PDD Target of Unusually Large Options Trading (NASDAQ:PDD)

PDD Holdings Inc. (NASDAQ:PDD - Get Free Report) was the target of unusually large options trading on Thursday. Stock traders purchased 82,480 call options on the stock. This is an increase of 31% compared to the average daily volume of 62,838 call options.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PDD. Future Financial Wealth Managment LLC purchased a new stake in shares of PDD during the first quarter worth about $29,000. SRS Capital Advisors Inc. grew its position in shares of PDD by 294.4% in the third quarter. SRS Capital Advisors Inc. now owns 280 shares of the company's stock valued at $27,000 after purchasing an additional 209 shares during the period. Gordian Capital Singapore Pte Ltd acquired a new position in PDD in the fourth quarter valued at $59,000. EverSource Wealth Advisors LLC lifted its position in PDD by 31.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company's stock worth $62,000 after buying an additional 101 shares during the period. Finally, Turim 21 Investimentos Ltda. acquired a new position in shares of PDD during the 3rd quarter valued at about $55,000. Hedge funds and other institutional investors own 29.07% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on PDD. Benchmark lifted their price target on PDD from $215.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, March 21st. Jefferies Financial Group upped their price target on shares of PDD from $157.00 to $161.00 and gave the company a "buy" rating in a research report on Thursday, March 21st. Barclays lifted their price objective on shares of PDD from $164.00 to $178.00 and gave the company an "overweight" rating in a research note on Thursday, March 21st. The Goldman Sachs Group downgraded shares of PDD from a "buy" rating to a "neutral" rating and set a $136.00 target price for the company. in a research note on Monday, March 11th. Finally, Citigroup boosted their price target on PDD from $170.00 to $185.00 and gave the company a "buy" rating in a research report on Thursday, March 21st. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $146.85.

PDD Price Performance

Shares of NASDAQ:PDD traded up $2.08 on Thursday, reaching $143.38. 9,867,650 shares of the company were exchanged, compared to its average volume of 8,379,728. The company has a 50-day moving average of $124.06 and a 200-day moving average of $129.34. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.03. The firm has a market cap of $197.27 billion, a price-to-earnings ratio of 25.00, a price-to-earnings-growth ratio of 0.36 and a beta of 0.67. PDD has a 1-year low of $59.98 and a 1-year high of $152.99.

PDD (NASDAQ:PDD - Get Free Report) last posted its quarterly earnings results on Wednesday, March 20th. The company reported $2.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.42 by $0.81. The company had revenue of $12.52 billion during the quarter, compared to the consensus estimate of $11.80 billion. PDD had a net margin of 24.23% and a return on equity of 39.10%. Equities analysts forecast that PDD will post 7.85 earnings per share for the current fiscal year.

PDD Company Profile

PDD Holdings Inc, a multinational commerce group, owns and operates a portfolio of businesses. It operates Pinduoduo, an e-commerce platform that offers products in various categories, including agricultural produce, apparel, shoes, bags, mother and childcare products, food and beverage, electronic appliances, furniture and household goods, cosmetics and other personal care, sports and fitness items and auto accessories; and Temu, an online marketplace.