Penserra Capital Management LLC lowered its stake in shares of Pinduoduo Inc (NASDAQ:PDD) by 16.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 185,882 shares of the company’s stock after selling 36,407 shares during the quarter. Penserra Capital Management LLC’s holdings in Pinduoduo were worth $4,609,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. bought a new stake in Pinduoduo during the first quarter worth $35,000. Enlightenment Research LLC bought a new position in Pinduoduo in the 4th quarter valued at $54,000. Quadrant Capital Group LLC bought a new position in Pinduoduo in the 1st quarter valued at $66,000. Atlas Capital Advisors LLC bought a new position in Pinduoduo in the 1st quarter valued at $87,000. Finally, Daiwa Securities Group Inc. bought a new position in Pinduoduo in the 1st quarter valued at $102,000. Institutional investors and hedge funds own 8.55% of the company’s stock.

Shares of NASDAQ:PDD opened at $20.46 on Thursday. The firm has a market capitalization of $23.84 billion and a price-to-earnings ratio of -10.23. Pinduoduo Inc has a 1 year low of $16.53 and a 1 year high of $31.99.

Pinduoduo (NASDAQ:PDD) last announced its quarterly earnings data on Monday, May 20th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.04. Pinduoduo had a negative return on equity of 96.31% and a negative net margin of 73.90%. The firm had revenue of $4.55 billion during the quarter, compared to the consensus estimate of $4.11 billion. The company’s revenue for the quarter was up 228.3% compared to the same quarter last year. On average, equities research analysts expect that Pinduoduo Inc will post -0.75 earnings per share for the current fiscal year.

PDD has been the subject of a number of recent analyst reports. HSBC initiated coverage on Pinduoduo in a research note on Friday, February 1st. They issued a “hold” rating for the company. UBS Group initiated coverage on Pinduoduo in a research note on Wednesday, March 6th. They issued a “buy” rating and a $37.00 price objective for the company. Bank of America initiated coverage on Pinduoduo in a research note on Wednesday, May 15th. They issued a “buy” rating for the company. ValuEngine downgraded Pinduoduo from a “buy” rating to a “hold” rating in a research note on Wednesday, February 20th. Finally, KeyCorp initiated coverage on Pinduoduo in a research note on Tuesday, April 16th. They issued an “overweight” rating and a $32.00 price objective for the company. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $29.95.

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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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