Russell Investments Group Ltd. Decreases Stake in PDD Holdings Inc. (NASDAQ:PDD)

Russell Investments Group Ltd. lessened its stake in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 22.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 691,520 shares of the company's stock after selling 203,231 shares during the period. Russell Investments Group Ltd. owned 0.05% of PDD worth $66,758,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC bought a new stake in PDD during the 4th quarter valued at $39,000. Brooklyn Investment Group increased its stake in shares of PDD by 340.3% during the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company's stock valued at $51,000 after buying an additional 405 shares during the period. Global Retirement Partners LLC raised its holdings in shares of PDD by 939.6% in the fourth quarter. Global Retirement Partners LLC now owns 551 shares of the company's stock valued at $53,000 after acquiring an additional 498 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in PDD by 30.9% in the fourth quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock worth $54,000 after acquiring an additional 132 shares during the period. Finally, EverSource Wealth Advisors LLC grew its holdings in PDD by 43.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company's stock worth $80,000 after acquiring an additional 249 shares in the last quarter. Institutional investors own 39.83% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on PDD. Nomura restated a "neutral" rating and issued a $130.00 price target (down previously from $137.00) on shares of PDD in a report on Thursday, March 20th. Citigroup reissued a "neutral" rating on shares of PDD in a research note on Thursday, March 20th. JPMorgan Chase & Co. increased their target price on PDD from $105.00 to $125.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Benchmark reiterated a "buy" rating and issued a $160.00 price target on shares of PDD in a report on Friday, March 21st. Finally, Jefferies Financial Group decreased their price objective on PDD from $171.00 to $156.00 and set a "buy" rating for the company in a research note on Thursday, March 20th. Five analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, PDD has an average rating of "Moderate Buy" and an average target price of $169.91.

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PDD Stock Up 2.4 %

PDD stock traded up $2.15 on Friday, hitting $90.50. 21,093,347 shares of the company's stock were exchanged, compared to its average volume of 11,188,670. The firm has a 50 day moving average price of $116.61 and a two-hundred day moving average price of $114.38. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. PDD Holdings Inc. has a 12-month low of $87.11 and a 12-month high of $164.69. The stock has a market cap of $124.52 billion, a P/E ratio of 8.84, a price-to-earnings-growth ratio of 0.32 and a beta of 0.73.

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.