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

PDD Holdings Inc. (NASDAQ:PDD) was the target of unusually large options trading on Friday. Stock investors acquired 146,180 call options on the stock. This is an increase of approximately 49% compared to the typical volume of 97,906 call options.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PDD. CWM LLC raised its position in PDD by 19.3% during the third quarter. CWM LLC now owns 1,046 shares of the company’s stock valued at $141,000 after acquiring an additional 169 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of PDD by 11.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 15,843 shares of the company’s stock valued at $2,136,000 after buying an additional 1,623 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of PDD in the third quarter valued at approximately $65,535,000. Hennion & Walsh Asset Management Inc. increased its position in shares of PDD by 11.6% in the third quarter. Hennion & Walsh Asset Management Inc. now owns 7,030 shares of the company’s stock valued at $948,000 after buying an additional 731 shares in the last quarter. Finally, IFM Investors Pty Ltd increased its position in shares of PDD by 2.7% in the third quarter. IFM Investors Pty Ltd now owns 35,898 shares of the company’s stock valued at $4,839,000 after buying an additional 947 shares in the last quarter. 39.83% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Benchmark lowered their price target on PDD from $185.00 to $160.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Dbs Bank downgraded PDD from a “strong-buy” rating to a “hold” rating in a report on Friday, November 22nd. Jefferies Financial Group lowered their price target on PDD from $181.00 to $171.00 and set a “buy” rating for the company in a report on Thursday, November 21st. Finally, JPMorgan Chase & Co. downgraded PDD from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $170.00 to $105.00 in a report on Friday, November 22nd. Three investment analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $173.40.

PDD Stock Up 5.6 %

Shares of PDD stock opened at $131.34 on Friday. The stock has a 50 day moving average of $107.12 and a 200 day moving average of $114.21. The company has a current ratio of 2.15, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. The stock has a market cap of $180.71 billion, a P/E ratio of 12.83, a P/E/G ratio of 0.32 and a beta of 0.67. PDD has a twelve month low of $88.01 and a twelve month high of $164.69.

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.