Baillie Gifford & Co. Sells 766,680 Shares of PDD Holdings Inc. Sponsored ADR $PDD

Key Points

• Baillie Gifford & Co. reduced its stake in PDD by 2.4%, selling 766,680 shares and now holding 31,032,323 shares (about $3.52 billion), making PDD its ninth-largest position at roughly 2.9% of the firm's portfolio.
• Analysts are mixed: the stock carries an average rating of "Hold" with an average price target of $140.27, despite varied recent notes such as Nomura's upgrade to Buy and Wall Street Zen's downgrade to Hold.
• PDD opened at $100.17, has a market cap of $139.45 billion and a P/E of 10.66, with a 52-week range of $87.97 to $139.41.

Baillie Gifford & Co. lessened its position in shares of PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD - Free Report) by 2.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,032,323 shares of the company's stock after selling 766,680 shares during the quarter. PDD makes up about 2.9% of Baillie Gifford & Co.'s investment portfolio, making the stock its 9th largest position. Baillie Gifford & Co. owned 2.23% of PDD worth $3,518,755,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Binnacle Investments Inc grew its holdings in shares of PDD by 281.7% during the 3rd quarter. Binnacle Investments Inc now owns 271 shares of the company's stock worth $36,000 after purchasing an additional 200 shares in the last quarter. GAMMA Investing LLC boosted its stake in PDD by 595.0% in the 4th quarter. GAMMA Investing LLC now owns 278 shares of the company's stock valued at $32,000 after buying an additional 238 shares in the last quarter. Wexford Capital LP acquired a new stake in PDD in the 3rd quarter valued at $44,000. Assetmark Inc. boosted its stake in PDD by 314.4% in the 3rd quarter. Assetmark Inc. now owns 402 shares of the company's stock valued at $53,000 after buying an additional 305 shares in the last quarter. Finally, Larson Financial Group LLC boosted its stake in PDD by 720.4% in the 3rd quarter. Larson Financial Group LLC now owns 402 shares of the company's stock valued at $53,000 after buying an additional 353 shares in the last quarter. Institutional investors and hedge funds own 39.83% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on PDD. Loop Capital set a $170.00 price target on PDD in a research note on Tuesday, January 6th. Citigroup reaffirmed a "neutral" rating on shares of PDD in a research note on Wednesday, January 28th. Wall Street Zen lowered PDD from a "buy" rating to a "hold" rating in a research note on Saturday, January 31st. Nomura raised PDD from a "neutral" rating to a "buy" rating and set a $136.00 price target on the stock in a research note on Friday, March 27th. Finally, Morgan Stanley set a $148.00 price objective on PDD in a research note on Thursday, January 15th. Five analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $140.27.

PDD Stock Performance

PDD stock opened at $100.17 on Monday. The firm has a market cap of $139.45 billion, a P/E ratio of 10.66, a P/E/G ratio of 0.94 and a beta of 0.07. The business's fifty day moving average is $102.07 and its two-hundred day moving average is $114.37. PDD Holdings Inc. Sponsored ADR has a 52 week low of $87.97 and a 52 week high of $139.41.

PDD Company Profile

PDD NASDAQ: PDD is the holding company best known for operating Pinduoduo, a China-based, mobile-first e-commerce platform that emphasizes interactive, social shopping and group-buying mechanics to drive user engagement and low prices. Founded in 2015 by entrepreneur Colin Huang, the business has grown by connecting consumers directly with merchants and manufacturers, with particular emphasis on value-oriented goods and fresh agricultural produce. The company is based in Shanghai and completed a U.S.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.