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

Baillie Gifford & Co. grew its holdings in shares of PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 2.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 36,116,452 shares of the company's stock after acquiring an additional 988,042 shares during the quarter. PDD comprises approximately 3.6% of Baillie Gifford & Co.'s holdings, making the stock its 6th largest position. Baillie Gifford & Co. owned approximately 2.62% of PDD worth $4,868,859,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Venturi Wealth Management LLC bought a new stake in shares of PDD in the 3rd quarter worth approximately $29,000. Ashton Thomas Private Wealth LLC purchased a new stake in PDD during the second quarter valued at about $32,000. Richardson Financial Services Inc. increased its position in shares of PDD by 3,883.3% in the second quarter. Richardson Financial Services Inc. now owns 239 shares of the company's stock worth $32,000 after acquiring an additional 233 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new stake in shares of PDD during the third quarter valued at approximately $34,000. Finally, Strategic Financial Concepts LLC purchased a new stake in shares of PDD in the 2nd quarter valued at approximately $40,000. Institutional investors own 29.07% of the company's stock.

PDD Trading Down 3.6 %

Shares of PDD stock traded down $4.26 during trading hours on Tuesday, hitting $112.89. 5,870,006 shares of the company's stock traded hands, compared to its average volume of 10,606,779. The stock has a market cap of $155.32 billion, a PE ratio of 12.62, a price-to-earnings-growth ratio of 0.28 and a beta of 0.71. The stock's 50 day simple moving average is $120.05 and its 200 day simple moving average is $130.98. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.02. PDD Holdings Inc. has a 12 month low of $88.01 and a 12 month high of $164.69.

PDD (NASDAQ:PDD - Get Free Report) last released its earnings results on Monday, August 26th. The company reported $23.24 EPS for the quarter, topping the consensus estimate of $2.66 by $20.58. The business had revenue of $97.06 billion during the quarter, compared to analysts' expectations of $100.17 billion. PDD had a return on equity of 48.14% and a net margin of 28.92%. The firm's revenue was up 85.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.27 earnings per share. On average, sell-side analysts anticipate that PDD Holdings Inc. will post 11.19 EPS for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on PDD shares. Citigroup lowered PDD from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $194.00 to $120.00 in a research report on Tuesday, August 27th. Sanford C. Bernstein reduced their target price on shares of PDD from $235.00 to $170.00 and set an "outperform" rating for the company in a research note on Tuesday, August 27th. Jefferies Financial Group dropped their price target on shares of PDD from $193.00 to $151.00 and set a "buy" rating on the stock in a research note on Monday, August 26th. Bank of America decreased their price objective on shares of PDD from $206.00 to $170.00 and set a "buy" rating for the company in a report on Tuesday, August 27th. Finally, Nomura Securities upgraded PDD to a "strong-buy" rating in a report on Tuesday, August 27th. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, PDD has a consensus rating of "Buy" and an average target price of $182.40.

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.