Traders Purchase Large Volume of Call Options on PDD (NASDAQ:PDD)

PDD Holdings Inc. (NASDAQ:PDD) was the recipient of some unusual options trading activity on Wednesday. Investors purchased 126,587 call options on the company. This is an increase of approximately 35% compared to the average volume of 93,926 call options.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $112.00 price target on shares of PDD in a report on Wednesday. China Renaissance reaffirmed a “hold” rating and set a $107.00 price target on shares of PDD in a report on Wednesday. Jefferies Financial Group dropped their price target on shares of PDD from $156.00 to $121.00 and set a “buy” rating on the stock in a report on Tuesday. Citigroup raised shares of PDD from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $127.00 to $165.00 in a report on Monday, May 12th. Finally, Benchmark dropped their price objective on shares of PDD from $160.00 to $128.00 and set a “buy” rating on the stock in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $144.55.

PDD Price Performance

Shares of NASDAQ:PDD opened at $97.88 on Thursday. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.15 and a quick ratio of 2.15. PDD has a 1-year low of $87.11 and a 1-year high of $155.67. The company has a market capitalization of $136.26 billion, a P/E ratio of 9.56, a P/E/G ratio of 0.32 and a beta of 0.57. The firm’s 50 day simple moving average is $108.09 and its two-hundred day simple moving average is $109.04.

Hedge Funds Weigh In On PDD

Several hedge funds have recently modified their holdings of the stock. Jones Financial Companies Lllp lifted its holdings in shares of PDD by 8.7% in the fourth quarter. Jones Financial Companies Lllp now owns 1,215 shares of the company’s stock worth $118,000 after buying an additional 97 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of PDD by 1.3% in the first quarter. Signaturefd LLC now owns 8,957 shares of the company’s stock worth $1,060,000 after buying an additional 119 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of PDD by 30.9% in the fourth quarter. Farther Finance Advisors LLC now owns 559 shares of the company’s stock worth $54,000 after buying an additional 132 shares in the last quarter. Focus Financial Network Inc. lifted its holdings in shares of PDD by 6.3% in the first quarter. Focus Financial Network Inc. now owns 2,279 shares of the company’s stock worth $270,000 after buying an additional 136 shares in the last quarter. Finally, New York Life Investment Management LLC lifted its holdings in shares of PDD by 5.8% in the fourth quarter. New York Life Investment Management LLC now owns 2,528 shares of the company’s stock worth $245,000 after buying an additional 139 shares in the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.

About PDD

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.