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

PDD Holdings Inc. (NASDAQ:PDD) saw some unusual options trading activity on Thursday. Stock investors acquired 167,481 put options on the stock. This is an increase of 61% compared to the typical daily volume of 104,304 put options.

Wall Street Analyst Weigh In

PDD has been the subject of several research reports. Sanford C. Bernstein dropped their price target on PDD from $235.00 to $170.00 and set an “outperform” rating for the company in a report on Tuesday, August 27th. Benchmark dropped their price objective on shares of PDD from $230.00 to $185.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Barclays decreased their target price on shares of PDD from $224.00 to $158.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 27th. UBS Group upped their price objective on shares of PDD from $248.00 to $272.00 and gave the stock a “buy” rating in a research report on Wednesday, May 22nd. Finally, Nomura Securities upgraded shares of PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $177.78.

PDD Stock Performance

Shares of PDD opened at $92.68 on Friday. The stock has a 50 day moving average of $128.83 and a 200 day moving average of $130.82. The company has a market capitalization of $127.52 billion, a price-to-earnings ratio of 12.28, a PEG ratio of 0.23 and a beta of 0.69. PDD has a 12 month low of $88.01 and a 12 month high of $164.69. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.02.

PDD (NASDAQ:PDD) last posted its quarterly earnings data on Monday, August 26th. The company reported $23.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.66 by $20.58. The business had revenue of $97.06 billion during the quarter, compared to the consensus estimate of $100.17 billion. PDD had a net margin of 28.92% and a return on equity of 48.14%. The firm’s quarterly revenue was up 85.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.27 earnings per share. As a group, sell-side analysts forecast that PDD will post 11.21 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Johnson Investment Counsel Inc. boosted its position in PDD by 2.4% during the fourth quarter. Johnson Investment Counsel Inc. now owns 3,278 shares of the company’s stock worth $480,000 after purchasing an additional 78 shares during the period. Checchi Capital Advisers LLC grew its stake in PDD by 2.6% in the 1st quarter. Checchi Capital Advisers LLC now owns 3,823 shares of the company’s stock valued at $444,000 after buying an additional 98 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in PDD by 31.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 427 shares of the company’s stock valued at $62,000 after buying an additional 101 shares in the last quarter. Ballentine Partners LLC raised its holdings in PDD by 4.6% during the 2nd quarter. Ballentine Partners LLC now owns 2,701 shares of the company’s stock valued at $359,000 after acquiring an additional 120 shares during the period. Finally, Parallel Advisors LLC lifted its position in shares of PDD by 5.3% during the second quarter. Parallel Advisors LLC now owns 2,436 shares of the company’s stock worth $324,000 after acquiring an additional 122 shares in the last quarter. Institutional investors own 29.07% of the company’s stock.

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.