Dada Nexus Limited (NASDAQ:DADA) Shares Purchased by Jane Street Group LLC

Jane Street Group LLC increased its stake in shares of Dada Nexus Limited (NASDAQ:DADA) by 45.5% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 235,666 shares of the company’s stock after purchasing an additional 73,720 shares during the period. Jane Street Group LLC’s holdings in Dada Nexus were worth $448,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Renaissance Technologies LLC boosted its position in shares of Dada Nexus by 28.3% during the second 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 during the period. Canada Pension Plan Investment Board raised its holdings in shares of Dada Nexus by 202.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 618,010 shares of the company’s stock valued at $779,000 after buying an additional 413,600 shares during the period. Headlands Technologies LLC lifted its stake in Dada Nexus by 111.2% during the 2nd quarter. Headlands Technologies LLC now owns 85,835 shares of the company’s stock worth $108,000 after acquiring an additional 45,192 shares in the last quarter. Dimensional Fund Advisors LP purchased a new position in Dada Nexus during the 2nd quarter valued at about $230,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Dada Nexus in the 3rd quarter valued at about $26,000. Institutional investors and hedge funds own 59.25% of the company’s stock.

Dada Nexus Stock Performance

Shares of Dada Nexus stock opened at $1.32 on Tuesday. The business has a 50-day simple moving average of $1.46 and a 200-day simple moving average of $1.44. Dada Nexus Limited has a one year low of $1.04 and a one year high of $2.83. The company has a market cap of $342.94 million, a PE ratio of -1.19 and a beta of 1.36.

Analysts Set New Price Targets

Several analysts have recently issued reports on DADA shares. Mizuho reduced their price target on shares of Dada Nexus from $4.50 to $4.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. Citigroup reduced their target price on shares of Dada Nexus from $2.00 to $1.90 and set a “neutral” rating on the stock in a report on Friday, November 15th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, Dada Nexus presently has a consensus rating of “Hold” and an average target price of $2.70.

About Dada Nexus

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.