PDD Sees Unusually Large Options Volume (NASDAQ:PDD)

PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) was the target of some unusual options trading activity on Thursday. Traders purchased 154,790 put options on the stock. This represents an increase of approximately 134% compared to the average volume of 66,172 put options.

Hedge Funds Weigh In On PDD

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of PDD by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 32,810,630 shares of the company’s stock valued at $3,720,397,000 after purchasing an additional 425,908 shares during the period. Norges Bank acquired a new stake in shares of PDD in the fourth quarter valued at $1,065,446,000. Sanders Capital LLC grew its holdings in PDD by 21.5% during the 2nd quarter. Sanders Capital LLC now owns 8,526,610 shares of the company’s stock worth $892,395,000 after acquiring an additional 1,508,445 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of PDD by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 6,759,780 shares of the company’s stock worth $761,720,000 after acquiring an additional 359,921 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of PDD by 305.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 6,728,909 shares of the company’s stock valued at $762,991,000 after buying an additional 5,070,827 shares during the last quarter. 39.83% of the stock is currently owned by institutional investors and hedge funds.

PDD Stock Down 0.9%

Shares of PDD stock opened at $101.95 on Friday. The firm has a market cap of $141.93 billion and a PE ratio of 10.64. The business has a 50-day moving average price of $108.71 and a 200 day moving average price of $119.64. PDD has a twelve month low of $87.11 and a twelve month high of $139.41.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Arete Research set a $130.00 price target on PDD in a research note on Tuesday, December 9th. Morgan Stanley set a $148.00 target price on shares of PDD in a report on Thursday, January 15th. Loop Capital set a $170.00 price objective on shares of PDD in a research report on Tuesday, January 6th. Sanford C. Bernstein set a $135.00 price objective on PDD in a report on Tuesday, November 18th. Finally, Wall Street Zen lowered PDD from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Four equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, PDD has a consensus rating of “Hold” and a consensus price target of $139.87.

PDD Company Profile

PDD (NASDAQ: PDD) is the holding company best known for operating Pinduoduo, a China-based, mobile-first e-commerce platform that emphasizes interactive, social shopping and group-buying mechanics to drive user engagement and low prices. Founded in 2015 by entrepreneur Colin Huang, the business has grown by connecting consumers directly with merchants and manufacturers, with particular emphasis on value-oriented goods and fresh agricultural produce. The company is based in Shanghai and completed a U.S.