Investors Buy High Volume of Put Options on PDD (NASDAQ:PDD)

PDD Holdings Inc. (NASDAQ:PDD - Get Free Report) was the recipient of some unusual options trading activity on Thursday. Traders purchased 165,546 put options on the stock. This represents an increase of approximately 74% compared to the typical daily volume of 95,195 put options.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PDD shares. Benchmark cut their price objective on shares of PDD from $160.00 to $128.00 and set a "buy" rating on the stock in a report on Wednesday. Macquarie reiterated an "outperform" rating on shares of PDD in a research report on Tuesday. China Renaissance reiterated a "hold" rating and issued a $107.00 target price on shares of PDD in a research report on Wednesday. Nomura Securities lowered PDD from a "strong-buy" rating to a "hold" rating in a research report on Friday, March 21st. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $112.00 target price on shares of PDD in a research report on Wednesday. Seven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, PDD has an average rating of "Moderate Buy" and a consensus price target of $144.55.

Institutional Investors Weigh In On PDD

Several hedge funds have recently bought and sold shares of the stock. Strs Ohio purchased a new stake in PDD in the 1st quarter worth approximately $6,876,000. IFM Investors Pty Ltd boosted its position in PDD by 6.7% in the 1st quarter. IFM Investors Pty Ltd now owns 27,776 shares of the company's stock worth $3,287,000 after purchasing an additional 1,740 shares in the last quarter. Intech Investment Management LLC lifted its position in shares of PDD by 2.7% during the 1st quarter. Intech Investment Management LLC now owns 14,890 shares of the company's stock valued at $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% during the 1st quarter. Focus Partners Wealth now owns 9,939 shares of the company's stock valued at $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% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 8,985,969 shares of the company's stock valued at $1,063,489,000 after buying an additional 8,086,620 shares in the last quarter. Hedge funds and other institutional investors own 39.83% of the company's stock.

PDD Stock Performance

PDD stock traded down $1.56 during mid-day trading on Friday, hitting $96.73. The company had a trading volume of 17,167,316 shares, compared to its average volume of 11,108,733. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. PDD has a 12-month low of $87.11 and a 12-month high of $155.67. The company's fifty day moving average is $106.92 and its 200-day moving average is $108.76. The company has a market capitalization of $134.66 billion, a price-to-earnings ratio of 9.45, a P/E/G ratio of 0.32 and a beta of 0.57.

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.