Investors Purchase Large Volume of PDD Call Options (NASDAQ:PDD)

PDD Holdings Inc. (NASDAQ:PDD) was the target of unusually large options trading activity on Friday. Investors bought 146,180 call options on the stock. This is an increase of approximately 49% compared to the typical daily volume of 97,906 call options.

PDD Price Performance

NASDAQ:PDD traded up $6.06 during mid-day trading on Friday, hitting $130.47. 11,878,877 shares of the stock traded hands, compared to its average volume of 8,545,085. The business’s 50-day moving average price is $106.54 and its 200 day moving average price is $114.17. The company has a market cap of $179.51 billion, a PE ratio of 12.75, a price-to-earnings-growth ratio of 0.32 and a beta of 0.67. PDD has a 12-month low of $88.01 and a 12-month high of $164.69. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.02.

Wall Street Analyst Weigh In

Several brokerages have commented on PDD. Benchmark lowered their price objective on shares of PDD from $185.00 to $160.00 and set a “buy” rating on the stock in a research report on Friday, November 22nd. JPMorgan Chase & Co. lowered shares of PDD from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $170.00 to $105.00 in a research report on Friday, November 22nd. Dbs Bank lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 22nd. Finally, Jefferies Financial Group lowered their price target on shares of PDD from $181.00 to $171.00 and set a “buy” rating on the stock in a research report on Thursday, November 21st. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $173.40.

Hedge Funds Weigh In On PDD

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Gordian Capital Singapore Pte Ltd grew its stake in PDD by 1,218.9% in the 3rd quarter. Gordian Capital Singapore Pte Ltd now owns 6,990 shares of the company’s stock worth $942,000 after buying an additional 6,460 shares in the last quarter. Lord Abbett & CO. LLC grew its stake in PDD by 63.9% in the 3rd quarter. Lord Abbett & CO. LLC now owns 38,235 shares of the company’s stock worth $5,155,000 after buying an additional 14,905 shares in the last quarter. BOCHK Asset Management Ltd grew its stake in PDD by 3,391.7% in the 3rd quarter. BOCHK Asset Management Ltd now owns 41,900 shares of the company’s stock worth $5,649,000 after buying an additional 40,700 shares in the last quarter. Maple Rock Capital Partners Inc. purchased a new position in PDD in the 3rd quarter worth approximately $74,221,000. Finally, M&G PLC grew its stake in PDD by 14.2% in the 3rd quarter. M&G PLC now owns 247,417 shares of the company’s stock worth $33,401,000 after buying an additional 30,817 shares in the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.

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.