Ritholtz Wealth Management raised its holdings in shares of Pinduoduo Inc. (NASDAQ:PDD) by 16.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,795 shares of the company’s stock after buying an additional 541 shares during the period. Ritholtz Wealth Management’s holdings in Pinduoduo were worth $281,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in PDD. Vanguard Group Inc. boosted its position in shares of Pinduoduo by 129.8% during the second quarter. Vanguard Group Inc. now owns 9,831,038 shares of the company’s stock valued at $843,897,000 after buying an additional 5,552,397 shares during the period. Discovery Value Fund boosted its position in shares of Pinduoduo by 254.4% during the second quarter. Discovery Value Fund now owns 3,069,331 shares of the company’s stock valued at $263,471,000 after buying an additional 2,203,319 shares during the period. Hillhouse Capital Advisors LTD. boosted its position in shares of Pinduoduo by 13.0% during the second quarter. Hillhouse Capital Advisors LTD. now owns 9,863,866 shares of the company’s stock valued at $846,714,000 after buying an additional 1,134,500 shares during the period. Softbank Group Corp purchased a new position in shares of Pinduoduo during the second quarter valued at approximately $86,836,000. Finally, Assenagon Asset Management S.A. raised its stake in shares of Pinduoduo by 155.9% during the third quarter. Assenagon Asset Management S.A. now owns 1,450,679 shares of the company’s stock valued at $107,568,000 after acquiring an additional 883,837 shares in the last quarter. Institutional investors and hedge funds own 20.85% of the company’s stock.
Several analysts have recently weighed in on PDD shares. Barclays lifted their price target on shares of Pinduoduo from $75.00 to $79.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 20th. Bank of America lifted their price target on shares of Pinduoduo from $71.00 to $85.10 and gave the company a “neutral” rating in a research note on Monday, August 17th. UBS Group downgraded shares of Pinduoduo from a “buy” rating to a “neutral” rating and set a $95.00 price target for the company. in a research note on Monday, August 24th. Zacks Investment Research downgraded shares of Pinduoduo from a “hold” rating to a “sell” rating in a research note on Friday. Finally, BOCOM International downgraded shares of Pinduoduo from a “buy” rating to a “neutral” rating and set a $89.00 price target for the company. in a research note on Monday, August 24th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company’s stock. Pinduoduo currently has an average rating of “Hold” and a consensus price target of $74.77.
Shares of PDD traded up $1.06 during trading hours on Monday, reaching $87.97. 38,989 shares of the company traded hands, compared to its average volume of 8,202,092. The stock has a market capitalization of $96.81 billion, a P/E ratio of -79.73 and a beta of 1.28. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.19. Pinduoduo Inc. has a 12-month low of $30.20 and a 12-month high of $98.96. The business has a fifty day moving average price of $80.36 and a 200-day moving average price of $74.52.
Pinduoduo (NASDAQ:PDD) last announced its quarterly earnings data on Friday, August 21st. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.12. The firm had revenue of $12.19 billion for the quarter, compared to analyst estimates of $12.08 billion. Pinduoduo had a negative net margin of 24.51% and a negative return on equity of 35.73%. The business’s quarterly revenue was up 67.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.04) earnings per share. As a group, research analysts predict that Pinduoduo Inc. will post -0.92 EPS for the current fiscal year.
Pinduoduo Company Profile
Pinduoduo Inc, through its subsidiaries, operates an e-commerce platform in the People's Republic of China. It operates Pinduoduo, a mobile platform that offers a range of products, including apparel, shoes, bags, mother and childcare products, food and beverage, fresh produce, electronic appliances, furniture and household goods, cosmetics and other personal care items, sports and fitness items, and auto accessories.
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