Stock Traders Buy Large Volume of PDD Call Options (NASDAQ:PDD)

PDD Holdings Inc. (NASDAQ:PDD) was the target of unusually large options trading activity on Monday. Investors bought 225,635 call options on the stock. This is an increase of approximately 38% compared to the average daily volume of 163,825 call options.

PDD Price Performance

Shares of NASDAQ:PDD opened at $104.49 on Wednesday. The firm has a 50 day moving average of $120.76 and a 200-day moving average of $126.29. PDD has a 12 month low of $88.01 and a 12 month high of $164.69. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $143.76 billion, a PE ratio of 10.20, a PEG ratio of 0.29 and a beta of 0.67.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Barclays dropped their price target on PDD from $224.00 to $158.00 and set an “overweight” rating for the company in a report on Tuesday, August 27th. Citigroup cut shares of PDD from a “buy” rating to a “neutral” rating and reduced their target price for the company from $194.00 to $120.00 in a research report on Tuesday, August 27th. JPMorgan Chase & Co. downgraded shares of PDD from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $170.00 to $105.00 in a research note on Friday, November 22nd. Sanford C. Bernstein dropped their price objective on shares of PDD from $235.00 to $170.00 and set an “outperform” rating for the company in a research note on Tuesday, August 27th. Finally, Jefferies Financial Group decreased their target price on shares of PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $173.40.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PDD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of PDD by 1,374.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,145,211 shares of the company’s stock valued at $1,772,106,000 after purchasing an additional 12,253,589 shares during the last quarter. H&H International Investment LLC boosted its position in PDD by 3,693.8% in the third quarter. H&H International Investment LLC now owns 3,907,600 shares of the company’s stock valued at $526,784,000 after buying an additional 3,804,600 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of PDD by 107.8% during the second quarter. Acadian Asset Management LLC now owns 3,670,799 shares of the company’s stock worth $487,984,000 after buying an additional 1,904,155 shares during the last quarter. Tairen Capital Ltd increased its holdings in shares of PDD by 49.8% during the second quarter. Tairen Capital Ltd now owns 5,378,376 shares of the company’s stock worth $715,055,000 after buying an additional 1,788,076 shares in the last quarter. Finally, FMR LLC lifted its stake in shares of PDD by 8.6% in the 3rd quarter. FMR LLC now owns 20,930,161 shares of the company’s stock valued at $2,821,595,000 after acquiring an additional 1,654,764 shares during the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.

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.