Pinduoduo Inc’s (PDD) Lock-Up Period Set To Expire Tomorrow

Pinduoduo’s (NASDAQ:PDD) lock-up period is set to expire on Tuesday, January 22nd. Pinduoduo had issued 85,600,000 shares in its public offering on July 26th. The total size of the offering was $1,626,400,000 based on an initial share price of $19.00. After the end of the company’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

Several research analysts have weighed in on PDD shares. Credit Suisse Group set a $26.00 target price on shares of Pinduoduo and gave the stock a “buy” rating in a research report on Wednesday, November 21st. Morgan Stanley started coverage on shares of Pinduoduo in a research report on Wednesday, January 16th. They set an “overweight” rating and a $29.00 target price on the stock.

Shares of PDD opened at $24.99 on Monday. Pinduoduo has a twelve month low of $16.53 and a twelve month high of $30.48.

Pinduoduo (NASDAQ:PDD) last issued its earnings results on Tuesday, November 20th. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.08. The company had revenue of $491.03 million for the quarter. As a group, analysts forecast that Pinduoduo will post -2 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the business. OppenheimerFunds Inc. acquired a new stake in shares of Pinduoduo in the third quarter valued at approximately $355,554,000. Capital World Investors acquired a new stake in shares of Pinduoduo in the third quarter valued at approximately $201,659,000. FMR LLC acquired a new stake in shares of Pinduoduo in the third quarter valued at approximately $150,964,000. Baillie Gifford & Co. acquired a new stake in shares of Pinduoduo in the third quarter valued at approximately $130,173,000. Finally, Vanguard Group Inc. acquired a new stake in shares of Pinduoduo in the third quarter valued at approximately $72,991,000. Institutional investors own 6.06% of the company’s stock.

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About Pinduoduo

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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