Pinduoduo Inc. (NASDAQ:PDD) Stake Raised by Morgan Stanley

Morgan Stanley raised its holdings in shares of Pinduoduo Inc. (NASDAQ:PDD) by 7.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,663,032 shares of the company’s stock after acquiring an additional 387,647 shares during the quarter. Morgan Stanley owned approximately 0.46% of Pinduoduo worth $758,168,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Tudor Investment Corp Et Al purchased a new stake in Pinduoduo in the 1st quarter worth approximately $1,759,000. Cubist Systematic Strategies LLC raised its holdings in shares of Pinduoduo by 2,661.6% during the first quarter. Cubist Systematic Strategies LLC now owns 29,356 shares of the company’s stock worth $3,930,000 after acquiring an additional 28,293 shares in the last quarter. Sylebra Capital Ltd boosted its position in Pinduoduo by 42.3% during the first quarter. Sylebra Capital Ltd now owns 258,935 shares of the company’s stock valued at $34,666,000 after purchasing an additional 76,956 shares during the last quarter. Tairen Capital Ltd grew its stake in Pinduoduo by 95.1% in the first quarter. Tairen Capital Ltd now owns 2,233,272 shares of the company’s stock valued at $298,990,000 after purchasing an additional 1,088,559 shares in the last quarter. Finally, Twinbeech Capital LP purchased a new position in Pinduoduo in the first quarter valued at about $689,000. Institutional investors own 19.52% of the company’s stock.

Shares of PDD stock opened at $104.52 on Thursday. Pinduoduo Inc. has a 1 year low of $69.89 and a 1 year high of $212.60. The business’s fifty day moving average is $121.39. The company has a market capitalization of $129.47 billion, a price-to-earnings ratio of -141.24 and a beta of 1.46. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.76 and a quick ratio of 1.76.

Pinduoduo (NASDAQ:PDD) last posted its quarterly earnings results on Tuesday, May 25th. The company reported ($1.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.68) by ($0.84). The company had revenue of $3.38 billion during the quarter, compared to analyst estimates of $3.15 billion. Pinduoduo had a negative return on equity of 13.24% and a negative net margin of 7.96%. As a group, equities analysts anticipate that Pinduoduo Inc. will post -0.5 EPS for the current fiscal year.

PDD has been the subject of several recent research reports. lowered their price target on Pinduoduo from $190.00 to $168.00 and set a “buy” rating for the company in a research note on Thursday, May 27th. Zacks Investment Research downgraded shares of Pinduoduo from a “hold” rating to a “sell” rating in a research report on Wednesday, May 19th. China Renaissance Securities restated a “hold” rating on shares of Pinduoduo in a report on Monday, April 26th. Citigroup decreased their price objective on shares of Pinduoduo from $190.00 to $168.00 and set a “buy” rating for the company in a report on Thursday, May 27th. Finally, Daiwa Capital Markets began coverage on shares of Pinduoduo in a research report on Wednesday, May 5th. They set a “buy” rating and a $180.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $160.00.

About Pinduoduo

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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