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

PDD Holdings Inc. Sponsored ADR (NASDAQ:PDD) saw unusually large options trading activity on Thursday. Traders purchased 312,224 put options on the company. This is an increase of 394% compared to the average daily volume of 63,152 put options.

Analysts Set New Price Targets

Several research firms have recently commented on PDD. Citigroup reaffirmed a “neutral” rating on shares of PDD in a report on Wednesday, January 28th. Bank of America decreased their target price on shares of PDD from $141.00 to $140.00 and set a “neutral” rating for the company in a research report on Wednesday, November 19th. Morgan Stanley set a $148.00 price target on PDD in a research report on Thursday, January 15th. Wall Street Zen cut PDD from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Finally, Loop Capital set a $170.00 target price on PDD in a research note on Tuesday, January 6th. Four research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, PDD presently has a consensus rating of “Hold” and an average price target of $139.87.

Hedge Funds Weigh In On PDD

Several institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank purchased a new position in PDD during the fourth quarter worth approximately $1,065,446,000. Assenagon Asset Management S.A. increased its position in shares of PDD by 305.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 6,728,909 shares of the company’s stock valued at $762,991,000 after buying an additional 5,070,827 shares in the last quarter. Himalaya Capital Management LLC purchased a new stake in shares of PDD in the second quarter valued at approximately $482,273,000. Dodge & Cox acquired a new position in shares of PDD during the 4th quarter worth approximately $503,429,000. Finally, NetEase Inc. acquired a new position in shares of PDD during the 2nd quarter worth approximately $372,117,000. Hedge funds and other institutional investors own 39.83% of the company’s stock.

PDD Trading Down 3.3%

PDD traded down $3.29 on Thursday, reaching $97.43. The stock had a trading volume of 11,992,076 shares, compared to its average volume of 8,046,073. The business’s 50-day moving average price is $104.97 and its two-hundred day moving average price is $117.65. The company has a market cap of $135.64 billion, a P/E ratio of 10.17, a price-to-earnings-growth ratio of 0.92 and a beta of -0.01. PDD has a 12-month low of $87.11 and a 12-month high of $139.41.

About PDD

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.