PDD Holdings Inc. (NASDAQ:PDD) Stock Position Lifted by Nomura Holdings Inc.

Nomura Holdings Inc. grew its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 41.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 680,792 shares of the company's stock after purchasing an additional 199,336 shares during the period. PDD makes up approximately 0.3% of Nomura Holdings Inc.'s investment portfolio, making the stock its 27th largest holding. Nomura Holdings Inc. owned 0.05% of PDD worth $99,607,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Unigestion Holding SA increased its holdings in shares of PDD by 1,145.0% in the fourth quarter. Unigestion Holding SA now owns 26,207 shares of the company's stock valued at $3,834,000 after buying an additional 24,102 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of PDD by 104.0% during the fourth quarter. Sei Investments Co. now owns 265,696 shares of the company's stock valued at $38,874,000 after purchasing an additional 135,453 shares during the last quarter. Connectus Wealth LLC boosted its position in shares of PDD by 9.4% in the 4th quarter. Connectus Wealth LLC now owns 6,852 shares of the company's stock valued at $1,003,000 after purchasing an additional 590 shares during the period. Natixis Investment Managers International purchased a new position in PDD in the 4th quarter worth about $2,056,000. Finally, Quadrature Capital Ltd acquired a new stake in PDD during the 4th quarter worth about $20,991,000. 29.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. UBS Group raised their target price on shares of PDD from $248.00 to $272.00 and gave the stock a "buy" rating in a report on Wednesday. Barclays raised their target price on PDD from $164.00 to $178.00 and gave the stock an "overweight" rating in a research report on Thursday, March 21st. The Goldman Sachs Group downgraded PDD from a "buy" rating to a "neutral" rating and set a $136.00 price objective for the company. in a research note on Monday, March 11th. Benchmark lifted their target price on PDD from $215.00 to $220.00 and gave the company a "buy" rating in a research note on Thursday, March 21st. Finally, Jefferies Financial Group boosted their price objective on shares of PDD from $157.00 to $161.00 and gave the company a "buy" rating in a research report on Thursday, March 21st. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $157.23.

PDD Stock Up 1.1 %

Shares of NASDAQ PDD traded up $1.64 during mid-day trading on Wednesday, reaching $147.09. 29,532,828 shares of the company traded hands, compared to its average volume of 8,761,060. The company's fifty day moving average is $126.55 and its two-hundred day moving average is $130.71. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.93 and a current ratio of 1.93. PDD Holdings Inc. has a fifty-two week low of $59.98 and a fifty-two week high of $156.50. The stock has a market cap of $202.38 billion, a PE ratio of 25.67, a price-to-earnings-growth ratio of 0.38 and a beta of 0.67.

PDD (NASDAQ:PDD - Get Free Report) last announced its quarterly earnings results on Wednesday, March 20th. The company reported $2.23 EPS for the quarter, beating the consensus estimate of $1.42 by $0.81. PDD had a return on equity of 39.10% and a net margin of 24.23%. The company had revenue of $12.52 billion for the quarter, compared to the consensus estimate of $11.80 billion. On average, analysts expect that PDD Holdings Inc. will post 7.85 earnings per share for the current year.

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.

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