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, 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.
Receive News & Ratings for Pinduoduo Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Pinduoduo and related companies with MarketBeat.com’s FREE daily email newsletter.