Allspring Global Investments Holdings LLC Boosts Stake in Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL)

Allspring Global Investments Holdings LLC lifted its holdings in Dingdong (Cayman) Limited Sponsored ADR (NYSE:DDL) by 732.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,040,244 shares of the company’s stock after buying an additional 2,675,244 shares during the quarter. Allspring Global Investments Holdings LLC owned 1.29% of Dingdong (Cayman) worth $8,209,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of DDL. Arrowstreet Capital Limited Partnership boosted its stake in shares of Dingdong (Cayman) by 397.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,776,675 shares of the company’s stock valued at $5,827,000 after buying an additional 1,419,190 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Dingdong (Cayman) by 195.3% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,020,816 shares of the company’s stock valued at $6,628,000 after buying an additional 1,336,471 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of Dingdong (Cayman) by 164.8% in the fourth quarter. Marshall Wace LLP now owns 1,924,912 shares of the company’s stock valued at $6,314,000 after buying an additional 1,198,006 shares in the last quarter. Polymer Capital Management HK LTD purchased a new stake in shares of Dingdong (Cayman) in the fourth quarter valued at approximately $2,590,000. Finally, Walleye Capital LLC purchased a new stake in shares of Dingdong (Cayman) in the fourth quarter valued at approximately $2,227,000. 24.66% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen cut Dingdong (Cayman) from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 24th.

Dingdong (Cayman) Stock Performance

Shares of DDL stock opened at $2.08 on Friday. The stock has a fifty day moving average price of $2.20 and a 200 day moving average price of $2.80. The stock has a market cap of $491.36 million, a PE ratio of 13.87 and a beta of 0.46. Dingdong has a 1 year low of $1.62 and a 1 year high of $4.79.

Dingdong (Cayman) Profile

Dingdong (Cayman) Limited operates an e-commerce company in China. The company offers fresh groceries, including vegetables, meat and eggs, fruits, and seafood; prepared food, and other food products, such as baked goods, dairy, seasonings, beverages, instant food, oil, and snacks. It offers its products through traditional offline, as well as online channels through Dingdong Fresh app, mini-programs, and third-party platforms.