Baillie Gifford & Co. Purchases 1,987,935 Shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD)

Key Points

• Baillie Gifford & Co. increased its stake in PDD Holdings Inc. by purchasing 1,987,935 shares, raising its total holdings to approximately 40 million shares, which constitutes 4.1% of its investment portfolio.
• Analysts have provided mixed ratings on PDD, with Citi upgrading the stock to a "buy" and raising the price target to $165.00, while JPMorgan lowered its target to $105.00.
• PDD's latest quarterly earnings showed $1.37 earnings per share, missing estimates, with a revenue of $13.19 billion, reflecting a year-over-year increase of 10.2%.

Baillie Gifford & Co. raised its position in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 5.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,047,278 shares of the company's stock after purchasing an additional 1,987,935 shares during the quarter. PDD comprises approximately 4.1% of Baillie Gifford & Co.'s investment portfolio, making the stock its 7th biggest holding. Baillie Gifford & Co. owned 2.91% of PDD worth $4,739,595,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Avantax Advisory Services Inc. bought a new position in shares of PDD in the first quarter valued at approximately $225,000. ANTIPODES PARTNERS Ltd boosted its holdings in PDD by 1.0% during the first quarter. ANTIPODES PARTNERS Ltd now owns 136,748 shares of the company's stock worth $16,185,000 after buying an additional 1,369 shares in the last quarter. AE Wealth Management LLC boosted its holdings in PDD by 3.8% during the first quarter. AE Wealth Management LLC now owns 6,209 shares of the company's stock worth $735,000 after buying an additional 229 shares in the last quarter. Advisors Preferred LLC boosted its holdings in PDD by 757.3% during the first quarter. Advisors Preferred LLC now owns 2,169 shares of the company's stock worth $265,000 after buying an additional 1,916 shares in the last quarter. Finally, KLP Kapitalforvaltning AS boosted its holdings in PDD by 1.2% during the first quarter. KLP Kapitalforvaltning AS now owns 157,200 shares of the company's stock worth $18,605,000 after buying an additional 1,800 shares in the last quarter. Institutional investors and hedge funds own 39.83% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on PDD. JPMorgan Chase & Co. reduced their price target on shares of PDD from $125.00 to $105.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. Citigroup upgraded shares of PDD from a "neutral" rating to a "buy" rating and increased their target price for the stock from $127.00 to $165.00 in a research report on Monday, May 12th. Barclays downgraded shares of PDD from a "strong-buy" rating to a "hold" rating in a research report on Sunday, June 1st. Macquarie reiterated an "outperform" rating on shares of PDD in a research report on Tuesday, May 27th. Finally, Benchmark cut their target price on shares of PDD from $160.00 to $128.00 and set a "buy" rating for the company in a research report on Wednesday, May 28th. Seven analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $144.55.

PDD Stock Performance

Shares of PDD stock opened at $118.21 on Friday. The firm has a market cap of $164.57 billion, a P/E ratio of 12.72, a price-to-earnings-growth ratio of 1.66 and a beta of 0.42. PDD Holdings Inc. Sponsored ADR has a twelve month low of $87.11 and a twelve month high of $155.67. The firm's 50-day simple moving average is $106.15 and its 200-day simple moving average is $109.43.

PDD (NASDAQ:PDD - Get Free Report) last posted its quarterly earnings results on Tuesday, May 27th. The company reported $1.37 earnings per share for the quarter, missing analysts' consensus estimates of $2.25 by ($0.88). The business had revenue of $13.19 billion for the quarter, compared to the consensus estimate of $103.37 billion. PDD had a return on equity of 33.76% and a net margin of 24.63%. The company's quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the firm earned $20.72 earnings per share. On average, equities analysts forecast that PDD Holdings Inc. Sponsored ADR will post 10.24 earnings per share for the current fiscal year.

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.

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