Dada Nexus Limited (NASDAQ:DADA) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its holdings in Dada Nexus Limited (NASDAQ:DADA - Free Report) by 219.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 224,866 shares of the company's stock after purchasing an additional 154,460 shares during the quarter. JPMorgan Chase & Co. owned 0.09% of Dada Nexus worth $427,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Renaissance Technologies LLC increased its stake in Dada Nexus by 28.3% during the 2nd quarter. Renaissance Technologies LLC now owns 1,721,900 shares of the company's stock worth $2,170,000 after buying an additional 380,100 shares in the last quarter. Jane Street Group LLC increased its stake in Dada Nexus by 45.5% during the 3rd quarter. Jane Street Group LLC now owns 235,666 shares of the company's stock worth $448,000 after buying an additional 73,720 shares in the last quarter. Dimensional Fund Advisors LP purchased a new stake in Dada Nexus during the 2nd quarter worth approximately $230,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Dada Nexus during the 3rd quarter worth approximately $26,000. Finally, Marshall Wace LLP increased its stake in Dada Nexus by 7.5% during the 2nd quarter. Marshall Wace LLP now owns 619,716 shares of the company's stock worth $781,000 after buying an additional 43,359 shares in the last quarter. 59.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DADA has been the subject of several research reports. Citigroup cut their price objective on Dada Nexus from $2.00 to $1.90 and set a "neutral" rating for the company in a research note on Friday, November 15th. Mizuho cut their price target on Dada Nexus from $4.50 to $4.00 and set an "outperform" rating for the company in a report on Tuesday, November 12th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $2.70.

Dada Nexus Price Performance

Shares of NASDAQ:DADA traded up $0.01 during midday trading on Thursday, hitting $1.83. The company had a trading volume of 1,519,592 shares, compared to its average volume of 3,056,821. Dada Nexus Limited has a twelve month low of $1.04 and a twelve month high of $2.83. The stock has a market cap of $475.43 million, a price-to-earnings ratio of -1.65 and a beta of 1.36. The business's 50-day simple moving average is $1.39 and its 200-day simple moving average is $1.44.

Dada Nexus Profile

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 platforms for consumers, retailers, and brand owners.