PDD Sees Unusually Large Options Volume (NASDAQ:PDD)

PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) was the target of unusually large options trading on Thursday. Stock investors purchased 137,643 put options on the company. This is an increase of 83% compared to the average daily volume of 75,147 put options.

Institutional Investors Weigh In On PDD

Hedge funds have recently made changes to their positions in the business. Range Financial Group LLC lifted its holdings in shares of PDD by 3.8% during the 4th quarter. Range Financial Group LLC now owns 3,620 shares of the company’s stock worth $410,000 after acquiring an additional 131 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in PDD by 4,697.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 556,693 shares of the company’s stock valued at $64,437,000 after purchasing an additional 545,088 shares during the period. Hennion & Walsh Asset Management Inc. increased its position in PDD by 4.0% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 6,502 shares of the company’s stock worth $737,000 after purchasing an additional 252 shares during the last quarter. Sicart Associates LLC raised its stake in PDD by 8.7% during the fourth quarter. Sicart Associates LLC now owns 11,631 shares of the company’s stock worth $1,319,000 after purchasing an additional 931 shares during the period. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of PDD by 11.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 242,722 shares of the company’s stock valued at $27,522,000 after purchasing an additional 25,369 shares during the last quarter. Institutional investors and hedge funds own 39.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PDD. Loop Capital set a $170.00 target price on PDD in a report on Tuesday, January 6th. Wall Street Zen downgraded shares of PDD from a “buy” rating to a “hold” rating in a report on Saturday, January 3rd. Bank of America decreased their price objective on shares of PDD from $141.00 to $140.00 and set a “neutral” rating on the stock in a report on Wednesday, November 19th. Weiss Ratings restated a “hold (c+)” rating on shares of PDD in a research report on Wednesday, October 8th. Finally, Zacks Research downgraded shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 27th. Five equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $139.25.

PDD Price Performance

NASDAQ:PDD traded down $0.41 during trading hours on Thursday, reaching $107.44. 9,622,452 shares of the company traded hands, compared to its average volume of 10,926,117. The firm’s 50-day moving average is $118.01 and its 200-day moving average is $120.65. The stock has a market cap of $149.57 billion, a P/E ratio of 11.22, a P/E/G ratio of 1.05 and a beta of 0.02. PDD has a 1-year low of $87.11 and a 1-year high of $139.41.

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.