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

PDD Holdings Inc. (NASDAQ:PDD) saw some unusual options trading activity on Thursday. Stock investors purchased 172,702 call options on the stock. This is an increase of 44% compared to the typical daily volume of 119,893 call options.

PDD Stock Up 4.6 %

PDD stock opened at $135.38 on Friday. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.02. PDD has a 52 week low of $88.01 and a 52 week high of $164.69. The stock has a market capitalization of $186.27 billion, a PE ratio of 17.93, a price-to-earnings-growth ratio of 0.25 and a beta of 0.69. The firm has a 50 day moving average of $118.41 and a 200 day moving average of $128.35.

PDD (NASDAQ:PDD) last posted its quarterly earnings results on Monday, August 26th. The company reported $23.24 earnings per share for the quarter, beating the consensus estimate of $2.66 by $20.58. PDD had a return on equity of 48.14% and a net margin of 28.92%. The business had revenue of $97.06 billion for the quarter, compared to the consensus estimate of $100.17 billion. During the same quarter in the previous year, the business earned $1.27 EPS. The company’s quarterly revenue was up 85.7% compared to the same quarter last year. Sell-side analysts forecast that PDD will post 11.05 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Daiwa America raised PDD to a “strong-buy” rating in a research report on Tuesday, August 27th. Nomura Securities upgraded shares of PDD to a “strong-buy” rating in a report on Tuesday, August 27th. Citigroup downgraded shares of PDD from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $194.00 to $120.00 in a research report on Tuesday, August 27th. Benchmark reduced their price objective on shares of PDD from $230.00 to $185.00 and set a “buy” rating for the company in a research note on Tuesday, August 27th. Finally, Sanford C. Bernstein lowered their target price on shares of PDD from $235.00 to $170.00 and set an “outperform” rating for the company in a research note on Tuesday, August 27th. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $177.78.

Hedge Funds Weigh In On PDD

Several hedge funds and other institutional investors have recently bought and sold shares of PDD. Los Angeles Capital Management LLC raised its stake in shares of PDD by 149.0% during the 1st quarter. Los Angeles Capital Management LLC now owns 296,786 shares of the company’s stock valued at $34,501,000 after buying an additional 177,600 shares during the last quarter. Hhlr Advisors LTD. lifted its holdings in PDD by 37.5% in the fourth 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 period. Vanguard Group Inc. boosted its position in PDD by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 24,163,927 shares of the company’s stock worth $3,535,424,000 after purchasing an additional 62,312 shares in the last quarter. Jupiter Asset Management Ltd. grew its stake in shares of PDD by 63.7% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 230,917 shares of the company’s stock worth $30,700,000 after purchasing an additional 89,853 shares during the period. Finally, Connectus Wealth LLC increased its holdings in shares of PDD by 9.4% during the 4th quarter. Connectus Wealth LLC now owns 6,852 shares of the company’s stock valued at $1,003,000 after purchasing an additional 590 shares in the last quarter. Institutional investors and hedge funds own 29.07% of the company’s stock.

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.