Allspring Global Investments Holdings LLC Decreases Holdings in Dingdong (Cayman) Limited Sponsored ADR $DDL

Allspring Global Investments Holdings LLC decreased its stake in Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL) by 6.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,790,244 shares of the company’s stock after selling 180,000 shares during the period. Allspring Global Investments Holdings LLC owned 1.18% of Dingdong (Cayman) worth $5,776,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. QRG Capital Management Inc. purchased a new stake in Dingdong (Cayman) during the second quarter valued at about $32,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Dingdong (Cayman) in the second quarter valued at approximately $54,000. BNP Paribas Financial Markets lifted its stake in shares of Dingdong (Cayman) by 43,678.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 33,272 shares of the company’s stock valued at $67,000 after buying an additional 33,196 shares in the last quarter. Caxton Associates LLP bought a new position in Dingdong (Cayman) in the 2nd quarter worth approximately $147,000. Finally, XTX Topco Ltd bought a new position in Dingdong (Cayman) in the 2nd quarter worth approximately $334,000. 24.66% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on DDL. Weiss Ratings restated a “hold (c)” rating on shares of Dingdong (Cayman) in a research note on Monday, December 29th. Wall Street Zen cut shares of Dingdong (Cayman) from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, Dingdong (Cayman) presently has an average rating of “Hold”.

Dingdong (Cayman) Price Performance

NYSE:DDL opened at $2.81 on Wednesday. Dingdong has a one year low of $1.65 and a one year high of $3.85. The firm has a market capitalization of $664.04 million, a P/E ratio of 16.54 and a beta of 0.42. The company’s 50-day simple moving average is $2.09 and its 200 day simple moving average is $2.10.

Dingdong (Cayman) Profile

Dingdong (Cayman) Inc, which operates under the Dingdong Fresh brand, is a China-based online grocery and fresh food delivery platform. The company leverages a network of urban micro-fulfillment centers to offer consumers a wide selection of produce, meats, seafood, dairy, packaged goods and everyday household items through its mobile application and website.

Orders placed via the Dingdong Fresh app are fulfilled from strategically located dark stores within target neighborhoods, enabling the company to promise delivery times as fast as 20–30 minutes.