155,129 Shares in Pinduoduo Inc (PDD) Acquired by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. acquired a new position in shares of Pinduoduo Inc (NASDAQ:PDD) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 155,129 shares of the company’s stock, valued at approximately $3,481,000.

Several other large investors have also added to or reduced their stakes in the company. OppenheimerFunds Inc. acquired a new position in shares of Pinduoduo during the 3rd quarter worth about $355,554,000. Capital World Investors acquired a new position in shares of Pinduoduo during the 3rd quarter worth about $201,659,000. FMR LLC acquired a new position in shares of Pinduoduo during the 3rd quarter worth about $150,964,000. Baillie Gifford & Co. acquired a new position in shares of Pinduoduo during the 3rd quarter worth about $130,173,000. Finally, Vanguard Group Inc acquired a new position in shares of Pinduoduo during the 3rd quarter worth about $72,991,000. 7.17% of the stock is owned by institutional investors and hedge funds.

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PDD has been the subject of several analyst reports. HSBC initiated coverage on Pinduoduo in a research report on Friday, February 1st. They set a “hold” rating for the company. ValuEngine cut Pinduoduo from a “buy” rating to a “hold” rating in a research report on Wednesday, February 20th. Morgan Stanley initiated coverage on Pinduoduo in a research report on Wednesday, January 16th. They set an “overweight” rating and a $29.00 price objective for the company. Finally, Credit Suisse Group set a $26.00 price objective on Pinduoduo and gave the stock a “buy” rating in a research report on Wednesday, November 21st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $28.97.

Shares of NASDAQ PDD traded down $0.02 during trading hours on Tuesday, reaching $31.12. The stock had a trading volume of 48,319 shares, compared to its average volume of 7,303,654. Pinduoduo Inc has a fifty-two week low of $16.53 and a fifty-two week high of $31.96.

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Pinduoduo 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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