Legal & General Group Plc bought a new stake in Pinduoduo Inc (NASDAQ:PDD) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 227,398 shares of the company’s stock, valued at approximately $5,977,000.
Several other hedge funds also recently bought and sold shares of the company. TB Alternative Assets Ltd. bought a new stake in Pinduoduo during the third quarter worth $9,309,000. First Trust Advisors LP bought a new stake in Pinduoduo during the third quarter worth $589,000. Ariose Capital Management Ltd bought a new stake in Pinduoduo during the third quarter worth $8,990,000. Taikang Asset Management Hong Kong Co Ltd bought a new stake in Pinduoduo during the third quarter worth $9,031,000. Finally, Gilder Gagnon Howe & Co. LLC bought a new stake in Pinduoduo during the third quarter worth $546,000. Institutional investors own 6.06% of the company’s stock.
NASDAQ:PDD opened at $26.16 on Friday. Pinduoduo Inc has a 1 year low of $16.53 and a 1 year high of $30.48.
Pinduoduo (NASDAQ:PDD) last released its earnings results on Tuesday, November 20th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.24) by $0.08. The firm had revenue of $491.03 million during the quarter.
Separately, Credit Suisse Group set a $26.00 price target on Pinduoduo and gave the stock a “buy” rating in a report on Wednesday, November 21st.
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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