Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Purchases 38,163 Shares of Pinduoduo Inc. (NASDAQ:PDD)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in shares of Pinduoduo Inc. (NASDAQ:PDD - Get Rating) by 21.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 214,037 shares of the company's stock after acquiring an additional 38,163 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.'s holdings in Pinduoduo were worth $13,394,000 as of its most recent filing with the Securities & Exchange Commission.

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Several other hedge funds and other institutional investors have also recently modified their holdings of PDD. E Fund Management Hong Kong Co. Ltd. increased its holdings in shares of Pinduoduo by 136.0% during the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 257,145 shares of the company's stock valued at $10,857,000 after acquiring an additional 148,166 shares in the last quarter. Advisor Group Holdings Inc. grew its holdings in Pinduoduo by 100.2% during the first quarter. Advisor Group Holdings Inc. now owns 3,741 shares of the company's stock worth $152,000 after buying an additional 1,872 shares in the last quarter. Raymond James & Associates grew its holdings in Pinduoduo by 16.1% during the first quarter. Raymond James & Associates now owns 16,641 shares of the company's stock worth $667,000 after buying an additional 2,304 shares in the last quarter. American Century Companies Inc. grew its holdings in Pinduoduo by 30.7% during the first quarter. American Century Companies Inc. now owns 28,785 shares of the company's stock worth $1,155,000 after buying an additional 6,766 shares in the last quarter. Finally, Panagora Asset Management Inc. grew its holdings in Pinduoduo by 16.5% during the first quarter. Panagora Asset Management Inc. now owns 40,548 shares of the company's stock worth $1,626,000 after buying an additional 5,744 shares in the last quarter. Institutional investors own 24.24% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. KGI Securities upgraded Pinduoduo from a "neutral" rating to an "outperform" rating in a report on Friday, December 9th. Benchmark upped their price objective on Pinduoduo from $107.00 to $112.00 and gave the company a "buy" rating in a research note on Tuesday, November 29th. Citigroup upped their price objective on Pinduoduo from $79.00 to $111.00 and gave the company a "buy" rating in a research note on Tuesday, November 29th. Macquarie upped their price objective on Pinduoduo from $104.00 to $122.00 and gave the company an "outperform" rating in a research note on Tuesday, November 29th. Finally, Morgan Stanley upped their price objective on Pinduoduo from $65.00 to $77.00 and gave the company an "equal weight" rating in a research note on Tuesday, November 29th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Pinduoduo has an average rating of "Moderate Buy" and an average price target of $87.50.

Pinduoduo Stock Up 3.8 %

Shares of NASDAQ PDD opened at $97.00 on Tuesday. Pinduoduo Inc. has a one year low of $23.21 and a one year high of $99.30. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.27 and a quick ratio of 2.27. The business's fifty day moving average price is $81.51 and its 200-day moving average price is $66.29. The stock has a market capitalization of $120.15 billion, a PE ratio of 32.55 and a beta of 0.71.

Pinduoduo (NASDAQ:PDD - Get Rating) last issued its quarterly earnings data on Monday, November 28th. The company reported $1.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.54 by $0.49. The business had revenue of $4.99 billion for the quarter, compared to analysts' expectations of $4.45 billion. Pinduoduo had a return on equity of 34.80% and a net margin of 24.08%. On average, equities research analysts anticipate that Pinduoduo Inc. will post 3.13 EPS for the current year.

Pinduoduo 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 beverages, 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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