Comerica Bank Has $1.33 Million Stock Holdings in Pinduoduo Inc. (NASDAQ:PDD)

Comerica Bank boosted its holdings in shares of Pinduoduo Inc. (NASDAQ:PDDGet Rating) by 7.5% in the third quarter, Holdings Channel.com reports. The fund owned 29,837 shares of the company’s stock after buying an additional 2,078 shares during the quarter. Comerica Bank’s holdings in Pinduoduo were worth $1,327,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. GQG Partners LLC acquired a new position in shares of Pinduoduo in the 2nd quarter valued at $380,782,000. RWC Asset Advisors US LLC acquired a new position in shares of Pinduoduo in the 2nd quarter valued at $195,957,000. UBS Asset Management Americas Inc. grew its holdings in shares of Pinduoduo by 92.2% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 5,390,519 shares of the company’s stock valued at $333,134,000 after buying an additional 2,585,443 shares during the period. Trivest Advisors Ltd grew its holdings in shares of Pinduoduo by 19,420.0% in the 2nd quarter. Trivest Advisors Ltd now owns 1,952,000 shares of the company’s stock valued at $120,634,000 after buying an additional 1,942,000 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Pinduoduo in the 1st quarter valued at $72,253,000. Institutional investors and hedge funds own 24.24% of the company’s stock.

Pinduoduo Trading Up 2.9 %

Shares of NASDAQ:PDD opened at $92.84 on Monday. The company’s 50-day moving average price is $83.84 and its two-hundred day moving average price is $67.06. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.27 and a quick ratio of 2.27. Pinduoduo Inc. has a one year low of $23.21 and a one year high of $99.30. The stock has a market capitalization of $115.00 billion, a PE ratio of 31.15 and a beta of 0.71.

Pinduoduo (NASDAQ:PDDGet Rating) last issued its quarterly earnings results on Monday, November 28th. The company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.54 by $0.49. Pinduoduo had a net margin of 24.08% and a return on equity of 34.80%. The firm had revenue of $4.99 billion for the quarter, compared to analysts’ expectations of $4.45 billion. On average, equities analysts forecast that Pinduoduo Inc. will post 3.13 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PDD. HSBC boosted their price target on shares of Pinduoduo from $93.00 to $100.00 in a report on Tuesday, November 29th. Barclays upped their target price on shares of Pinduoduo from $70.00 to $84.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 30th. The Goldman Sachs Group upped their target price on shares of Pinduoduo from $107.00 to $123.00 and gave the stock a “buy” rating in a research note on Monday, January 9th. Macquarie upped their target price on shares of Pinduoduo from $104.00 to $122.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 29th. Finally, Morgan Stanley upped their target price on shares of Pinduoduo from $65.00 to $77.00 and gave the stock 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 given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $87.50.

Pinduoduo Company Profile

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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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