Stock Traders Purchase High Volume of PDD Put Options (NASDAQ:PDD)

PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) saw unusually large options trading activity on Thursday. Investors acquired 312,224 put options on the stock. This represents an increase of approximately 394% compared to the average volume of 63,152 put options.

Institutional Investors Weigh In On PDD

A number of large investors have recently made changes to their positions in PDD. Advisory Services Network LLC lifted its position 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 acquiring an additional 102 shares during the period. West Family Investments Inc. increased its holdings in shares of PDD by 2.8% in the third quarter. West Family Investments Inc. now owns 4,026 shares of the company’s stock valued at $532,000 after purchasing an additional 110 shares during the period. Lido Advisors LLC raised its stake in shares of PDD by 4.6% in the second quarter. Lido Advisors LLC now owns 2,633 shares of the company’s stock worth $276,000 after purchasing an additional 115 shares during the last quarter. Range Financial Group LLC lifted its holdings in shares of PDD by 3.4% during the third quarter. Range Financial Group LLC now owns 3,489 shares of the company’s stock worth $461,000 after purchasing an additional 116 shares during the period. Finally, Focus Partners Wealth lifted its holdings in shares of PDD by 1.0% during the fourth quarter. Focus Partners Wealth now owns 13,886 shares of the company’s stock worth $1,512,000 after purchasing an additional 142 shares during the period. 39.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PDD has been the subject of a number of analyst reports. Citigroup reaffirmed a “neutral” rating on shares of PDD in a report on Wednesday, January 28th. Arete Research set a $130.00 target price on shares of PDD in a report on Tuesday, December 9th. Morgan Stanley set a $148.00 price objective on shares of PDD in a research note on Thursday, January 15th. Loop Capital set a $170.00 price target on PDD in a report on Tuesday, January 6th. Finally, Wall Street Zen cut PDD from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Four investment analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $139.87.

PDD Stock Performance

PDD stock traded down $3.29 during trading on Thursday, reaching $97.43. The company had a trading volume of 11,992,076 shares, compared to its average volume of 8,046,073. The company has a market cap of $135.64 billion, a price-to-earnings ratio of 10.17, a price-to-earnings-growth ratio of 0.92 and a beta of -0.01. PDD has a twelve month low of $87.11 and a twelve month high of $139.41. The firm has a 50-day simple moving average of $104.97 and a 200-day simple moving average of $117.65.

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.