PDD Sees Unusually High Options Volume (NASDAQ:PDD)

PDD Holdings Inc. (NASDAQ:PDD - Get Free Report) was the recipient of unusually large options trading on Thursday. Stock investors bought 165,546 put options on the stock. This represents an increase of 74% compared to the typical volume of 95,195 put options.

Hedge Funds Weigh In On PDD

Several institutional investors have recently bought and sold shares of the stock. Baillie Gifford & Co. increased its stake in shares of PDD by 5.2% in the first quarter. Baillie Gifford & Co. now owns 40,047,278 shares of the company's stock worth $4,739,595,000 after purchasing an additional 1,987,935 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of PDD by 9,469.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,678,479 shares of the company's stock worth $4,695,948,000 after acquiring an additional 39,263,851 shares in the last quarter. Vanguard Group Inc. raised its position in PDD by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 29,079,476 shares of the company's stock worth $3,441,556,000 after purchasing an additional 416,867 shares during the last quarter. FMR LLC raised its position in PDD by 22.3% in the 4th quarter. FMR LLC now owns 25,603,183 shares of the company's stock worth $2,483,253,000 after purchasing an additional 4,673,022 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd raised its position in shares of PDD by 4,562.1% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 14,419,327 shares of the company's stock valued at $1,706,527,000 after acquiring an additional 14,110,042 shares during the last quarter. 39.83% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on PDD shares. Macquarie restated an "outperform" rating on shares of PDD in a report on Tuesday, May 27th. Barclays lowered PDD from a "strong-buy" rating to a "hold" rating in a research note on Sunday. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $112.00 price target on shares of PDD in a research report on Wednesday, May 28th. Nomura Securities downgraded PDD from a "strong-buy" rating to a "hold" rating in a report on Friday, March 21st. Finally, Citigroup upgraded PDD from a "neutral" rating to a "buy" rating and increased their price objective for the company from $127.00 to $165.00 in a report on Monday, May 12th. Seven investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $144.55.

PDD Stock Up 2.0%

Shares of PDD stock traded up $1.89 during midday trading on Tuesday, hitting $98.33. The company's stock had a trading volume of 7,562,669 shares, compared to its average volume of 11,085,428. The firm has a market capitalization of $136.89 billion, a P/E ratio of 9.60, a PEG ratio of 0.32 and a beta of 0.57. The stock has a 50-day simple moving average of $106.40 and a 200-day simple moving average of $108.61. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02. PDD has a 1-year low of $87.11 and a 1-year high of $155.67.

About PDD

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.