Legal & General Group Plc Increases Stake in PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• Legal & General Group Plc increased its stake in PDD by 1.2% in Q3, adding 55,521 shares to hold 4,525,500 shares worth $598,134,000 (about 0.33% of the company).
• PDD opened at $104.86, trades in a 12‑month range of $87.11–$139.41, has a market cap of $145.98 billion and a P/E of 10.95, and carries a consensus analyst rating of Hold with an average target of $139.87.
• Hedge funds and institutional investors own 39.83% of PDD, and several smaller firms (Assetmark, Global Retirement Partners, Westside Investment Management, EMC Capital and Bank Julius Baer) reported recent increases or new small stakes.

Legal & General Group Plc grew its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 1.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,525,500 shares of the company's stock after acquiring an additional 55,521 shares during the period. Legal & General Group Plc owned 0.33% of PDD worth $598,134,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Assetmark Inc. increased its stake in shares of PDD by 314.4% in the 3rd quarter. Assetmark Inc. now owns 402 shares of the company's stock worth $53,000 after purchasing an additional 305 shares in the last quarter. Global Retirement Partners LLC lifted its position in PDD by 215.7% during the third quarter. Global Retirement Partners LLC now owns 442 shares of the company's stock valued at $58,000 after purchasing an additional 302 shares in the last quarter. Westside Investment Management Inc. grew its holdings in PDD by 79.9% during the third quarter. Westside Investment Management Inc. now owns 448 shares of the company's stock valued at $60,000 after purchasing an additional 199 shares during the period. EMC Capital Management bought a new stake in PDD during the second quarter valued at about $52,000. Finally, Bank Julius Baer & Co. Ltd Zurich purchased a new stake in PDD in the second quarter worth about $56,000. Hedge funds and other institutional investors own 39.83% of the company's stock.

PDD Stock Up 2.2%

NASDAQ PDD opened at $104.86 on Wednesday. PDD Holdings Inc. Sponsored ADR has a twelve month low of $87.11 and a twelve month high of $139.41. The business has a 50-day moving average price of $106.76 and a 200-day moving average price of $118.48. The firm has a market cap of $145.98 billion, a price-to-earnings ratio of 10.95, a price-to-earnings-growth ratio of 0.90 and a beta of -0.01.

Analyst Upgrades and Downgrades

PDD has been the topic of a number of analyst reports. Loop Capital set a $170.00 price objective on PDD in a research report on Tuesday, January 6th. Sanford C. Bernstein set a $135.00 target price on shares of PDD in a report on Tuesday, November 18th. Wall Street Zen downgraded shares of 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 shares of PDD in a research report on Thursday, January 15th. Finally, Arete Research set a $130.00 price objective on shares of PDD in a research note on Tuesday, December 9th. Four research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $139.87.

PDD Profile

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.

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