Bridgewater Associates LP acquired a new stake in Dada Nexus Limited (NASDAQ:DADA) during the 2nd quarter, Holdings Channel.com reports. The fund acquired 103,005 shares of the company’s stock, valued at approximately $2,988,000.
Several other institutional investors and hedge funds also recently modified their holdings of the company. DekaBank Deutsche Girozentrale bought a new position in shares of Dada Nexus in the second quarter valued at about $121,000. Ensign Peak Advisors Inc bought a new position in shares of Dada Nexus in the second quarter valued at about $119,000. Pinebridge Investments L.P. bought a new position in shares of Dada Nexus in the first quarter valued at about $124,000. Jane Street Group LLC increased its position in Dada Nexus by 35.3% during the first quarter. Jane Street Group LLC now owns 24,095 shares of the company’s stock worth $654,000 after acquiring an additional 6,291 shares during the period. Finally, Asset Management One Co. Ltd. increased its position in Dada Nexus by 303.3% during the second quarter. Asset Management One Co. Ltd. now owns 10,489 shares of the company’s stock worth $304,000 after acquiring an additional 7,888 shares during the period. 22.12% of the stock is currently owned by institutional investors.
DADA stock opened at $21.44 on Thursday. Dada Nexus Limited has a 12 month low of $17.57 and a 12 month high of $61.27. The company’s 50-day moving average price is $21.46 and its two-hundred day moving average price is $24.10.
A number of equities analysts recently commented on DADA shares. Zacks Investment Research lowered shares of Dada Nexus from a “hold” rating to a “sell” rating in a research report on Tuesday. Morgan Stanley raised shares of Dada Nexus from an “equal weight” rating to an “overweight” rating and lowered their price target for the stock from $35.00 to $31.60 in a research report on Wednesday, September 22nd. Finally, KeyCorp lowered their price target on shares of Dada Nexus from $47.00 to $40.00 and set an “overweight” rating on the stock in a research report on Thursday, September 9th. One analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $37.37.
About Dada Nexus
Dada Nexus Limited operates platform of local on-demand retail and delivery in China. It operates JDDJ, a local on-demand retail platform for consumers, retailers, and brand owners; and Dada Now, a local on-demand delivery platform for merchants and individual senders in various industries and product categories.
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