PDD Holdings Inc. (NASDAQ:PDD) Shares Purchased by Baillie Gifford & Co.

Baillie Gifford & Co. lifted its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 2.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 36,116,452 shares of the company’s stock after acquiring an additional 988,042 shares during the period. PDD makes up approximately 3.6% of Baillie Gifford & Co.’s investment portfolio, making the stock its 6th largest position. Baillie Gifford & Co.’s holdings in PDD were worth $4,868,859,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Acadian Asset Management LLC increased its position in PDD by 107.8% during the second quarter. Acadian Asset Management LLC now owns 3,670,799 shares of the company’s stock worth $487,984,000 after buying an additional 1,904,155 shares in the last quarter. Tairen Capital Ltd increased its position in PDD by 49.8% during the 2nd quarter. Tairen Capital Ltd now owns 5,378,376 shares of the company’s stock worth $715,055,000 after purchasing an additional 1,788,076 shares in the last quarter. Hhlr Advisors LTD. raised its stake in shares of PDD by 16.6% in the 1st quarter. Hhlr Advisors LTD. now owns 11,791,547 shares of the company’s stock valued at $1,370,767,000 after acquiring an additional 1,680,600 shares during the period. Dragoneer Investment Group LLC grew its stake in shares of PDD by 142.6% in the second quarter. Dragoneer Investment Group LLC now owns 2,620,838 shares of the company’s stock valued at $348,440,000 after buying an additional 1,540,346 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of PDD during the second quarter valued at approximately $176,332,000. 29.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PDD has been the subject of several research analyst reports. Barclays lowered their price objective on PDD from $224.00 to $158.00 and set an “overweight” rating for the company in a report on Tuesday, August 27th. Jefferies Financial Group lowered their target price on PDD from $193.00 to $151.00 and set a “buy” rating on the stock in a research report on Monday, August 26th. Sanford C. Bernstein reduced their price objective on shares of PDD from $235.00 to $170.00 and set an “outperform” rating for the company in a report on Tuesday, August 27th. Bank of America dropped their target price on PDD from $206.00 to $170.00 and set a “buy” rating on the stock in a report on Tuesday, August 27th. Finally, Benchmark decreased their target price on shares of PDD from $230.00 to $185.00 and set a “buy” rating for the company in a report on Tuesday, August 27th. One analyst has rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $182.40.

PDD Stock Down 0.6 %

Shares of PDD stock opened at $117.15 on Tuesday. PDD Holdings Inc. has a 52-week low of $88.01 and a 52-week high of $164.69. The stock has a market cap of $161.18 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 0.28 and a beta of 0.71. The firm’s 50-day moving average is $120.05 and its 200-day moving average is $130.98. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.11 and a current ratio of 2.11.

PDD (NASDAQ:PDD) last released its quarterly earnings data on Monday, August 26th. The company reported $23.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.66 by $20.58. The firm had revenue of $97.06 billion for the quarter, compared to analyst estimates of $100.17 billion. PDD had a return on equity of 48.14% and a net margin of 28.92%. The business’s revenue for the quarter was up 85.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.27 earnings per share. Sell-side analysts predict that PDD Holdings Inc. will post 11.19 EPS for the current year.

PDD 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.