Barclays PLC Sells 25,000 Shares of Dada Nexus Limited (NASDAQ:DADA)

Barclays PLC reduced its stake in shares of Dada Nexus Limited (NASDAQ:DADA) by 18.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,921 shares of the company’s stock after selling 25,000 shares during the period. Barclays PLC’s holdings in Dada Nexus were worth $216,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Dada Nexus during the 3rd quarter valued at about $26,000. Wolverine Trading LLC acquired a new position in shares of Dada Nexus during the 3rd quarter valued at about $42,000. Quadrature Capital Ltd acquired a new position in shares of Dada Nexus during the 3rd quarter valued at about $67,000. SG Americas Securities LLC acquired a new position in shares of Dada Nexus during the 3rd quarter valued at about $126,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Dada Nexus during the 2nd quarter valued at about $136,000. Institutional investors and hedge funds own 59.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on DADA shares. Citigroup lowered their price objective on Dada Nexus from $2.00 to $1.90 and set a “neutral” rating on the stock in a report on Friday, November 15th. Mizuho lowered their price objective on Dada Nexus from $4.50 to $4.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $2.70.

Dada Nexus Stock Up 2.3 %

DADA opened at $1.36 on Wednesday. The firm has a market capitalization of $353.33 million, a P/E ratio of -1.23 and a beta of 1.36. The stock’s 50 day moving average price is $1.37 and its two-hundred day moving average price is $1.43. Dada Nexus Limited has a 12-month low of $1.04 and a 12-month high of $2.83.

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.