PDD Sees Unusually Large Options Volume (NASDAQ:PDD)

PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) was the recipient of some unusual options trading activity on Wednesday. Stock traders acquired 98,707 call options on the company. This is an increase of 59% compared to the typical daily volume of 62,129 call options.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Morgan Stanley set a $148.00 target price on shares of PDD in a research report on Thursday, January 15th. Loop Capital set a $170.00 price target on PDD in a research note on Tuesday, January 6th. Arete Research set a $130.00 price objective on PDD in a report on Tuesday, December 9th. Bank of America lowered their price objective on PDD from $141.00 to $140.00 and set a “neutral” rating for the company in a research note on Wednesday, November 19th. Finally, Citigroup restated a “neutral” rating on shares of PDD in a report on Wednesday, January 28th. Four analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $139.87.

Institutional Trading of PDD

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

PDD Stock Down 3.5%

PDD stock traded down $3.65 during trading on Wednesday, reaching $100.72. The stock had a trading volume of 7,606,711 shares, compared to its average volume of 7,934,839. PDD has a one year low of $87.11 and a one year high of $139.41. The company’s 50 day moving average is $105.38 and its two-hundred day moving average is $117.77. The company has a market capitalization of $140.22 billion, a price-to-earnings ratio of 10.51, a P/E/G ratio of 0.92 and a beta of -0.01.

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.