Dada Nexus Limited (NASDAQ:DADA) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lessened its stake in Dada Nexus Limited (NASDAQ:DADA) by 4.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 117,424 shares of the company’s stock after selling 5,344 shares during the period. California Public Employees Retirement System’s holdings in Dada Nexus were worth $390,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in DADA. Kaizen Capital Partners Ltd raised its holdings in shares of Dada Nexus by 6.9% in the 3rd quarter. Kaizen Capital Partners Ltd now owns 12,281,623 shares of the company’s stock valued at $54,653,000 after buying an additional 788,425 shares during the period. Van Berkom & Associates Inc. lifted its position in shares of Dada Nexus by 2.3% during the third quarter. Van Berkom & Associates Inc. now owns 139,981 shares of the company’s stock worth $623,000 after purchasing an additional 3,100 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Dada Nexus by 74.2% during the third quarter. Janney Montgomery Scott LLC now owns 249,261 shares of the company’s stock worth $1,109,000 after purchasing an additional 106,168 shares in the last quarter. New Silk Road Investment PTE Ltd. boosted its stake in shares of Dada Nexus by 43.3% in the third quarter. New Silk Road Investment PTE Ltd. now owns 498,700 shares of the company’s stock valued at $2,219,000 after purchasing an additional 150,700 shares during the period. Finally, Aviva PLC grew its holdings in shares of Dada Nexus by 56.0% in the third quarter. Aviva PLC now owns 1,443,060 shares of the company’s stock valued at $6,422,000 after purchasing an additional 518,113 shares in the last quarter. Institutional investors and hedge funds own 59.25% of the company’s stock.

Dada Nexus Price Performance

Shares of Dada Nexus stock opened at $2.17 on Monday. The stock has a market capitalization of $568.56 million, a price-to-earnings ratio of -1.66 and a beta of 1.46. The firm’s fifty day simple moving average is $2.15 and its 200-day simple moving average is $2.63. Dada Nexus Limited has a 12 month low of $1.36 and a 12 month high of $7.03.

Dada Nexus (NASDAQ:DADA) last announced its earnings results on Monday, March 25th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.09). Dada Nexus had a negative net margin of 22.62% and a negative return on equity of 14.07%. The business had revenue of $381.95 million during the quarter, compared to analysts’ expectations of $436.80 million. Analysts anticipate that Dada Nexus Limited will post 0.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on DADA shares. The Goldman Sachs Group began coverage on shares of Dada Nexus in a research report on Thursday, April 25th. They issued a “neutral” rating and a $2.10 price target for the company. Citigroup cut Dada Nexus from a “buy” rating to a “sell” rating in a research note on Monday, January 8th. Mizuho reduced their target price on shares of Dada Nexus from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Wednesday, January 17th. New Street Research reissued a “neutral” rating and set a $2.00 target price (down previously from $15.00) on shares of Dada Nexus in a research report on Wednesday, March 6th. Finally, Daiwa Capital Markets upgraded shares of Dada Nexus from a “neutral” rating to a “buy” rating and set a $3.50 price target on the stock in a research note on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Dada Nexus has a consensus rating of “Hold” and a consensus target price of $4.85.

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.