Octahedron Capital Management L.P. Increases Stock Holdings in DoorDash, Inc. (NASDAQ:DASH)

Octahedron Capital Management L.P. grew its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 209.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,700 shares of the company’s stock after buying an additional 35,000 shares during the period. DoorDash accounts for approximately 5.6% of Octahedron Capital Management L.P.’s holdings, making the stock its 7th biggest position. Octahedron Capital Management L.P.’s holdings in DoorDash were worth $5,624,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of DASH. ORG Partners LLC boosted its stake in DoorDash by 2,108.3% in the 1st quarter. ORG Partners LLC now owns 265 shares of the company’s stock worth $37,000 after purchasing an additional 253 shares in the last quarter. Headlands Technologies LLC bought a new position in DoorDash in the 2nd quarter worth about $32,000. Meeder Asset Management Inc. boosted its stake in DoorDash by 82.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after purchasing an additional 132 shares in the last quarter. Hollencrest Capital Management bought a new position in DoorDash in the 1st quarter worth about $42,000. Finally, Versant Capital Management Inc boosted its stake in DoorDash by 340.8% in the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock worth $36,000 after purchasing an additional 259 shares in the last quarter. Institutional investors own 90.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Redburn Atlantic assumed coverage on DoorDash in a research report on Friday, July 26th. They issued a “buy” rating and a $170.00 target price for the company. KeyCorp assumed coverage on DoorDash in a research report on Thursday, July 11th. They issued a “sector weight” rating for the company. Evercore ISI boosted their target price on DoorDash from $145.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. DA Davidson boosted their target price on DoorDash from $110.00 to $119.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Finally, Oppenheimer boosted their target price on DoorDash from $125.00 to $145.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Eleven investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.00.

Insiders Place Their Bets

In other news, Director Andy Fang sold 50,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the completion of the transaction, the director now directly owns 18,089 shares in the company, valued at approximately $2,355,187.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Andy Fang sold 50,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the completion of the transaction, the director now directly owns 18,089 shares in the company, valued at approximately $2,355,187.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Tony Xu sold 54,166 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $107.75, for a total value of $5,836,386.50. The disclosure for this sale can be found here. Insiders sold 304,769 shares of company stock worth $34,760,113 in the last three months. 7.92% of the stock is owned by company insiders.

DoorDash Price Performance

DASH stock opened at $139.72 on Friday. DoorDash, Inc. has a 1-year low of $69.90 and a 1-year high of $143.34. The company has a market capitalization of $57.13 billion, a price-to-earnings ratio of -129.37, a PEG ratio of 275.59 and a beta of 1.69. The business has a 50 day simple moving average of $120.68 and a two-hundred day simple moving average of $121.53.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.29). DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter in the previous year, the company earned ($0.44) earnings per share. The company’s revenue for the quarter was up 23.3% compared to the same quarter last year. Sell-side analysts anticipate that DoorDash, Inc. will post 0.01 EPS for the current fiscal year.

DoorDash Profile

DoorDash, Inc, together with its subsidiaries, operates a commerce platform that connects merchants, consumers, and independent contractors in the United States and internationally. The company operates DoorDash Marketplace and Wolt Marketplace, which provide various services, such as customer acquisition, demand generation, order fulfillment, merchandising, payment processing, and customer support.