SBI Securities Co. Ltd. Buys New Position in PDD Holdings Inc. (NASDAQ:PDD)

SBI Securities Co. Ltd. bought a new stake in shares of PDD Holdings Inc. (NASDAQ:PDD) in the 4th quarter, Holdings Channel.com reports. The firm bought 4,694 shares of the company’s stock, valued at approximately $455,000.

Several other large investors also recently added to or reduced their stakes in the business. Jones Financial Companies Lllp grew its position in PDD by 8.7% during the fourth quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company’s stock valued at $118,000 after buying an additional 97 shares during the period. US Bancorp DE lifted its holdings in PDD by 14.2% during the fourth quarter. US Bancorp DE now owns 9,079 shares of the company’s stock valued at $881,000 after purchasing an additional 1,127 shares in the last quarter. SVB Wealth LLC purchased a new position in PDD during the fourth quarter valued at approximately $421,000. Central Asset Investments & Management Holdings HK Ltd purchased a new position in PDD during the fourth quarter valued at approximately $339,000. Finally, New York Life Investment Management LLC lifted its holdings in PDD by 5.8% during the fourth quarter. New York Life Investment Management LLC now owns 2,528 shares of the company’s stock valued at $245,000 after purchasing an additional 139 shares in the last quarter. 39.83% of the stock is currently owned by institutional investors.

PDD Price Performance

Shares of NASDAQ:PDD opened at $113.41 on Wednesday. PDD Holdings Inc. has a fifty-two week low of $88.01 and a fifty-two week high of $164.69. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. The firm has a fifty day moving average price of $109.38 and a 200 day moving average price of $112.66. The firm has a market cap of $156.04 billion, a price-to-earnings ratio of 11.08, a P/E/G ratio of 0.32 and a beta of 0.69.

Analyst Ratings Changes

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

About PDD

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.