Allspring Global Investments Holdings LLC Purchases 230,000 Shares of Dingdong (Cayman) Limited Sponsored ADR $DDL

Allspring Global Investments Holdings LLC raised its position in Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL) by 8.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,020,244 shares of the company’s stock after buying an additional 230,000 shares during the quarter. Allspring Global Investments Holdings LLC owned about 1.28% of Dingdong (Cayman) worth $7,520,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of DDL. Raymond James Financial Inc. increased its holdings in Dingdong (Cayman) by 66.7% in the 3rd quarter. Raymond James Financial Inc. now owns 25,000 shares of the company’s stock valued at $52,000 after buying an additional 10,000 shares during the period. Centiva Capital LP bought a new stake in shares of Dingdong (Cayman) during the 3rd quarter valued at approximately $56,000. BNP Paribas Financial Markets grew its holdings 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 purchasing an additional 33,196 shares during the last quarter. Two Sigma Investments LP bought a new stake in shares of Dingdong (Cayman) during the 3rd quarter valued at approximately $89,000. Finally, Caxton Associates LLP bought a new stake in shares of Dingdong (Cayman) during the 2nd quarter valued at approximately $147,000. 24.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

DDL has been the topic of several research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Dingdong (Cayman) in a report on Friday, March 27th. Zacks Research raised shares of Dingdong (Cayman) from a “strong sell” rating to a “hold” rating in a report on Monday, March 9th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Dingdong (Cayman) currently has an average rating of “Hold”.

Dingdong (Cayman) Price Performance

NYSE:DDL opened at $2.64 on Tuesday. The firm’s 50 day simple moving average is $2.76 and its 200 day simple moving average is $2.37. Dingdong has a one year low of $1.65 and a one year high of $3.41. The company has a market cap of $622.47 million, a PE ratio of 20.27 and a beta of 0.45.

Dingdong (Cayman) (NYSE:DDL) last posted its earnings results on Saturday, February 14th. The company reported $0.02 EPS for the quarter. Dingdong (Cayman) had a net margin of 0.91% and a return on equity of 23.14%. The business had revenue of $892.26 million for the quarter. Equities research analysts expect that Dingdong will post 0.07 EPS for the current year.

Dingdong (Cayman) Company 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.