PDD Sees Unusually Large Options Volume (NASDAQ:PDD)

PDD Holdings Inc. (NASDAQ:PDD) saw unusually large options trading activity on Thursday. Investors purchased 109,750 put options on the stock. This represents an increase of 72% compared to the average daily volume of 63,712 put options.

Institutional Trading of PDD

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Mariner LLC grew its position in shares of PDD by 1.4% during the 4th quarter. Mariner LLC now owns 9,607 shares of the company’s stock valued at $783,000 after acquiring an additional 133 shares during the period. SVB Wealth LLC boosted its holdings in shares of PDD by 4.1% during the 2nd quarter. SVB Wealth LLC now owns 3,633 shares of the company’s stock worth $251,000 after purchasing an additional 143 shares during the last quarter. Cerity Partners LLC boosted its holdings in shares of PDD by 3.2% during the 4th quarter. Cerity Partners LLC now owns 4,912 shares of the company’s stock worth $401,000 after purchasing an additional 152 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of PDD by 5.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,962 shares of the company’s stock valued at $242,000 after purchasing an additional 158 shares during the last quarter. Finally, Bleakley Financial Group LLC increased its holdings in shares of PDD by 3.6% in the first quarter. Bleakley Financial Group LLC now owns 4,640 shares of the company’s stock valued at $352,000 after purchasing an additional 160 shares during the last quarter. Institutional investors and hedge funds own 31.08% of the company’s stock.

PDD Stock Down 4.9 %

NASDAQ:PDD opened at $96.61 on Friday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.91 and a quick ratio of 1.94. PDD has a 1-year low of $38.80 and a 1-year high of $106.38. The company has a 50-day moving average of $82.45 and a 200 day moving average of $77.02. The firm has a market cap of $127.49 billion, a PE ratio of 23.97, a price-to-earnings-growth ratio of 0.96 and a beta of 0.77.

PDD (NASDAQ:PDD) last announced its earnings results on Tuesday, August 29th. The company reported $10.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.30 by $3.17. PDD had a return on equity of 33.87% and a net margin of 24.93%. The business had revenue of $52.28 billion for the quarter, compared to analysts’ expectations of $43.39 billion. During the same quarter last year, the firm earned $0.93 EPS. The business’s revenue for the quarter was up 66.3% on a year-over-year basis. As a group, research analysts anticipate that PDD will post 4.09 EPS for the current fiscal year.

Analyst Ratings Changes

PDD has been the topic of a number of recent analyst reports. Bank of America lifted their price objective on PDD from $97.00 to $112.00 and gave the stock a “buy” rating in a research report on Tuesday, August 29th. Sanford C. Bernstein raised their target price on PDD from $105.00 to $120.00 and gave the company an “outperform” rating in a research note on Wednesday, August 30th. The Goldman Sachs Group raised PDD from a “neutral” rating to a “buy” rating and upped their price target for the stock from $99.00 to $129.00 in a research note on Wednesday, August 30th. Benchmark raised their price objective on PDD from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Wednesday, August 30th. Finally, Nomura boosted their price objective on shares of PDD from $105.00 to $110.00 in a research note on Monday, May 29th. Twelve investment analysts have rated the stock with a buy rating, According to data from MarketBeat, PDD presently has a consensus rating of “Buy” and an average target price of $117.75.

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.