Quarry LP Acquires Shares of 555 DoorDash, Inc. (NASDAQ:DASH)

Quarry LP purchased a new stake in shares of DoorDash, Inc. (NASDAQ:DASH) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 555 shares of the company’s stock, valued at approximately $60,000.

Other hedge funds have also added to or reduced their stakes in the company. Jupiter Asset Management Ltd. acquired a new position in DoorDash during the 1st quarter valued at about $2,969,000. D L Carlson Investment Group Inc. acquired a new stake in DoorDash during the 4th quarter worth $2,421,000. KBC Group NV raised its position in shares of DoorDash by 64.8% during the 4th quarter. KBC Group NV now owns 31,879 shares of the company’s stock valued at $3,153,000 after acquiring an additional 12,538 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in shares of DoorDash by 9.0% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 25,807 shares of the company’s stock worth $2,807,000 after purchasing an additional 2,125 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of DoorDash by 7.4% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 689,785 shares of the company’s stock worth $94,997,000 after buying an additional 47,725 shares during the period. Institutional investors own 90.64% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Tony Xu sold 54,166 shares of the stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $104.96, for a total value of $5,685,263.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other DoorDash news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $105.57, for a total transaction of $5,278,500.00. Following the sale, the director now owns 19,982 shares of the company’s stock, valued at $2,109,499.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Tony Xu sold 54,166 shares of DoorDash stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $104.96, for a total value of $5,685,263.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 281,503 shares of company stock valued at $33,988,063. 7.92% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have issued reports on DASH. Morgan Stanley increased their target price on DoorDash from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Redburn Atlantic began coverage on DoorDash in a research report on Friday, July 26th. They set a “buy” rating and a $170.00 price target for the company. Susquehanna lifted their price objective on shares of DoorDash from $135.00 to $140.00 and gave the company a “positive” rating in a report on Monday, August 5th. Truist Financial increased their target price on shares of DoorDash from $145.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, Wells Fargo & Company boosted their price target on shares of DoorDash from $125.00 to $127.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. Ten research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat.com, DoorDash presently has an average rating of “Moderate Buy” and a consensus target price of $146.44.

DoorDash Trading Down 1.0 %

Shares of DASH stock opened at $142.12 on Friday. The business’s 50-day moving average price is $127.41 and its 200-day moving average price is $122.12. DoorDash, Inc. has a 12 month low of $69.90 and a 12 month high of $146.36. The firm has a market capitalization of $58.11 billion, a price-to-earnings ratio of -131.59, a PEG ratio of 295.70 and a beta of 1.70.

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