Swiss National Bank increased its position in Dada Nexus Limited (NASDAQ:DADA – Get Rating) by 12.6% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 161,247 shares of the company’s stock after purchasing an additional 18,100 shares during the period. Swiss National Bank owned about 0.07% of Dada Nexus worth $1,472,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DADA. Bayesian Capital Management LP acquired a new stake in shares of Dada Nexus in the fourth quarter worth $162,000. Parametrica Management Ltd purchased a new position in Dada Nexus during the 4th quarter valued at about $170,000. Public Sector Pension Investment Board acquired a new position in shares of Dada Nexus in the 4th quarter valued at about $266,000. Korea Investment CORP increased its holdings in shares of Dada Nexus by 111.3% in the 4th quarter. Korea Investment CORP now owns 20,399 shares of the company’s stock valued at $268,000 after purchasing an additional 10,744 shares during the period. Finally, Schf GPE LLC purchased a new stake in shares of Dada Nexus in the fourth quarter worth approximately $268,000. 19.39% of the stock is currently owned by hedge funds and other institutional investors.
Dada Nexus Stock Down 5.4 %
NASDAQ DADA opened at $5.82 on Friday. The stock has a market capitalization of $1.51 billion, a PE ratio of -3.80 and a beta of 0.79. Dada Nexus Limited has a 12-month low of $5.00 and a 12-month high of $26.90. The company has a 50 day moving average price of $7.38 and a two-hundred day moving average price of $7.81.
Analysts Set New Price Targets
DADA has been the topic of several research reports. JPMorgan Chase & Co. upgraded shares of Dada Nexus from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $7.50 to $10.00 in a research note on Monday, May 16th. Mizuho lowered their price target on shares of Dada Nexus from $18.00 to $16.50 in a report on Tuesday, May 17th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Dada Nexus presently has an average rating of “Buy” and an average target price of $24.05.
About Dada Nexus
Dada Nexus Limited operates a platform of local on-demand retail and delivery in the People's Republic of China. It operates Dada Now, a local on-demand delivery platform that provides intra-city delivery and last-mile delivery services on an on-demand basis to chain merchants, small- and medium-sized enterprise merchants, and individual senders; and JDDJ, a local on-demand retail platform for consumers, retailers, and brand owner.
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