Mitsubishi UFJ Trust & Banking Corp Sells 54,544 Shares of Pinduoduo Inc. (NASDAQ:PDD)

Mitsubishi UFJ Trust & Banking Corp lessened its holdings in Pinduoduo Inc. (NASDAQ:PDD) by 5.6% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 915,324 shares of the company’s stock after selling 54,544 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.07% of Pinduoduo worth $116,264,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Lindbrook Capital LLC lifted its stake in shares of Pinduoduo by 131.6% during the 2nd quarter. Lindbrook Capital LLC now owns 315 shares of the company’s stock worth $40,000 after purchasing an additional 179 shares during the last quarter. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Pinduoduo during the 1st quarter worth $47,000. Bank Julius Baer & Co. Ltd Zurich lifted its stake in shares of Pinduoduo by 467.7% during the 1st quarter. Bank Julius Baer & Co. Ltd Zurich now owns 352 shares of the company’s stock worth $47,000 after purchasing an additional 290 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of Pinduoduo by 131.2% during the 2nd quarter. Parallel Advisors LLC now owns 460 shares of the company’s stock worth $58,000 after purchasing an additional 261 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its stake in shares of Pinduoduo by 672.5% during the 1st quarter. Quadrant Capital Group LLC now owns 533 shares of the company’s stock worth $71,000 after purchasing an additional 464 shares during the last quarter. 19.82% of the stock is currently owned by institutional investors and hedge funds.

Shares of PDD stock traded up $0.87 during trading hours on Tuesday, reaching $95.05. 109,185 shares of the company’s stock were exchanged, compared to its average volume of 7,886,655. The company has a market cap of $117.74 billion, a P/E ratio of -261.61 and a beta of 1.43. The company’s 50 day moving average is $95.62 and its two-hundred day moving average is $118.89. 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 current ratio of 1.84 and a quick ratio of 1.84.

Pinduoduo (NASDAQ:PDD) last released its quarterly earnings results on Monday, August 23rd. The company reported $2.85 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $3.07. The business had revenue of $23.05 billion for 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 company’s quarterly revenue was up 89.0% on a year-over-year basis. As a group, analysts predict that Pinduoduo Inc. will post 0.63 EPS for the current fiscal year.

Several analysts recently commented on PDD shares. China Renaissance Securities raised Pinduoduo from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a report on Friday, August 6th. TheStreet lowered Pinduoduo from a “c-” rating to a “d” rating in a report on Wednesday, August 25th. dropped their target price on Pinduoduo from $190.00 to $168.00 and set a “buy” rating on the stock in a report on Thursday, May 27th. Citigroup dropped their target price on Pinduoduo from $168.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, August 25th. Finally, Benchmark lowered their price target on Pinduoduo from $176.00 to $156.00 and set a “buy” rating on the stock in a research note on Wednesday, August 25th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Pinduoduo currently has a consensus rating of “Buy” and an average target price of $159.27.

Pinduoduo Company Profile

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.

See Also: What is a price target?

Institutional Ownership by Quarter for Pinduoduo (NASDAQ:PDD)

Receive News & Ratings for Pinduoduo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pinduoduo and related companies with MarketBeat.com's FREE daily email newsletter.