Morgan Stanley Has $1.55 Million Position in Dada Nexus Limited (NASDAQ:DADA)


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Morgan Stanley grew its holdings in Dada Nexus Limited (NASDAQ:DADA) by 1.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 58,364 shares of the company’s stock after purchasing an additional 563 shares during the quarter. Morgan Stanley’s holdings in Dada Nexus were worth $1,545,000 as of its most recent filing with the SEC.

A number of other institutional investors have also bought and sold shares of DADA. JPMorgan Chase & Co. boosted its stake in Dada Nexus by 240.2% in the third quarter. JPMorgan Chase & Co. now owns 2,345,513 shares of the company’s stock worth $66,988,000 after purchasing an additional 1,656,120 shares in the last quarter. ProShare Advisors LLC acquired a new position in Dada Nexus in the third quarter worth $6,735,000. Indus Capital Partners LLC boosted its stake in Dada Nexus by 670.0% in the third quarter. Indus Capital Partners LLC now owns 258,494 shares of the company’s stock worth $6,842,000 after purchasing an additional 224,925 shares in the last quarter. NS Partners Ltd boosted its stake in Dada Nexus by 43.7% in the third quarter. NS Partners Ltd now owns 381,000 shares of the company’s stock worth $10,085,000 after purchasing an additional 115,900 shares in the last quarter. Finally, BlackRock Inc. acquired a new position in Dada Nexus in the third quarter worth $2,766,000. 14.46% of the stock is currently owned by institutional investors.

Shares of Dada Nexus stock opened at $41.22 on Thursday. Dada Nexus Limited has a 1 year low of $14.60 and a 1 year high of $61.27. The business has a 50-day moving average of $43.03 and a two-hundred day moving average of $32.16. The company has a market capitalization of $9.16 billion and a P/E ratio of -10.73.

Dada Nexus (NASDAQ:DADA) last announced its quarterly earnings results on Wednesday, November 18th. The company reported ($1.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.52) by $0.08. The business had revenue of $188.11 million during the quarter. On average, equities research analysts expect that Dada Nexus Limited will post -1.88 EPS for the current fiscal year.

DADA has been the topic of several research reports. New Street Research initiated coverage on Dada Nexus in a research note on Friday, October 30th. They set a “buy” rating and a $40.00 price target on the stock. BidaskClub downgraded Dada Nexus from a “buy” rating to a “hold” rating in a report on Tuesday, December 8th. Zacks Investment Research upgraded Dada Nexus from a “sell” rating to a “hold” rating in a report on Monday, December 21st. The Goldman Sachs Group upgraded Dada Nexus from a “neutral” rating to a “buy” rating and upped their price objective for the company from $28.50 to $36.00 in a report on Wednesday, November 11th. Finally, Daiwa Capital Markets began coverage on Dada Nexus in a report on Tuesday, October 27th. They issued a “buy” rating for the company. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $41.00.

Dada Nexus Company Profile

Dada Nexus Limited operates platform of local on-demand retail and delivery in China. It operates JD-Daojia, 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.

Further Reading: Momentum Investing

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

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