Swiss National Bank Makes New Investment in Dada Nexus Limited (NASDAQ:DADA)

Swiss National Bank bought a new position in shares of Dada Nexus Limited (NASDAQ:DADA) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 143,547 shares of the company’s stock, valued at approximately $4,164,000. Swiss National Bank owned about 0.06% of Dada Nexus as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of DADA. Caas Capital Management LP acquired a new stake in Dada Nexus during the first quarter worth $20,810,000. Baillie Gifford & Co. increased its stake in Dada Nexus by 7.8% during the second quarter. Baillie Gifford & Co. now owns 7,756,215 shares of the company’s stock worth $225,008,000 after acquiring an additional 559,007 shares during the last quarter. Rovida Advisors Inc. grew its stake in shares of Dada Nexus by 8.1% in the first quarter. Rovida Advisors Inc. now owns 7,421,882 shares of the company’s stock valued at $201,059,000 after buying an additional 553,571 shares in the last quarter. GAM Holding AG acquired a new stake in shares of Dada Nexus in the first quarter valued at $14,120,000. Finally, Neuberger Berman Group LLC grew its stake in shares of Dada Nexus by 124.6% in the first quarter. Neuberger Berman Group LLC now owns 655,063 shares of the company’s stock valued at $17,778,000 after buying an additional 363,342 shares in the last quarter. 22.12% of the stock is owned by institutional investors.

DADA has been the subject of a number of recent analyst reports. lifted their price target on Dada Nexus from $36.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, June 9th. JPMorgan Chase & Co. initiated coverage on Dada Nexus in a report on Wednesday, June 9th. They set an “overweight” rating and a $40.00 price target for the company. KeyCorp decreased their price target on Dada Nexus from $47.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, September 9th. Citigroup boosted their target price on Dada Nexus from $36.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, June 9th. Finally, Zacks Investment Research cut Dada Nexus from a “hold” rating to a “sell” rating in a research report on Wednesday, August 11th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Dada Nexus currently has a consensus rating of “Buy” and an average price target of $38.00.

Shares of Dada Nexus stock opened at $20.04 on Tuesday. Dada Nexus Limited has a fifty-two week low of $17.57 and a fifty-two week high of $61.27. The firm has a market cap of $4.75 billion, a PE ratio of -13.18 and a beta of 1.08. The business’s fifty day moving average is $22.56 and its two-hundred day moving average is $25.24.

Dada Nexus (NASDAQ:DADA) last issued its quarterly earnings results on Monday, September 6th. The company reported ($2.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.41) by ($1.91). Dada Nexus had a negative return on equity of 37.94% and a negative net margin of 35.97%. On average, analysts forecast that Dada Nexus Limited will post -1.61 EPS for the current fiscal year.

Dada Nexus Company Profile

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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Institutional Ownership by Quarter for Dada Nexus (NASDAQ:DADA)

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