Russell Investments Group Ltd. Has $108.73 Million Holdings in PDD Holdings Inc. Sponsored ADR $PDD

Russell Investments Group Ltd. raised its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 24.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 825,884 shares of the company’s stock after buying an additional 160,139 shares during the quarter. Russell Investments Group Ltd.’s holdings in PDD were worth $108,728,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. EMC Capital Management purchased a new position in shares of PDD in the second quarter worth approximately $52,000. Assetmark Inc. lifted its position in shares of PDD by 314.4% in the 3rd quarter. Assetmark Inc. now owns 402 shares of the company’s stock valued at $53,000 after acquiring an additional 305 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in PDD in the 2nd quarter worth approximately $56,000. Global Retirement Partners LLC boosted its stake in PDD by 215.7% in the 3rd quarter. Global Retirement Partners LLC now owns 442 shares of the company’s stock worth $58,000 after purchasing an additional 302 shares during the period. Finally, Westside Investment Management Inc. grew its position in PDD by 79.9% during the 3rd quarter. Westside Investment Management Inc. now owns 448 shares of the company’s stock worth $60,000 after purchasing an additional 199 shares in the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PDD has been the subject of a number of research analyst reports. Morgan Stanley set a $148.00 target price on PDD in a report on Thursday, January 15th. Arete Research set a $130.00 price objective on PDD in a research note on Tuesday, December 9th. Citigroup reaffirmed a “neutral” rating on shares of PDD in a research note on Wednesday, January 28th. Loop Capital set a $170.00 price target on shares of PDD in a research report on Tuesday, January 6th. Finally, Wall Street Zen downgraded shares of PDD from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Four analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $139.87.

PDD Trading Up 0.7%

Shares of NASDAQ:PDD opened at $102.64 on Tuesday. The stock has a market capitalization of $142.89 billion, a PE ratio of 10.71, a P/E/G ratio of 0.90 and a beta of -0.01. PDD Holdings Inc. Sponsored ADR has a 1 year low of $87.11 and a 1 year high of $139.41. The firm has a fifty day moving average price of $106.94 and a 200 day moving average price of $118.64.

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.