Baillie Gifford & Co. recently announced the acquisition of new stake in PDD Holdings Inc ADR (NASDAQ:PDD). The institutional investor has increased its shareholding in the Consumer Cyclical company by 14.44% to 35.67 million shares with purchase of 4.5 million shares. This fresh investment now brings its stake to 2.69% valued currently at $5.26 billion. In addition, The Vanguard Group, Inc. raised its holdings by 5.03 million to 18.05 million shares. And BlackRock Fund Advisors has lifted its position by 11.71% or 1.79 million shares – to 17.05 million shares.
With over 8.1 million PDD Holdings Inc ADR (PDD) shares trading Tuesday and a closing price of $145.64 on the day, the dollar volume was approximately $1.18 billion. The shares have shown a positive half year performance of 104.29% and its price on 01/02/24 lost nearly -0.46%. Currently, there are 1.32B common shares owned by the public and among those 1.30B shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 45 analysts who have offered their price forecasts for PDD have a consensus price objective of $1191.38. The analysts have set the share’s price value over the next 12 months at a high of $1524.82 and a low of $783.03. The average price target is 12.72% above its recent price level and an upside to the estimated low will see the stock gain 81.4% over that period. But an upside of 90.45% will see the stock hit the forecast high price target while median target price for the stock is $1201.59.
The top 3 mutual fund holders in PDD Holdings Inc ADR are Invesco QQQ Trust, Government Pension Fund – Global, and Vanguard Emerging Markets Stock I. Invesco QQQ Trust owns 11.33 million shares of the company’s stock, all valued at over $1.67 billion. The company sold 38456.0 shares recently to bring their total holdings to about 0.85% of the shares outstanding. Government Pension Fund – Global bought 3.04 million shares to see its total holdings expand to 8.53 million shares valued at over $1.26 billion and representing 0.64% of the shares outstanding. Vanguard Emerging Markets Stock I bought 11416.0 shares to bring its total holdings to over 8.28 million shares at a value of $1.22 billion. Vanguard Emerging Markets Stock I now owns shares totaling to 0.62% of the shares outstanding.
Shares of PDD Holdings Inc ADR (NASDAQ: PDD) opened at $143.88, down -$2.43 from a prior closing price of $146.31. However, the script later moved the day high at 145.68, down -0.46%. The company’s stock has a 5-day price change of 0.80% and 46.12% over the past three months. PDD shares are trading -0.46% year to date (YTD), with the 12-month market performance up to 76.73% higher. It has a 12-month low price of $59.67 and touched a high of $150.66 over the same period. PDD has an average intraday trading volume of 7.80 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.39%, 15.86%, and 59.45% respectively.
Institutional ownership of PDD Holdings Inc ADR (NASDAQ: PDD) shares accounts for 26.59% of the company’s 1.32B shares outstanding. Mutual fund holders own 12.10%, while other institutional holders and individual stakeholders account for 14.61% and — respectively.
It has a market capitalization of $193.50B and a beta (3y monthly) value of 0.77. The stock’s trailing 12-month PE ratio is 32.63, while the earnings-per-share (ttm) stands at $4.46. The company has a PEG of 1.53 and a Quick Ratio of 1.83 with the debt-to-equity ratio at 0.12. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.19% over the week and 2.57% over the month.
Analysts forecast that PDD Holdings Inc ADR (PDD) will achieve an EPS of $1.58 for the current quarter, $1.04 for the next quarter and $7.38 for 2024. The lowest estimate earnings-per-share for the quarter is $1.22 while analysts give the company a high EPS estimate of $1.92. Comparatively, EPS for the current quarter was $1.19 a year ago. Earnings per share for the fiscal year are expected to increase by 47.81%, and 29.91% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 45 brokerage firm advisors rate PDD Holdings Inc ADR (PDD) as a “Strong Buy” at a consensus score of 1.27. Specifically, 36 Wall Street analysts polled rate the stock as a buy, while 3 of the 45 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the PDD, a number of firms have released research notes about the stock. UBS stated their Buy rating for the stock in a research note on November 01, 2023, with the firm’s price target at $115-$137.
