E Fund Management Hong Kong Co. Ltd. reduced its position in Pinduoduo Inc. (NASDAQ:PDD) by 24.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,627 shares of the company’s stock after selling 36,230 shares during the quarter. Pinduoduo accounts for approximately 8.9% of E Fund Management Hong Kong Co. Ltd.’s investment portfolio, making the stock its 3rd largest holding. E Fund Management Hong Kong Co. Ltd.’s holdings in Pinduoduo were worth $14,306,000 at the end of the most recent quarter. Other hedge funds have also recently added to or reduced their stakes in the company. Blueshift Asset Management LLC purchased a new position in Pinduoduo in the first quarter valued at about $4,416,000. Krane Funds Advisors LLC grew its stake in Pinduoduo by 9.6% in the first quarter. Krane Funds Advisors LLC now owns 1,773,693 shares of the company’s stock valued at $237,462,000 after purchasing an additional 154,829 shares during the last quarter. APG Asset Management N.V. grew its stake in Pinduoduo by 79.6% in the first quarter. APG Asset Management N.V. now owns 771,669 shares of the company’s stock valued at $87,902,000 after purchasing an additional 342,069 shares during the last quarter. GAM Holding AG grew its stake in Pinduoduo by 42.0% in the first quarter. GAM Holding AG now owns 102,096 shares of the company’s stock valued at $13,669,000 after purchasing an additional 30,212 shares during the last quarter. Finally, Mission Creek Capital Partners Inc. purchased a new position in Pinduoduo in the first quarter valued at about $9,459,000. Hedge funds and other institutional investors own 19.52% of the company’s stock. NASDAQ:PDD traded down $3.04 during trading hours on Friday, reaching $84.38. The company had a trading volume of 4,578,940 shares, compared to its average volume of 7,528,129. Pinduoduo Inc. has a 1-year low of $69.89 and a 1-year high of $212.60. The company has a market capitalization of $104.52 billion, a price-to-earnings ratio of -114.03 and a beta of 1.43. The stock has a 50 day moving average price of $108.93. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.76 and a current ratio of 1.76. PDD has been the topic of a number of research analyst reports. China Renaissance Securities upgraded Pinduoduo from a “hold” rating to a “buy” rating and set a $150.00 price target on the stock in a research note on Friday, August 6th. Daiwa Capital Markets initiated coverage on Pinduoduo in a research note on Wednesday, May 5th. They set a “buy” rating and a $180.00 price target on the stock. Citigroup dropped their price target on Pinduoduo from $190.00 to $168.00 and set a “buy” rating on the stock in a research note on Thursday, May 27th. decreased their target price on Pinduoduo from $190.00 to $168.00 and set a “buy” rating for the company in a report on Thursday, May 27th. Finally, Zacks Investment Research downgraded Pinduoduo from a “hold” rating to a “sell” rating in a report on Wednesday, May 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $157.06. Pinduoduo Company 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. Featured Story: What is the return on assets (ROA) ratio? 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](/daily-email-updates-basic/?symbol=NASDAQ:PDD&c=Pinduoduo) .