Investors Purchase High Volume of PDD Put Options (NASDAQ:PDD)

PDD Holdings Inc. (NASDAQ:PDD) saw unusually large options trading on Wednesday. Stock traders acquired 132,077 put options on the stock. This is an increase of approximately 133% compared to the average daily volume of 56,699 put options.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on PDD shares. Benchmark lifted their price objective on PDD from $215.00 to $220.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. JPMorgan Chase & Co. lowered their price objective on PDD from $195.00 to $190.00 and set an “overweight” rating for the company in a research report on Thursday, March 21st. Jefferies Financial Group lifted their price objective on PDD from $157.00 to $161.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Barclays lifted their price objective on PDD from $164.00 to $178.00 and gave the company an “overweight” rating in a research report on Thursday, March 21st. Finally, The Goldman Sachs Group downgraded PDD from a “buy” rating to a “neutral” rating and set a $136.00 price objective for the company. in a research report on Monday, March 11th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $146.85.

Hedge Funds Weigh In On PDD

Hedge funds and other institutional investors have recently made changes to their positions in the business. SC US Ttgp LTD. lifted its position in PDD by 1,414.4% in the third quarter. SC US Ttgp LTD. now owns 48,233,322 shares of the company’s stock worth $4,730,242,000 after purchasing an additional 45,048,300 shares during the period. Baillie Gifford & Co. lifted its position in shares of PDD by 6.4% during the 4th quarter. Baillie Gifford & Co. now owns 37,960,238 shares of the company’s stock valued at $5,553,962,000 after acquiring an additional 2,292,068 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of PDD by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 24,163,927 shares of the company’s stock valued at $3,535,424,000 after acquiring an additional 62,312 shares during the last quarter. FMR LLC lifted its position in shares of PDD by 32.6% during the 3rd quarter. FMR LLC now owns 17,635,104 shares of the company’s stock valued at $1,729,475,000 after acquiring an additional 4,334,186 shares during the last quarter. Finally, Hhlr Advisors LTD. lifted its position in shares of PDD by 37.5% during the 4th quarter. Hhlr Advisors LTD. now owns 10,110,947 shares of the company’s stock valued at $1,479,333,000 after acquiring an additional 2,760,100 shares during the last quarter. 29.07% of the stock is currently owned by institutional investors and hedge funds.

PDD Stock Down 0.1 %

PDD stock traded down $0.09 during midday trading on Wednesday, hitting $113.43. The stock had a trading volume of 4,319,281 shares, compared to its average volume of 8,259,936. The company has a current ratio of 1.93, a quick ratio of 1.83 and a debt-to-equity ratio of 0.03. The stock has a market cap of $149.68 billion, a P/E ratio of 19.76, a P/E/G ratio of 0.30 and a beta of 0.67. PDD has a 12 month low of $59.67 and a 12 month high of $152.99. The business has a fifty day moving average price of $123.16 and a 200 day moving average price of $125.74.

PDD (NASDAQ:PDD) last posted its earnings results on Wednesday, March 20th. The company reported $2.23 EPS for the quarter, beating the consensus estimate of $1.42 by $0.81. The company had revenue of $12.52 billion during the quarter, compared to analyst estimates of $11.80 billion. PDD had a return on equity of 39.10% and a net margin of 24.23%. Research analysts predict that PDD will post 7.85 EPS for the current year.

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.