Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GQG Partners LLC bought a new position in Pinduoduo during the 2nd quarter worth $380,782,000. RWC Asset Advisors US LLC acquired a new position in shares of Pinduoduo during the 2nd quarter valued at about $195,957,000. UBS Asset Management Americas Inc. grew its holdings in Pinduoduo by 92.2% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 5,390,519 shares of the company’s stock valued at $333,134,000 after buying an additional 2,585,443 shares during the last quarter. Trivest Advisors Ltd grew its holdings in Pinduoduo by 19,420.0% in the 2nd quarter. Trivest Advisors Ltd now owns 1,952,000 shares of the company’s stock valued at $120,634,000 after buying an additional 1,942,000 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Pinduoduo in the 1st quarter worth approximately $72,253,000. Hedge funds and other institutional investors own 24.24% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on PDD shares. Macquarie raised their price target on Pinduoduo from $104.00 to $122.00 and gave the company an “outperform” rating in a report on Tuesday, November 29th. Benchmark boosted their price target on Pinduoduo from $107.00 to $112.00 and gave the company a “buy” rating in a report on Tuesday, November 29th. Morgan Stanley upped their target price on Pinduoduo from $65.00 to $77.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 29th. Citigroup boosted their price target on Pinduoduo from $79.00 to $111.00 and gave the stock a “buy” rating in a research report on Tuesday, November 29th. Finally, Barclays boosted their price target on Pinduoduo from $70.00 to $84.00 and gave the company an “overweight” rating in a research note on Wednesday, November 30th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $87.50.
Pinduoduo Price Performance
Shares of PDD opened at $94.46 on Thursday. The company has a quick ratio of 2.27, a current ratio of 2.27 and a debt-to-equity ratio of 0.15. Pinduoduo Inc. has a 52-week low of $23.21 and a 52-week high of $106.38. The business’s 50 day moving average is $91.86 and its two-hundred day moving average is $72.22.
Pinduoduo (NASDAQ:PDD – Get Rating) last announced its earnings results on Monday, November 28th. The company reported $1.03 EPS for the quarter, beating the consensus estimate of $0.54 by $0.49. Pinduoduo had a return on equity of 34.80% and a net margin of 24.08%. The business had revenue of $4.99 billion during the quarter, compared to the consensus estimate of $4.45 billion. As a group, equities research analysts predict that Pinduoduo Inc. will post 3.13 earnings per share for the current fiscal year.
Pinduoduo Profile
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Pinduoduo, Inc operates as a holding company, which engages in the development and management of an e-commerce platform. Its Pinduoduo mobile application offers a selection of merchandise for buyer acquisition and engagement. The company was founded by Hua Lin Cai and Zheng Huang on April 20, 2015 and is headquartered in Shanghai, China.
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