PDD Holdings Inc. (NASDAQ:PDD – Get Free Report) was the recipient of some unusual options trading on Wednesday. Investors bought 73,424 call options on the stock. This represents an increase of approximately 25% compared to the typical daily volume of 58,718 call options.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the stock. Hhlr Advisors LTD. boosted its stake in shares of PDD by 266.5% in the first quarter. Hhlr Advisors LTD. now owns 10,642,847 shares of the company’s stock worth $807,792,000 after acquiring an additional 7,739,047 shares during the last quarter. Norges Bank acquired a new position in PDD during the fourth quarter worth $501,089,000. Assenagon Asset Management S.A. boosted its stake in PDD by 3,618.1% during the first quarter. Assenagon Asset Management S.A. now owns 4,630,643 shares of the company’s stock worth $351,466,000 after buying an additional 4,506,101 shares during the last quarter. Trivest Advisors Ltd boosted its stake in PDD by 396.7% during the fourth quarter. Trivest Advisors Ltd now owns 4,427,900 shares of the company’s stock worth $361,095,000 after buying an additional 3,536,400 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. acquired a new position in PDD during the fourth quarter worth $244,881,000.
PDD Trading Up 6.1 %
PDD stock opened at $75.34 on Thursday. The stock has a 50-day moving average price of $69.33 and a 200 day moving average price of $79.31. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $99.42 billion, a price-to-earnings ratio of 20.25, a price-to-earnings-growth ratio of 0.98 and a beta of 0.73. PDD has a 52 week low of $38.80 and a 52 week high of $106.38.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on PDD. Citigroup raised their price objective on PDD from $100.00 to $105.00 in a research report on Monday, May 29th. Bank of America raised their price objective on PDD from $95.00 to $97.00 in a research report on Monday, May 29th. UBS Group dropped their price objective on PDD from $110.00 to $100.00 and set a “buy” rating on the stock in a research report on Tuesday, March 21st. HSBC dropped their price objective on PDD from $118.00 to $115.00 and set a “buy” rating on the stock in a research report on Tuesday, March 21st. Finally, Barclays raised their price target on PDD from $100.00 to $103.00 in a report on Wednesday, May 31st. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, PDD has a consensus rating of “Moderate Buy” and an average target price of $105.64.
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.
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