Virtu Financial LLC bought a new position in Pinduoduo Inc (NASDAQ:PDD) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 23,676 shares of the company’s stock, valued at approximately $622,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Granite Point Capital Management L.P. purchased a new stake in shares of Pinduoduo during the 3rd quarter valued at about $263,000. Credit Suisse AG purchased a new stake in shares of Pinduoduo during the 3rd quarter valued at about $667,000. FMR LLC purchased a new stake in shares of Pinduoduo during the 3rd quarter valued at about $150,964,000. BlackRock Inc. purchased a new stake in shares of Pinduoduo during the 3rd quarter valued at about $2,231,000. Finally, CI Investments Inc. purchased a new stake in shares of Pinduoduo during the 3rd quarter valued at about $1,222,000. 6.06% of the stock is currently owned by institutional investors.
Several equities research analysts have recently commented on PDD shares. Goldman Sachs Group started coverage on shares of Pinduoduo in a research report on Thursday, September 13th. They set a “buy” rating and a $31.90 price target for the company. Credit Suisse Group set a $26.00 price target on shares of Pinduoduo and gave the company a “buy” rating in a research report on Wednesday, November 21st.
Pinduoduo (NASDAQ:PDD) last released its quarterly earnings results on Tuesday, November 20th. The company reported ($0.16) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.24) by $0.08. The business had revenue of $491.03 million for the quarter.
COPYRIGHT VIOLATION NOTICE: This article was first posted by Community Financial News and is the sole property of of Community Financial News. If you are viewing this article on another publication, it was stolen and reposted in violation of US and international copyright law. The original version of this article can be viewed at https://www.com-unik.info/2018/12/08/virtu-financial-llc-takes-622000-position-in-pinduoduo-inc-pdd.html.
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.
Read More: Hedge Funds Explained
Want to see what other hedge funds are holding PDD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pinduoduo Inc (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.