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

PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) was the target of some unusual options trading on Wednesday. Stock investors bought 98,707 call options on the company. This is an increase of approximately 59% compared to the average volume of 62,129 call options.

PDD Stock Down 3.3%

PDD opened at $97.43 on Friday. The stock’s 50 day moving average price is $104.49 and its two-hundred day moving average price is $117.51. The firm has a market capitalization of $135.64 billion, a P/E ratio of 10.17, a price-to-earnings-growth ratio of 0.89 and a beta of -0.01. PDD has a 12-month low of $87.11 and a 12-month high of $139.41.

Hedge Funds Weigh In On PDD

Institutional investors and hedge funds have recently bought and sold shares of the stock. Focus Partners Wealth boosted its holdings in PDD by 352.8% in the 1st quarter. Focus Partners Wealth now owns 9,939 shares of the company’s stock valued at $1,176,000 after purchasing an additional 7,744 shares during the period. Intech Investment Management LLC increased its holdings in shares of PDD by 2.7% during the 1st quarter. Intech Investment Management LLC now owns 14,890 shares of the company’s stock worth $1,762,000 after purchasing an additional 395 shares during the period. Envestnet Asset Management Inc. raised its position in shares of PDD by 6.1% during the second quarter. Envestnet Asset Management Inc. now owns 20,559 shares of the company’s stock valued at $2,152,000 after buying an additional 1,186 shares during the last quarter. Savant Capital LLC lifted its stake in shares of PDD by 65.1% in the second quarter. Savant Capital LLC now owns 2,928 shares of the company’s stock valued at $306,000 after buying an additional 1,155 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its holdings in PDD by 27.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,381,299 shares of the company’s stock valued at $144,567,000 after acquiring an additional 296,320 shares in the last quarter. Institutional investors own 39.83% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PDD shares. Morgan Stanley set a $148.00 target price on PDD in a report on Thursday, January 15th. Arete Research set a $130.00 price target on PDD in a report on Tuesday, December 9th. Citigroup restated a “neutral” rating on shares of PDD in a research note on Wednesday, January 28th. Wall Street Zen downgraded shares of PDD from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Finally, Loop Capital set a $170.00 target price on shares of PDD in a research note on Tuesday, January 6th. Four research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $140.57.

About PDD

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.