PDD (NASDAQ:PDD) Upgraded at Nomura

Nomura upgraded shares of PDD (NASDAQ:PDD) from a neutral rating to a buy rating in a research report sent to investors on Friday morning, MarketBeat Ratings reports. Nomura currently has $136.00 price objective on the stock.

Several other equities research analysts also recently weighed in on PDD. Citigroup reaffirmed a “neutral” rating on shares of PDD in a research report on Wednesday, January 28th. Wall Street Zen downgraded PDD from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Morgan Stanley set a $148.00 price target on PDD in a research report on Thursday, January 15th. Arete Research set a $130.00 price objective on shares of PDD in a research report on Tuesday, December 9th. Finally, Loop Capital set a $170.00 price objective on shares of PDD in a research note on Tuesday, January 6th. Five research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $140.27.

PDD Stock Performance

Shares of PDD stock opened at $99.81 on Friday. PDD has a twelve month low of $87.11 and a twelve month high of $139.41. The stock has a market cap of $138.95 billion, a price-to-earnings ratio of 10.62, a price-to-earnings-growth ratio of 0.88 and a beta of -0.01. The company has a fifty day moving average price of $102.89 and a 200 day moving average price of $116.37.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. TB Alternative Assets Ltd. grew its position in shares of PDD by 62.5% during the third quarter. TB Alternative Assets Ltd. now owns 345,888 shares of the company’s stock worth $45,716,000 after buying an additional 133,000 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its holdings in PDD by 17.3% in the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 368,564 shares of the company’s stock valued at $48,694,000 after acquiring an additional 54,418 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in PDD during the 3rd quarter valued at $2,790,000. Nomura Holdings Inc. boosted its stake in PDD by 67.1% during the 2nd quarter. Nomura Holdings Inc. now owns 173,637 shares of the company’s stock valued at $18,173,000 after acquiring an additional 69,728 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in PDD by 4.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,719,535 shares of the company’s stock worth $227,271,000 after acquiring an additional 74,225 shares in the last quarter. Institutional investors and hedge funds own 39.83% of the company’s stock.

About PDD

PDD (NASDAQ: PDD) is the holding company best known for operating Pinduoduo, a China-based, mobile-first e-commerce platform that emphasizes interactive, social shopping and group-buying mechanics to drive user engagement and low prices. Founded in 2015 by entrepreneur Colin Huang, the business has grown by connecting consumers directly with merchants and manufacturers, with particular emphasis on value-oriented goods and fresh agricultural produce. The company is based in Shanghai and completed a U.S.