PDD Sees Unusually Large Options Volume (NASDAQ:PDD)

PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) was the target of unusually large options trading on Thursday. Traders acquired 137,643 put options on the company. This is an increase of approximately 83% compared to the typical daily volume of 75,147 put options.

PDD Stock Down 0.6%

Shares of PDD stock opened at $106.78 on Friday. PDD has a 52 week low of $87.11 and a 52 week high of $139.41. The firm’s 50 day moving average is $116.84 and its two-hundred day moving average is $120.57. The firm has a market capitalization of $148.66 billion, a P/E ratio of 11.15, a P/E/G ratio of 1.00 and a beta of 0.02.

Wall Street Analyst Weigh In

PDD has been the subject of a number of recent research reports. Morgan Stanley set a $148.00 target price on PDD in a report on Thursday. Arete lowered PDD from a “buy” rating to a “neutral” rating and set a $130.00 price target on the stock. in a research report on Tuesday, December 9th. Sanford C. Bernstein set a $135.00 price objective on PDD in a research note on Tuesday, November 18th. Wall Street Zen downgraded PDD from a “buy” rating to a “hold” rating in a research report on Saturday, January 3rd. Finally, Zacks Research cut shares of PDD from a “strong-buy” rating to a “hold” rating in a report on Monday, October 27th. Five research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $139.25.

Institutional Investors Weigh In On PDD

A number of institutional investors and hedge funds have recently bought and sold shares of PDD. Focus Financial Network Inc. grew its holdings in shares of PDD by 4.3% during the second quarter. Focus Financial Network Inc. now owns 2,376 shares of the company’s stock worth $249,000 after purchasing an additional 97 shares during the last quarter. Gunderson Capital Management Inc. boosted its position in shares of PDD by 5.5% in the 2nd quarter. Gunderson Capital Management Inc. now owns 1,944 shares of the company’s stock valued at $203,000 after purchasing an additional 101 shares during the period. Advisory Services Network LLC grew its stake in PDD by 0.7% during the 3rd quarter. Advisory Services Network LLC now owns 15,458 shares of the company’s stock worth $2,043,000 after buying an additional 102 shares during the last quarter. West Family Investments Inc. increased its position in PDD by 2.8% during the third quarter. West Family Investments Inc. now owns 4,026 shares of the company’s stock worth $532,000 after buying an additional 110 shares during the period. Finally, Lido Advisors LLC increased its position in PDD by 4.6% during the second quarter. Lido Advisors LLC now owns 2,633 shares of the company’s stock worth $276,000 after buying an additional 115 shares during the period. 39.83% of the stock is owned by hedge funds and other institutional investors.

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.