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

PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) saw some unusual options trading activity on Thursday. Investors purchased 154,790 put options on the stock. This is an increase of 134% compared to the typical daily volume of 66,172 put options.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PDD shares. Zacks Research lowered shares of PDD from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 27th. Arete Research set a $130.00 price objective on shares of PDD in a research report on Tuesday, December 9th. Citigroup reaffirmed a “neutral” rating on shares of PDD in a research report on Wednesday, January 28th. Bank of America decreased their price target on PDD from $141.00 to $140.00 and set a “neutral” rating for the company in a report on Wednesday, November 19th. Finally, Morgan Stanley set a $148.00 price objective on PDD in a research note on Thursday, January 15th. Four equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat.com, PDD has a consensus rating of “Hold” and an average price target of $139.87.

PDD Stock Performance

Shares of PDD stock traded down $0.97 during trading hours on Thursday, reaching $101.95. The company’s stock had a trading volume of 4,872,605 shares, compared to its average volume of 8,957,957. The stock’s fifty day simple moving average is $108.91 and its two-hundred day simple moving average is $119.76. The company has a market capitalization of $141.93 billion and a P/E ratio of 10.64. PDD has a one year low of $87.11 and a one year high of $139.41.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. TB Alternative Assets Ltd. lifted its holdings in PDD by 62.5% during the third quarter. TB Alternative Assets Ltd. now owns 345,888 shares of the company’s stock valued at $45,716,000 after purchasing an additional 133,000 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in PDD by 17.3% in the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 368,564 shares of the company’s stock worth $48,694,000 after buying an additional 54,418 shares during the period. Campbell & CO Investment Adviser LLC purchased a new position in PDD in the 3rd quarter valued at approximately $2,790,000. Nomura Holdings Inc. raised its holdings in PDD by 67.1% during the 2nd quarter. Nomura Holdings Inc. now owns 173,637 shares of the company’s stock valued at $18,173,000 after acquiring an additional 69,728 shares during the period. Finally, Freemont Capital Pte Ltd lifted its position in shares of PDD by 19.2% during the second quarter. Freemont Capital Pte Ltd now owns 31,000 shares of the company’s stock worth $3,244,000 after acquiring an additional 5,000 shares in the last quarter. Hedge funds and other institutional investors own 39.83% of the company’s stock.

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.