Baillie Gifford & Co. Has $3.69 Billion Stake in PDD Holdings Inc. (NASDAQ:PDD)

Baillie Gifford & Co. lifted its position in shares of PDD Holdings Inc. (NASDAQ:PDD) by 5.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 38,059,343 shares of the company’s stock after acquiring an additional 1,942,891 shares during the quarter. PDD makes up about 2.8% of Baillie Gifford & Co.’s investment portfolio, making the stock its 9th largest position. Baillie Gifford & Co.’s holdings in PDD were worth $3,691,376,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Prospera Private Wealth LLC acquired a new stake in shares of PDD during the third quarter worth $27,000. Venturi Wealth Management LLC acquired a new stake in shares of PDD during the third quarter worth $29,000. Nisa Investment Advisors LLC acquired a new stake in shares of PDD during the fourth quarter worth $39,000. Brooklyn Investment Group grew 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 worth $51,000 after purchasing an additional 405 shares during the period. Finally, Carolina Wealth Advisors LLC acquired a new stake in shares of PDD during the third quarter worth $66,000. Institutional investors own 39.83% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PDD shares. JPMorgan Chase & Co. cut PDD from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $170.00 to $105.00 in a research note on Friday, November 22nd. Jefferies Financial Group decreased their target price on PDD from $181.00 to $171.00 and set a “buy” rating for the company in a research note on Thursday, November 21st. Dbs Bank cut PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Finally, Benchmark decreased their target price on PDD from $185.00 to $160.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $173.40.

PDD Stock Up 2.2 %

PDD stock opened at $124.16 on Monday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. The stock has a market capitalization of $170.83 billion, a P/E ratio of 12.13, a P/E/G ratio of 0.29 and a beta of 0.67. The business has a 50-day moving average of $104.97 and a 200-day moving average of $114.15. PDD Holdings Inc. has a fifty-two week low of $88.01 and a fifty-two week high of $164.69.

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.