3,513 Shares in Pinduoduo Inc. (NASDAQ:PDD) Acquired by L & S Advisors Inc

L & S Advisors Inc purchased a new position in shares of Pinduoduo Inc. (NASDAQ:PDD) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 3,513 shares of the company’s stock, valued at approximately $446,000.

A number of other large investors have also recently added to or reduced their stakes in PDD. Commonwealth Equity Services LLC grew its stake in Pinduoduo by 215.0% during the 1st quarter. Commonwealth Equity Services LLC now owns 6,334 shares of the company’s stock worth $848,000 after buying an additional 4,323 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Pinduoduo by 48.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 13,278 shares of the company’s stock valued at $1,778,000 after purchasing an additional 4,340 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of Pinduoduo by 996.4% in the 1st quarter. Alliancebernstein L.P. now owns 69,884 shares of the company’s stock valued at $9,356,000 after purchasing an additional 63,510 shares during the last quarter. The PNC Financial Services Group Inc. grew its stake in shares of Pinduoduo by 70.4% in the 1st quarter. The PNC Financial Services Group Inc. now owns 2,190 shares of the company’s stock valued at $292,000 after purchasing an additional 905 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its stake in shares of Pinduoduo by 32.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 1,547 shares of the company’s stock valued at $207,000 after purchasing an additional 375 shares during the last quarter. Hedge funds and other institutional investors own 19.82% of the company’s stock.

Shares of PDD stock opened at $94.55 on Friday. The stock has a fifty day moving average price of $94.55 and a 200 day moving average price of $117.88. The stock has a market cap of $117.12 billion, a PE ratio of -262.64 and a beta of 1.43. Pinduoduo Inc. has a 1 year low of $69.89 and a 1 year high of $212.60. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.84 and a current ratio of 1.84.

Pinduoduo (NASDAQ:PDD) last issued its quarterly earnings data on Monday, August 23rd. The company reported $2.85 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $3.07. The firm had revenue of $23.05 billion during the quarter, compared to analysts’ expectations of $26.53 billion. Pinduoduo had a negative return on equity of 3.82% and a negative net margin of 3.02%. The firm’s quarterly revenue was up 89.0% on a year-over-year basis. As a group, equities research analysts predict that Pinduoduo Inc. will post 0.63 earnings per share for the current year.

Several research analysts have weighed in on PDD shares. Bank of America lifted their target price on Pinduoduo from $143.00 to $148.00 and gave the company a “buy” rating in a research note on Wednesday, August 25th. Zacks Investment Research upgraded Pinduoduo from a “hold” rating to a “buy” rating and set a $120.00 target price on the stock in a research note on Friday, September 3rd. Citigroup reduced their price target on Pinduoduo from $168.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, August 25th. China Renaissance Securities raised Pinduoduo from a “hold” rating to a “buy” rating and set a $150.00 price target for the company in a report on Friday, August 6th. Finally, TheStreet cut Pinduoduo from a “c-” rating to a “d” rating in a report on Wednesday, August 25th. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, Pinduoduo presently has a consensus rating of “Buy” and an average target price of $159.27.

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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