Cerity Partners LLC Takes Position in Pinduoduo Inc. (NASDAQ:PDD)

Cerity Partners LLC acquired a new stake in Pinduoduo Inc. (NASDAQ:PDDGet Rating) in the 2nd quarter, HoldingsChannel reports. The fund acquired 3,856 shares of the company’s stock, valued at approximately $239,000.

Other institutional investors and hedge funds have also modified their holdings of the company. DB Wealth Management Group LLC acquired a new position in Pinduoduo in the 1st quarter worth about $25,000. CWM LLC raised its holdings 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. Captrust Financial Advisors raised its holdings 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. Steward Partners Investment Advisory LLC raised its holdings in Pinduoduo by 85.5% in the 1st quarter. Steward Partners Investment Advisory LLC now owns 757 shares of the company’s stock worth $30,000 after purchasing an additional 349 shares during the period. Finally, Advisory Services Network LLC acquired a new position in shares of Pinduoduo during the second quarter valued at approximately $34,000. Institutional investors and hedge funds own 22.70% of the company’s stock.

Pinduoduo Trading Down 3.6 %

Shares of Pinduoduo stock opened at $67.62 on Tuesday. The firm has a market capitalization of $83.76 billion, a price-to-earnings ratio of 31.75 and a beta of 0.59. Pinduoduo Inc. has a fifty-two week low of $23.21 and a fifty-two week high of $84.06. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.89 and a current ratio of 1.89. The stock has a 50 day moving average of $60.82 and a 200 day moving average of $56.53.

Pinduoduo (NASDAQ:PDDGet Rating) last released its quarterly earnings results on Monday, August 29th. The company reported $7.54 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $7.27. Pinduoduo had a return on equity of 29.57% and a net margin of 18.88%. The company had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $3.54 billion. During the same period in the prior year, the firm earned $0.33 earnings per share. As a group, research analysts predict that Pinduoduo Inc. will post 2.52 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PDD shares. Barclays raised Pinduoduo from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $66.00 to $70.00 in a report on Thursday, October 27th. Citigroup reduced their target price on Pinduoduo from $83.00 to $79.00 and set a “buy” rating for the company in a report on Thursday, October 27th. Benchmark increased their target price on Pinduoduo from $85.00 to $107.00 in a report on Monday, August 29th. Morgan Stanley reduced their target price on Pinduoduo from $75.00 to $65.00 in a report on Monday, October 31st. Finally, Macquarie increased their target price on Pinduoduo from $77.00 to $104.00 and gave the company an “outperform” rating in a report on Wednesday, August 31st. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Pinduoduo has a consensus rating of “Moderate Buy” and an average price target of $76.27.

About Pinduoduo

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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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Institutional Ownership by Quarter for Pinduoduo (NASDAQ:PDD)

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