Virtu Financial LLC purchased a new position in Pinduoduo Inc (NASDAQ:PDD) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 23,676 shares of the company’s stock, valued at approximately $622,000.
A number of other hedge funds have also bought and sold shares of PDD. FMR LLC bought a new position in Pinduoduo in the 3rd quarter worth approximately $150,964,000. JPMorgan Chase & Co. bought a new position in Pinduoduo in the 3rd quarter worth approximately $57,806,000. Tiger Pacific Capital LP bought a new position in Pinduoduo in the 3rd quarter worth approximately $10,089,000. Wells Fargo & Company MN bought a new position in Pinduoduo in the 3rd quarter worth approximately $9,579,000. Finally, TB Alternative Assets Ltd. bought a new position in Pinduoduo in the 3rd quarter worth approximately $9,309,000. Institutional investors and hedge funds own 6.06% of the company’s stock.
NASDAQ PDD opened at $20.61 on Friday. Pinduoduo Inc has a one year low of $16.53 and a one year high of $30.48.
A number of research firms have recently commented on PDD. Credit Suisse Group set a $26.00 target price on Pinduoduo and gave the company a “buy” rating in a research report on Wednesday, November 21st. Goldman Sachs Group began coverage on Pinduoduo in a research report on Thursday, September 13th. They set a “buy” rating and a $31.90 target price for the company.
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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