Aigen Investment Management LP Invests $516,000 in Pinduoduo Inc. (NASDAQ:PDD)

Aigen Investment Management LP acquired a new position in shares of Pinduoduo Inc. (NASDAQ:PDD) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 4,064 shares of the company’s stock, valued at approximately $516,000.

Several other large investors have also added to or reduced their stakes in the company. Toronto Dominion Bank increased its position in shares of Pinduoduo by 15.9% during the 1st quarter. Toronto Dominion Bank now owns 891 shares of the company’s stock worth $119,000 after purchasing an additional 122 shares in the last quarter. Cigna Investments Inc. New increased its position in shares of Pinduoduo by 2.4% during the 1st quarter. Cigna Investments Inc. New now owns 7,144 shares of the company’s stock worth $956,000 after purchasing an additional 167 shares in the last quarter. Lindbrook Capital LLC increased its position in Pinduoduo by 131.6% in the 2nd quarter. Lindbrook Capital LLC now owns 315 shares of the company’s stock valued at $40,000 after acquiring an additional 179 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its position in Pinduoduo by 13.4% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 1,928 shares of the company’s stock valued at $258,000 after acquiring an additional 228 shares in the last quarter. Finally, Institutional & Family Asset Management LLC acquired a new stake in Pinduoduo in the 1st quarter valued at about $32,000. 19.82% of the stock is owned by institutional investors.

Shares of PDD opened at $101.78 on Wednesday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.84 and a current ratio of 1.84. Pinduoduo Inc. has a twelve month low of $69.89 and a twelve month high of $212.60. The firm’s 50 day moving average price is $96.55 and its two-hundred day moving average price is $120.97. The firm has a market cap of $126.08 billion, a P/E ratio of -282.72 and a beta of 1.43.

Pinduoduo (NASDAQ:PDD) last announced its quarterly earnings results on Monday, August 23rd. The company reported $2.85 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.22) by $3.07. Pinduoduo had a negative net margin of 3.02% and a negative return on equity of 3.82%. The firm had revenue of $23.05 billion for the quarter, compared to analyst estimates of $26.53 billion. The company’s revenue was up 89.0% on a year-over-year basis. On average, sell-side analysts anticipate that Pinduoduo Inc. will post 0.63 earnings per share for the current fiscal year.

Several equities research analysts have weighed in on the stock. Bank of America raised their price objective on shares of Pinduoduo from $143.00 to $148.00 and gave the company a “buy” rating in a research report on Wednesday, August 25th. reduced their target price on shares of Pinduoduo from $190.00 to $168.00 and set a “buy” rating on the stock in a research note on Thursday, May 27th. Citigroup reduced their target price on shares of Pinduoduo from $168.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, August 25th. China Renaissance Securities raised shares of Pinduoduo from a “hold” rating to a “buy” rating and set a $150.00 target price on the stock in a research note on Friday, August 6th. Finally, Benchmark reduced their target price on shares of Pinduoduo from $176.00 to $156.00 and set a “buy” rating on the stock in a research note on Wednesday, August 25th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, Pinduoduo has a consensus rating of “Buy” and an average price target of $159.27.

Pinduoduo 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.

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Institutional Ownership by Quarter for Pinduoduo (NASDAQ:PDD)

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