ADR $PDD Stake Reduced by Nomura Holdings Inc.

Key Points

• Nomura Holdings Inc. has reduced its stake in PDD Holdings Inc. by 69.1%, selling 232,891 shares and holding 103,909 shares as of the latest SEC filing.
• Other institutional investors have significantly increased their positions in PDD, with Krane Funds Advisors boosting their holdings by 78.3% and OVERSEA CHINESE BANKING Corp Ltd increasing theirs by 4,562.1%.
• PDD stock has experienced fluctuations, with a 1-year low of $87.11 and a high of $155.67, and currently has a market cap of $167.36 billion.

Nomura Holdings Inc. lessened its holdings in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 69.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 103,909 shares of the company's stock after selling 232,891 shares during the quarter. Nomura Holdings Inc.'s holdings in PDD were worth $12,298,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Krane Funds Advisors LLC boosted its position in PDD by 78.3% during the 1st quarter. Krane Funds Advisors LLC now owns 5,036,389 shares of the company's stock worth $596,057,000 after acquiring an additional 2,211,286 shares during the period. Myriad Asset Management US LP acquired a new position in PDD during the 1st quarter worth $4,496,000. OVERSEA CHINESE BANKING Corp Ltd boosted its position in PDD by 4,562.1% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 14,419,327 shares of the company's stock worth $1,706,527,000 after acquiring an additional 14,110,042 shares during the period. WCM Investment Management LLC boosted its position in PDD by 3,127.3% during the 1st quarter. WCM Investment Management LLC now owns 411,324 shares of the company's stock worth $49,544,000 after acquiring an additional 398,579 shares during the period. Finally, Banco BTG Pactual S.A. acquired a new position in PDD during the 1st quarter worth $537,000. Institutional investors and hedge funds own 39.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PDD shares. JPMorgan Chase & Co. reduced their price target on PDD from $125.00 to $105.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. Benchmark restated a "buy" rating and issued a $160.00 price objective (up previously from $128.00) on shares of PDD in a report on Tuesday, August 26th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $112.00 price objective on shares of PDD in a report on Wednesday, May 28th. Macquarie set a $165.00 price objective on PDD and gave the company an "outperform" rating in a report on Monday, August 25th. Finally, New Street Research lowered PDD from a "buy" rating to a "neutral" rating and set a $120.00 price objective for the company. in a report on Tuesday, August 26th. Five analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $137.82.

PDD Stock Performance

PDD stock opened at $120.22 on Monday. PDD Holdings Inc. Sponsored ADR has a 1 year low of $87.11 and a 1 year high of $155.67. The firm has a market cap of $167.36 billion, a price-to-earnings ratio of 13.04, a price-to-earnings-growth ratio of 1.42 and a beta of 0.46. The firm's 50 day moving average price is $112.47 and its two-hundred day moving average price is $111.23.

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.

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