Baillie Gifford & Co. Has $5.55 Billion Stock Position in PDD Holdings Inc. (NASDAQ:PDD)

Baillie Gifford & Co. increased its holdings in PDD Holdings Inc. (NASDAQ:PDD - Free Report) by 6.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,960,238 shares of the company's stock after buying an additional 2,292,068 shares during the quarter. PDD comprises 4.4% of Baillie Gifford & Co.'s portfolio, making the stock its 4th largest holding. Baillie Gifford & Co. owned about 2.88% of PDD worth $5,553,962,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Captrust Financial Advisors boosted its stake in PDD by 108.5% during the 1st quarter. Captrust Financial Advisors now owns 636 shares of the company's stock valued at $26,000 after purchasing an additional 331 shares in the last quarter. SRS Capital Advisors Inc. boosted its stake in PDD by 294.4% during the 3rd quarter. SRS Capital Advisors Inc. now owns 280 shares of the company's stock valued at $27,000 after purchasing an additional 209 shares in the last quarter. Altshuler Shaham Ltd bought a new position in PDD during the 4th quarter valued at $43,000. Turim 21 Investimentos Ltda. bought a new position in PDD during the 3rd quarter valued at $55,000. Finally, Wahed Invest LLC bought a new position in PDD during the 1st quarter valued at $70,000. 29.07% of the stock is owned by institutional investors.

PDD Stock Up 3.0 %

Shares of NASDAQ:PDD traded up $3.48 during midday trading on Tuesday, hitting $121.10. 6,059,376 shares of the stock were exchanged, compared to its average volume of 8,488,622. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.83 and a current ratio of 1.93. PDD Holdings Inc. has a 52-week low of $59.67 and a 52-week high of $152.99. The business's fifty day simple moving average is $123.98 and its two-hundred day simple moving average is $125.00. The company has a market capitalization of $159.80 billion, a PE ratio of 21.13, a P/E/G ratio of 0.31 and a beta of 0.67.

Analyst Ratings Changes

A number of brokerages have issued reports on PDD. Citigroup increased their price target on PDD from $170.00 to $185.00 and gave the company a "buy" rating in a research note on Thursday, March 21st. JPMorgan Chase & Co. cut their price objective on PDD from $195.00 to $190.00 and set an "overweight" rating for the company in a research report on Thursday, March 21st. Barclays increased their price objective on PDD from $164.00 to $178.00 and gave the company an "overweight" rating in a research report on Thursday, March 21st. Jefferies Financial Group increased their price objective on PDD from $157.00 to $161.00 and gave the company a "buy" rating in a research report on Thursday, March 21st. Finally, The Goldman Sachs Group downgraded PDD from a "buy" rating to a "neutral" rating and set a $136.00 price objective for the company. in a research report on Monday, March 11th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $146.85.

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.