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

PDD Holdings Inc. (NASDAQ:PDD - Get Free Report) was the target of some unusual options trading activity on Wednesday. Stock traders bought 126,587 call options on the stock. This is an increase of 35% compared to the average volume of 93,926 call options.

PDD Price Performance

Shares of PDD stock traded down $4.96 during trading hours on Wednesday, hitting $98.02. The company's stock had a trading volume of 13,331,376 shares, compared to its average volume of 11,059,354. The business has a 50 day moving average price of $108.66 and a two-hundred day moving average price of $109.11. PDD has a 12-month low of $87.11 and a 12-month high of $160.00. The company has a market cap of $136.46 billion, a PE ratio of 9.58, a PEG ratio of 0.32 and a beta of 0.57. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15.

Hedge Funds Weigh In On PDD

Large investors have recently made changes to their positions in the business. Strs Ohio purchased a new stake in shares of PDD in the first quarter worth about $6,876,000. IFM Investors Pty Ltd lifted its position in shares of PDD by 6.7% in the first quarter. IFM Investors Pty Ltd now owns 27,776 shares of the company's stock worth $3,287,000 after buying an additional 1,740 shares in the last quarter. Intech Investment Management LLC lifted its position in shares of PDD by 2.7% in the first quarter. Intech Investment Management LLC now owns 14,890 shares of the company's stock worth $1,762,000 after buying an additional 395 shares in the last quarter. Focus Partners Wealth lifted its position in shares of PDD by 352.8% in the first quarter. Focus Partners Wealth now owns 9,939 shares of the company's stock worth $1,176,000 after buying an additional 7,744 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of PDD by 899.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,985,969 shares of the company's stock worth $1,063,489,000 after buying an additional 8,086,620 shares in the last quarter. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on PDD. JPMorgan Chase & Co. decreased their target price on PDD from $125.00 to $105.00 and set a "neutral" rating on the stock in a research note on Wednesday. Nomura restated a "neutral" rating and issued a $130.00 price objective (down from $137.00) on shares of PDD in a research report on Thursday, March 20th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $112.00 price objective on shares of PDD in a research report on Wednesday. China Renaissance reiterated a "hold" rating and set a $107.00 price objective on shares of PDD in a research report on Wednesday. Finally, Benchmark dropped their price objective on PDD from $160.00 to $128.00 and set a "buy" rating for the company in a research note on Wednesday. Six research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, PDD presently has a consensus rating of "Moderate Buy" and a consensus target price of $144.55.

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.

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