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

PDD Holdings Inc. (NASDAQ:PDD) saw some unusual options trading activity on Friday. Investors purchased 146,180 call options on the company. This is an increase of approximately 49% compared to the typical volume of 97,906 call options.

PDD Trading Up 4.9 %

NASDAQ:PDD traded up $6.06 during midday trading on Friday, reaching $130.47. 11,878,877 shares of the stock traded hands, compared to its average volume of 8,545,085. The company has a fifty day moving average of $106.54 and a 200 day moving average of $114.17. PDD has a 12 month low of $88.01 and a 12 month high of $164.69. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.15. The stock has a market capitalization of $179.51 billion, a P/E ratio of 12.75, a PEG ratio of 0.32 and a beta of 0.67.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut shares of PDD from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $170.00 to $105.00 in a research note on Friday, November 22nd. Dbs Bank cut shares of PDD from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 22nd. Jefferies Financial Group cut their price objective on shares of PDD from $181.00 to $171.00 and set a “buy” rating for the company in a research note on Thursday, November 21st. Finally, Benchmark cut their price objective on shares of PDD from $185.00 to $160.00 and set a “buy” rating for the company in a research note on Friday, November 22nd. Three equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $173.40.

Institutional Investors Weigh In On PDD

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PDD. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in PDD by 1,374.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 13,145,211 shares of the company’s stock worth $1,772,106,000 after purchasing an additional 12,253,589 shares in the last quarter. Norges Bank bought a new position in PDD in the 4th quarter worth $812,246,000. Sanders Capital LLC bought a new position in PDD in the 4th quarter worth $499,972,000. FMR LLC raised its holdings in PDD by 22.3% in the 4th quarter. FMR LLC now owns 25,603,183 shares of the company’s stock worth $2,483,253,000 after purchasing an additional 4,673,022 shares in the last quarter. Finally, H&H International Investment LLC raised its holdings in PDD by 3,693.8% in the 3rd quarter. H&H International Investment LLC now owns 3,907,600 shares of the company’s stock worth $526,784,000 after purchasing an additional 3,804,600 shares in the last quarter. 39.83% of the stock is currently owned by institutional investors.

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.