Maven Securities LTD bought a new stake in Pinduoduo Inc (NASDAQ:PDD) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 19,337 shares of the company’s stock, valued at approximately $428,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. LMR Partners LLP acquired a new position in Pinduoduo during the fourth quarter worth approximately $6,283,000. Northern Trust Corp increased its position in Pinduoduo by 27.4% during the fourth quarter. Northern Trust Corp now owns 33,133 shares of the company’s stock worth $744,000 after buying an additional 7,133 shares during the last quarter. Tibra Equities Europe Ltd acquired a new position in Pinduoduo during the fourth quarter worth approximately $2,244,000. Raymond James & Associates acquired a new position in Pinduoduo during the fourth quarter worth approximately $364,000. Finally, BlackRock Inc. increased its position in Pinduoduo by 5.1% during the fourth quarter. BlackRock Inc. now owns 89,136 shares of the company’s stock worth $2,001,000 after buying an additional 4,287 shares during the last quarter. 6.76% of the stock is owned by institutional investors.
PDD has been the topic of a number of recent analyst reports. Credit Suisse Group set a $26.00 price target on Pinduoduo and gave the stock a “buy” rating in a research report on Wednesday, November 21st. Morgan Stanley initiated coverage on Pinduoduo in a research report on Wednesday, January 16th. They issued an “overweight” rating and a $29.00 target price on the stock. HSBC initiated coverage on Pinduoduo in a research report on Friday, February 1st. They issued a “hold” rating on the stock. ValuEngine downgraded Pinduoduo from a “buy” rating to a “hold” rating in a research report on Wednesday, February 20th. Finally, UBS Group initiated coverage on Pinduoduo in a research report on Wednesday, March 6th. They issued a “buy” rating and a $37.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $30.98.
Pinduoduo (NASDAQ:PDD) last issued its earnings results on Wednesday, March 13th. The company reported ($0.32) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by ($0.03). The firm had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.31 billion. Pinduoduo’s quarterly revenue was up 379.4% compared to the same quarter last year. On average, sell-side analysts forecast that Pinduoduo Inc will post -2 earnings per share for the current year.
Pinduoduo Company Profile
Pinduoduo Inc operates an e-commerce platform in the People's Republic of China. It also operates Pinduoduo, a mobile platform that offers a range of priced merchandise. The company was formerly known as Walnut Street Group Holding Limited and changed its name to Pinduoduo Inc in July 2018. Pinduoduo Inc was founded in 2015 and is based in Shanghai, the People's Republic of China.
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