Baillie Gifford & Co. Boosts Position in PDD Holdings Inc. (NASDAQ:PDD)

Baillie Gifford & Co. grew its stake in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 5.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 38,059,343 shares of the company's stock after buying an additional 1,942,891 shares during the period. PDD accounts for approximately 2.8% of Baillie Gifford & Co.'s holdings, making the stock its 9th biggest holding. Baillie Gifford & Co. owned approximately 2.77% of PDD worth $3,691,376,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in PDD. CWM LLC raised its stake in shares of PDD by 19.3% in the 3rd quarter. CWM LLC now owns 1,046 shares of the company's stock valued at $141,000 after acquiring an additional 169 shares during the period. Blue Trust Inc. raised its stake in shares of PDD by 94.7% in the 3rd quarter. Blue Trust Inc. now owns 4,585 shares of the company's stock valued at $610,000 after acquiring an additional 2,230 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of PDD by 11.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 15,843 shares of the company's stock valued at $2,136,000 after acquiring an additional 1,623 shares during the period. Carrhae Capital LLP boosted its stake in shares of PDD by 296.1% in the third quarter. Carrhae Capital LLP now owns 447,960 shares of the company's stock valued at $60,389,000 after purchasing an additional 334,881 shares during the period. Finally, TB Alternative Assets Ltd. boosted its stake in shares of PDD by 33.7% in the third quarter. TB Alternative Assets Ltd. now owns 173,148 shares of the company's stock valued at $23,342,000 after purchasing an additional 43,648 shares during the period. 39.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

PDD Stock Performance

PDD traded down $4.89 during trading hours on Wednesday, hitting $123.57. 6,183,064 shares of the stock were exchanged, compared to its average volume of 8,320,055. The stock has a 50-day simple moving average of $105.72 and a 200-day simple moving average of $114.03. PDD Holdings Inc. has a 12 month low of $88.01 and a 12 month high of $164.69. The stock has a market cap of $170.01 billion, a price-to-earnings ratio of 12.08, a price-to-earnings-growth ratio of 0.32 and a beta of 0.67. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15.

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.