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 $5.22 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.
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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The top 3 mutual fund holders in PDD Holdings Inc ADR are Invesco QQQ Trust, Government Pension Fund – Global, and Vanguard Total International Stoc. Invesco QQQ Trust owns 12.28 million shares of the company’s stock, all valued at over $1.8 billion. The company sold 31523.0 shares recently to bring their total holdings to about 0.93% 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 $1.25 billion and representing 0.64% of the shares outstanding. Vanguard Total International Stoc bought 4557.0 shares to bring its total holdings to over 8.23 million shares at a value of $1.2 billion. Vanguard Total International Stoc now owns shares totaling to 0.62% of the shares outstanding.
The company’s stock has a 5-day price change of -4.88% and 35.84% over the past three months. PDD shares are trading -3.38% year to date (YTD), with the 12-month market performance up to 56.69% higher. It has a 12-month low price of $59.67 and touched a high of $152.99 over the same period. PDD has an average intraday trading volume of 7.63 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 -3.37%, 3.55%, and 47.58% respectively.
Institutional ownership of PDD Holdings Inc ADR (NASDAQ: PDD) shares accounts for 26.43% of the company’s 1.32B shares outstanding. Mutual fund holders own 12.70%, while other institutional holders and individual stakeholders account for 13.86% and — respectively.
It has a market capitalization of $187.82B and a beta (3y monthly) value of 0.68. The stock’s trailing 12-month PE ratio is 31.67, while the earnings-per-share (ttm) stands at $4.46. The company has a PEG of 1.49 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 3.30% over the week and 2.81% over the month.
Analysts forecast that PDD Holdings Inc ADR (PDD) will achieve an EPS of $1.58 for the current quarter, $1.03 for the next quarter and $7.44 for 2024. The lowest estimate earnings-per-share for the quarter is $1.22 while analysts give the company a high EPS estimate of $1.91. Comparatively, EPS for the current quarter was $1.19 a year ago. Earnings per share for the fiscal year are expected to increase by 49.44%, and 31.30% over the next financial year.
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.
