Russell Investments Group Ltd. Has $88 Million Stock Holdings in PDD Holdings Inc. (NASDAQ:PDD)

Russell Investments Group Ltd. cut its holdings in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 73.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 602,590 shares of the company's stock after selling 1,663,724 shares during the period. Russell Investments Group Ltd.'s holdings in PDD were worth $87,995,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PDD. SRS Capital Advisors Inc. increased its holdings in shares of PDD by 294.4% during the 3rd quarter. SRS Capital Advisors Inc. now owns 280 shares of the company's stock worth $27,000 after buying an additional 209 shares during the last quarter. Turim 21 Investimentos Ltda. acquired a new stake in shares of PDD during the 3rd quarter worth $55,000. CWM LLC increased its holdings in shares of PDD by 22.7% during the 3rd quarter. CWM LLC now owns 758 shares of the company's stock worth $74,000 after buying an additional 140 shares during the last quarter. Tennessee Valley Asset Management Partners acquired a new stake in shares of PDD during the 4th quarter worth $144,000. Finally, Shen Neil Nanpeng acquired a new stake in shares of PDD during the 3rd quarter worth $175,000. 29.07% of the stock is currently owned by institutional investors and hedge funds.

PDD Stock Up 2.8 %

NASDAQ:PDD traded up $3.52 on Friday, reaching $129.31. The stock had a trading volume of 11,547,606 shares, compared to its average volume of 6,706,696. The company has a current ratio of 1.93, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average of $121.75 and a 200 day moving average of $126.79. The stock has a market cap of $170.64 billion, a P/E ratio of 22.57, a price-to-earnings-growth ratio of 0.33 and a beta of 0.67. PDD Holdings Inc. has a 12-month low of $59.67 and a 12-month high of $152.99.

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

Analysts Set New Price Targets

PDD has been the subject of a number of research analyst reports. Jefferies Financial Group upped their price objective on PDD from $157.00 to $161.00 and gave the stock a "buy" rating in a report on Thursday, March 21st. Benchmark increased their price target on PDD from $215.00 to $220.00 and gave the company a "buy" rating in a report on Thursday, March 21st. Citigroup increased their price target on PDD from $170.00 to $185.00 and gave the company a "buy" rating in a 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 target for the company. in a report on Monday, March 11th. Finally, Barclays increased their price target on PDD from $164.00 to $178.00 and gave the company an "overweight" rating in a report on Thursday, March 21st. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $146.85.

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.