Baillie Gifford & Co. Lowers Stock Position in PDD Holdings Inc. Sponsored ADR $PDD

Baillie Gifford & Co. trimmed its holdings in PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) by 7.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,799,003 shares of the company’s stock after selling 2,573,709 shares during the quarter. PDD makes up about 3.1% of Baillie Gifford & Co.’s holdings, making the stock its 11th biggest position. Baillie Gifford & Co. owned 2.28% of PDD worth $4,202,874,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Gunderson Capital Management Inc. grew its position in PDD by 5.5% during the 2nd quarter. Gunderson Capital Management Inc. now owns 1,944 shares of the company’s stock worth $203,000 after purchasing an additional 101 shares during the last quarter. Lido Advisors LLC boosted its stake in shares of PDD by 4.6% during the second quarter. Lido Advisors LLC now owns 2,633 shares of the company’s stock worth $276,000 after buying an additional 115 shares during the period. Range Financial Group LLC grew its holdings in shares of PDD by 3.4% during the third quarter. Range Financial Group LLC now owns 3,489 shares of the company’s stock worth $461,000 after buying an additional 116 shares during the last quarter. Westside Investment Management Inc. grew its holdings in shares of PDD by 398.0% during the second quarter. Westside Investment Management Inc. now owns 249 shares of the company’s stock worth $26,000 after buying an additional 199 shares during the last quarter. Finally, Bridgewater Advisors Inc. increased its position in PDD by 10.8% in the 2nd quarter. Bridgewater Advisors Inc. now owns 2,367 shares of the company’s stock valued at $273,000 after acquiring an additional 230 shares during the period. Institutional investors and hedge funds own 39.83% of the company’s stock.

PDD Stock Performance

NASDAQ:PDD opened at $106.38 on Friday. PDD Holdings Inc. Sponsored ADR has a 1 year low of $87.11 and a 1 year high of $139.41. The stock has a fifty day moving average price of $113.90 and a two-hundred day moving average price of $120.63. The stock has a market capitalization of $148.10 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 0.99 and a beta of 0.02.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PDD shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of PDD in a research note on Wednesday, October 8th. Citigroup reaffirmed a “buy” rating on shares of PDD in a report on Tuesday. Arete Research set a $130.00 price objective on shares of PDD in a research report on Tuesday, December 9th. Loop Capital set a $170.00 price objective on shares of PDD in a research note on Tuesday, January 6th. Finally, Wall Street Zen upgraded shares of PDD from a “hold” rating to a “buy” rating in a research report on Friday. Five research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $139.87.

About PDD

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.