PDD Sees Unusually Large Options Volume (NASDAQ:PDD)

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

Analyst Upgrades and Downgrades

Several research firms have commented on PDD. Barclays increased their target price 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. Citigroup boosted their price objective on shares of PDD from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. The Goldman Sachs Group cut shares of PDD from a “buy” rating to a “neutral” rating and set a $136.00 target price for the company. in a research report on Monday, March 11th. Benchmark increased 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. Finally, JPMorgan Chase & Co. lowered their price target on shares of PDD from $195.00 to $190.00 and set an “overweight” rating on the stock in a report on Thursday, March 21st. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $146.85.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Captrust Financial Advisors increased its holdings in PDD by 108.5% during the 1st quarter. Captrust Financial Advisors now owns 636 shares of the company’s stock worth $26,000 after purchasing an additional 331 shares during the last quarter. SRS Capital Advisors Inc. increased its position in PDD by 294.4% in the 3rd quarter. SRS Capital Advisors Inc. now owns 280 shares of the company’s stock worth $27,000 after purchasing an additional 209 shares during the last quarter. Future Financial Wealth Managment LLC bought a new stake in PDD during the 1st quarter valued at approximately $29,000. Altshuler Shaham Ltd bought a new stake in shares of PDD in the 4th quarter worth approximately $43,000. Finally, Turim 21 Investimentos Ltda. acquired a new position in shares of PDD in the 3rd quarter worth approximately $55,000. Hedge funds and other institutional investors own 29.07% of the company’s stock.

PDD Price Performance

Shares of NASDAQ PDD opened at $113.43 on Thursday. The firm’s 50 day simple moving average is $122.85 and its 200-day simple moving average is $125.66. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.93 and a quick ratio of 1.83. The stock has a market capitalization of $149.68 billion, a price-to-earnings ratio of 19.80, a PEG ratio of 0.30 and a beta of 0.67. PDD has a 12 month low of $59.67 and a 12 month high of $152.99.

PDD (NASDAQ:PDD) last announced its quarterly earnings data on Wednesday, March 20th. The company reported $2.23 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.81. The business had revenue of $12.52 billion during the quarter, compared to the consensus estimate of $11.80 billion. PDD had a return on equity of 39.10% and a net margin of 24.23%. Analysts expect that PDD will post 7.85 EPS for the current year.

About PDD

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.