PDD Sees Unusually Large Options Volume (NASDAQ:PDD)

PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) was the target of some unusual options trading activity on Tuesday. Stock traders acquired 70,014 call options on the company. This is an increase of 19% compared to the average daily volume of 58,593 call options.

PDD Trading Up 3.1%

PDD stock traded up $2.93 during mid-day trading on Tuesday, hitting $97.45. 5,390,822 shares of the company were exchanged, compared to its average volume of 7,721,801. The company has a market capitalization of $138.71 billion, a PE ratio of 10.37, a price-to-earnings-growth ratio of 0.89 and a beta of 0.04. PDD has a twelve month low of $92.57 and a twelve month high of $139.41. The firm has a fifty day simple moving average of $99.59 and a 200 day simple moving average of $107.55.

Wall Street Analyst Weigh In

PDD has been the subject of a number of recent analyst reports. Nomura raised shares of PDD from a “neutral” rating to a “buy” rating and set a $136.00 price target for the company in a report on Friday, March 27th. Citigroup reaffirmed a “neutral” rating on shares of PDD in a report on Wednesday, January 28th. Arete Research raised shares of PDD from a “neutral” rating to a “buy” rating and set a $121.00 price target for the company in a report on Friday, April 17th. Finally, Wall Street Zen lowered shares of PDD from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Six investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $137.86.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PDD. Norges Bank acquired a new position in PDD during the 4th quarter worth $1,065,446,000. H&H International Investment LLC grew its holdings in PDD by 71.2% during the 1st quarter. H&H International Investment LLC now owns 19,748,294 shares of the company’s stock worth $2,017,881,000 after acquiring an additional 8,211,600 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in PDD by 305.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 6,728,909 shares of the company’s stock worth $762,991,000 after acquiring an additional 5,070,827 shares in the last quarter. Himalaya Capital Management LLC acquired a new position in PDD during the 2nd quarter worth $482,273,000. Finally, Dodge & Cox acquired a new position in PDD during the 4th quarter worth $503,429,000. 39.83% of the stock is owned by institutional investors and hedge funds.

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.