PDD Sees Unusually High Options Volume (NASDAQ:PDD)

PDD Holdings Inc. (NASDAQ:PDD) was the target of some unusual options trading activity on Wednesday. Investors acquired 132,077 put options on the stock. This represents an increase of 133% compared to the average daily volume of 56,699 put options.

PDD Stock Down 0.1 %

Shares of NASDAQ PDD opened at $113.43 on Thursday. The company has a 50 day simple moving average of $122.85 and a 200 day simple moving average of $125.66. The firm has a market cap of $149.68 billion, a PE ratio of 19.80, a price-to-earnings-growth ratio of 0.30 and a beta of 0.67. PDD has a 1 year low of $59.67 and a 1 year high of $152.99. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.93 and a quick ratio of 1.83.

PDD (NASDAQ:PDD) last released its quarterly earnings results on Wednesday, March 20th. The company reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.42 by $0.81. The firm had revenue of $12.52 billion during the quarter, compared to analyst estimates of $11.80 billion. PDD had a net margin of 24.23% and a return on equity of 39.10%. On average, research analysts forecast that PDD will post 7.85 EPS for the current year.

Analyst Ratings Changes

PDD has been the topic of several recent analyst reports. Citigroup upped their price target on shares of PDD from $170.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Benchmark raised their price objective on shares of PDD from $215.00 to $220.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. Jefferies Financial Group raised their price target on shares of PDD from $157.00 to $161.00 and gave the company a “buy” rating in a report on Thursday, March 21st. Barclays raised their price target on shares of PDD from $164.00 to $178.00 and gave the stock an “overweight” rating in a research report on Thursday, March 21st. Finally, The Goldman Sachs Group downgraded shares of PDD from a “buy” rating to a “neutral” rating and set a $136.00 price target for the company. in a report on Monday, March 11th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $146.85.

Institutional Trading of PDD

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. SC US Ttgp LTD. lifted its holdings in PDD by 1,414.4% during the third quarter. SC US Ttgp LTD. now owns 48,233,322 shares of the company’s stock valued at $4,730,242,000 after purchasing an additional 45,048,300 shares during the last quarter. Norges Bank bought a new position in PDD during the fourth quarter valued at approximately $1,075,172,000. Vanguard Group Inc. grew its position in PDD by 38.0% during the third quarter. Vanguard Group Inc. now owns 24,101,615 shares of the company’s stock valued at $2,363,645,000 after acquiring an additional 6,637,418 shares during the last quarter. Baillie Gifford & Co. grew its holdings in shares of PDD by 14.4% in the third quarter. Baillie Gifford & Co. now owns 35,668,170 shares of the company’s stock worth $3,497,977,000 after purchasing an additional 4,501,126 shares during the last quarter. Finally, FMR LLC grew its holdings in shares of PDD by 32.6% in the third quarter. FMR LLC now owns 17,635,104 shares of the company’s stock worth $1,729,475,000 after purchasing an additional 4,334,186 shares during 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.