Boston Partners Invests $331,000 in Pinduoduo Inc. (NASDAQ:PDD)

Posted by on Feb 15th, 2023

Boston Partners acquired a new position in shares of Pinduoduo Inc. (NASDAQ:PDD – Get Rating) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 61,916 shares of the company’s stock, valued at approximately $331,000.

A number of other hedge funds also recently made changes to their positions in the stock. Ieq Capital LLC lifted its holdings in shares of Pinduoduo by 2.0% during the 3rd quarter. Ieq Capital LLC now owns 9,101 shares of the company’s stock worth $570,000 after acquiring an additional 176 shares during the last quarter. TD Asset Management Inc. raised its position in Pinduoduo by 1.0% in the 3rd quarter. TD Asset Management Inc. now owns 19,900 shares of the company’s stock worth $1,209,000 after purchasing an additional 200 shares during the period. Wahed Invest LLC raised its position in Pinduoduo by 14.8% in the 2nd quarter. Wahed Invest LLC now owns 1,990 shares of the company’s stock worth $123,000 after purchasing an additional 256 shares during the period. CWM LLC raised its position in Pinduoduo by 196.3% in the 2nd quarter. CWM LLC now owns 403 shares of the company’s stock worth $25,000 after purchasing an additional 267 shares during the period. Finally, Captrust Financial Advisors raised its position in Pinduoduo by 108.5% in the 1st quarter. Captrust Financial Advisors now owns 636 shares of the company’s stock worth $26,000 after purchasing an additional 331 shares during the period. 24.24% of the stock is owned by institutional investors.

Pinduoduo Stock Performance

Shares of NASDAQ PDD opened at $95.89 on Wednesday. Pinduoduo Inc. has a 1 year low of $23.21 and a 1 year high of $106.38. The company has a current ratio of 2.27, a quick ratio of 2.27 and a debt-to-equity ratio of 0.15. The company’s 50-day moving average is $91.68 and its 200 day moving average is $72.06.

Pinduoduo (NASDAQ:PDD – Get Rating) last announced its quarterly earnings results on Monday, November 28th. The company reported $1.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.49. Pinduoduo had a net margin of 24.08% and a return on equity of 34.80%. The company had revenue of $4.99 billion for the quarter, compared to analysts’ expectations of $4.45 billion. On average, analysts anticipate that Pinduoduo Inc. will post 3.13 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Morgan Stanley lifted their target price on shares of Pinduoduo from $65.00 to $77.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 29th. Benchmark lifted their target price on shares of Pinduoduo from $107.00 to $112.00 and gave the stock a “buy” rating in a research report on Tuesday, November 29th. Citigroup lifted their target price on shares of Pinduoduo from $79.00 to $111.00 and gave the stock a “buy” rating in a research report on Tuesday, November 29th. Barclays boosted their price objective on shares of Pinduoduo from $70.00 to $84.00 and gave the company an “overweight” rating in a research report on Wednesday, November 30th. Finally, Macquarie boosted their price objective on shares of Pinduoduo from $104.00 to $122.00 and gave the company an “outperform” rating in a research report on Tuesday, November 29th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $87.50.

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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Institutional Ownership by Quarter for Pinduoduo (NASDAQ:PDD)

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