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

PDD Holdings Inc. (NASDAQ:PDD) saw some unusual options trading activity on Thursday. Traders bought 172,702 call options on the company. This is an increase of 44% compared to the typical daily volume of 119,893 call options.

Institutional Investors Weigh In On PDD

Institutional investors and hedge funds have recently made changes to their positions in the business. Los Angeles Capital Management LLC boosted its stake in PDD by 149.0% during the 1st quarter. Los Angeles Capital Management LLC now owns 296,786 shares of the company’s stock valued at $34,501,000 after purchasing an additional 177,600 shares during the last quarter. Hhlr Advisors LTD. lifted its holdings in shares of PDD by 37.5% in the fourth quarter. Hhlr Advisors LTD. now owns 10,110,947 shares of the company’s stock valued at $1,479,333,000 after purchasing an additional 2,760,100 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of PDD by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 24,163,927 shares of the company’s stock valued at $3,535,424,000 after buying an additional 62,312 shares during the last quarter. Jupiter Asset Management Ltd. grew its holdings in PDD by 63.7% during the second quarter. Jupiter Asset Management Ltd. now owns 230,917 shares of the company’s stock worth $30,700,000 after buying an additional 89,853 shares in the last quarter. Finally, Connectus Wealth LLC raised its position in PDD by 9.4% in the 4th quarter. Connectus Wealth LLC now owns 6,852 shares of the company’s stock valued at $1,003,000 after buying an additional 590 shares during the last quarter. Institutional investors and hedge funds own 29.07% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on PDD shares. Barclays lowered their target price on shares of PDD from $224.00 to $158.00 and set an “overweight” rating for the company in a research note on Tuesday, August 27th. Jefferies Financial Group lowered their price objective on PDD from $193.00 to $151.00 and set a “buy” rating for the company in a research report on Monday, August 26th. Benchmark cut their target price on PDD from $230.00 to $185.00 and set a “buy” rating on the stock in a research report on Tuesday, August 27th. Citigroup downgraded PDD from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $194.00 to $120.00 in a report on Tuesday, August 27th. Finally, Daiwa America raised PDD to a “strong-buy” rating in a research note on Tuesday, August 27th. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $177.78.

PDD Trading Up 13.6 %

Shares of PDD stock opened at $129.40 on Friday. The stock has a market capitalization of $178.04 billion, a PE ratio of 17.14, a price-to-earnings-growth ratio of 0.25 and a beta of 0.69. PDD has a 52 week low of $88.01 and a 52 week high of $164.69. The stock has a 50 day moving average price of $118.46 and a two-hundred day moving average price of $128.35. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.11 and a current ratio of 2.11.

PDD (NASDAQ:PDD) last announced its quarterly earnings results on Monday, August 26th. The company reported $23.24 EPS for the quarter, beating analysts’ consensus estimates of $2.66 by $20.58. PDD had a net margin of 28.92% and a return on equity of 48.14%. The business had revenue of $97.06 billion during the quarter, compared to analyst estimates of $100.17 billion. During the same quarter in the previous year, the business posted $1.27 EPS. PDD’s quarterly revenue was up 85.7% on a year-over-year basis. As a group, equities analysts anticipate that PDD will post 11.05 earnings per share for the current fiscal year.

PDD Company Profile

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.