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

PDD Holdings Inc. (NASDAQ:PDD - Get Free Report) saw unusually large options trading on Wednesday. Traders acquired 121,801 put options on the company. This is an increase of approximately 38% compared to the typical volume of 88,242 put options.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Nisa Investment Advisors LLC acquired a new stake in PDD during the 4th quarter worth approximately $39,000. Brooklyn Investment Group increased its holdings in PDD by 340.3% in the fourth quarter. Brooklyn Investment Group now owns 524 shares of the company's stock valued at $51,000 after purchasing an additional 405 shares during the period. Global Retirement Partners LLC raised its position in PDD by 939.6% during the 4th quarter. Global Retirement Partners LLC now owns 551 shares of the company's stock worth $53,000 after purchasing an additional 498 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in PDD by 30.9% during the 4th quarter. Farther Finance Advisors LLC now owns 559 shares of the company's stock worth $54,000 after buying an additional 132 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in shares of PDD by 43.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 825 shares of the company's stock valued at $80,000 after buying an additional 249 shares during the last quarter. 39.83% of the stock is currently owned by institutional investors.

PDD Price Performance

NASDAQ:PDD traded up $4.28 on Monday, hitting $94.78. The company had a trading volume of 20,220,721 shares, compared to its average volume of 11,233,703. The firm has a 50 day moving average of $116.61 and a two-hundred day moving average of $114.28. The stock has a market capitalization of $130.41 billion, a price-to-earnings ratio of 9.26, a PEG ratio of 0.32 and a beta of 0.73. PDD has a 52 week low of $87.11 and a 52 week high of $164.69. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02.

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Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Benchmark reissued a "buy" rating and issued a $160.00 price objective on shares of PDD in a report on Friday, March 21st. Jefferies Financial Group reduced their price target on PDD from $171.00 to $156.00 and set a "buy" rating on the stock in a research report on Thursday, March 20th. Nomura reaffirmed a "neutral" rating and issued a $130.00 price objective (down from $137.00) on shares of PDD in a report on Thursday, March 20th. Citigroup reissued a "neutral" rating on shares of PDD in a report on Thursday, March 20th. Finally, Nomura Securities downgraded PDD from a "strong-buy" rating to a "hold" rating in a research note on Friday, March 21st. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, PDD currently has a consensus rating of "Moderate Buy" and an average target price of $169.91.

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.