Putnam Investments LLC Increases Position in Pinduoduo Inc (NASDAQ:PDD)

Putnam Investments LLC raised its position in Pinduoduo Inc (NASDAQ:PDD) by 74.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 835,590 shares of the company’s stock after purchasing an additional 355,413 shares during the period. Putnam Investments LLC owned 0.08% of Pinduoduo worth $17,239,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. WT Asset Management Ltd boosted its stake in Pinduoduo by 44.8% during the 1st quarter. WT Asset Management Ltd now owns 787,448 shares of the company’s stock worth $64,000 after purchasing an additional 243,622 shares during the period. Steward Partners Investment Advisory LLC acquired a new stake in Pinduoduo during the 2nd quarter worth $107,000. Gilder Gagnon Howe & Co. LLC boosted its stake in Pinduoduo by 12.1% during the 1st quarter. Gilder Gagnon Howe & Co. LLC now owns 5,200 shares of the company’s stock worth $129,000 after purchasing an additional 561 shares during the period. AJO LP acquired a new stake in Pinduoduo during the 1st quarter worth $207,000. Finally, WINTON GROUP Ltd acquired a new stake in Pinduoduo during the 2nd quarter worth $219,000. 13.07% of the stock is currently owned by institutional investors.

Shares of NASDAQ PDD traded down $1.17 during midday trading on Friday, hitting $33.45. The company had a trading volume of 160,333 shares, compared to its average volume of 9,643,268. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.01. Pinduoduo Inc has a twelve month low of $16.53 and a twelve month high of $36.89. The business has a 50-day simple moving average of $29.14 and a two-hundred day simple moving average of $23.99. The firm has a market capitalization of $39.25 billion, a price-to-earnings ratio of -16.75 and a beta of 1.44.

Pinduoduo (NASDAQ:PDD) last announced its quarterly earnings data on Wednesday, August 21st. The company reported ($0.12) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.25) by $0.13. Pinduoduo had a negative net margin of 30.74% and a negative return on equity of 28.55%. The firm had revenue of $7.29 billion during the quarter, compared to analysts’ expectations of $6.15 billion. The business’s revenue for the quarter was up 169.1% compared to the same quarter last year. On average, equities analysts forecast that Pinduoduo Inc will post -0.65 EPS for the current year.

A number of analysts recently weighed in on PDD shares. Benchmark increased their price target on shares of Pinduoduo from $28.00 to $39.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Zacks Investment Research cut shares of Pinduoduo from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Macquarie initiated coverage on shares of Pinduoduo in a research note on Friday, July 5th. They issued an “outperform” rating and a $30.00 target price for the company. New Street Research initiated coverage on shares of Pinduoduo in a research note on Thursday, June 20th. They issued a “buy” rating for the company. Finally, Barclays raised their target price on shares of Pinduoduo from $32.00 to $38.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $31.32.

Pinduoduo Company Profile

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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Institutional Ownership by Quarter for Pinduoduo (NASDAQ:PDD)

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