Caprock Group LLC Boosts Stock Position in DoorDash, Inc. (NASDAQ:DASH)

Caprock Group LLC grew its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 48.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,409 shares of the company’s stock after buying an additional 1,109 shares during the quarter. Caprock Group LLC’s holdings in DoorDash were worth $487,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Rakuten Securities Inc. boosted its stake in DoorDash by 302.3% during the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock valued at $25,000 after acquiring an additional 130 shares during the last quarter. Meeder Asset Management Inc. lifted its position in shares of DoorDash by 82.0% during the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after purchasing an additional 132 shares during the last quarter. Headlands Technologies LLC acquired a new position in DoorDash in the second quarter worth about $32,000. Versant Capital Management Inc increased its holdings in DoorDash by 340.8% in the second quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock valued at $36,000 after buying an additional 259 shares during the last quarter. Finally, Quest Partners LLC raised its stake in DoorDash by 146.8% during the second quarter. Quest Partners LLC now owns 343 shares of the company’s stock valued at $37,000 after buying an additional 204 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Stock Up 2.4 %

DASH opened at $177.24 on Friday. The business has a fifty day simple moving average of $153.61 and a 200-day simple moving average of $128.87. The firm has a market cap of $73.63 billion, a PE ratio of -393.87, a P/E/G ratio of 14.82 and a beta of 1.67. DoorDash, Inc. has a fifty-two week low of $92.56 and a fifty-two week high of $178.16.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.17. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The firm had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter last year, the business posted ($0.19) EPS. DoorDash’s revenue was up 25.0% on a year-over-year basis. On average, equities research analysts anticipate that DoorDash, Inc. will post 0.24 EPS for the current fiscal year.

Insider Activity at DoorDash

In other DoorDash news, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction dated 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 transaction, the director now owns 18,089 shares of the company’s stock, valued at $2,355,187.80. The trade was a 73.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Ravi Inukonda sold 7,000 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $127.86, for a total transaction of $895,020.00. Following the completion of the sale, the chief financial officer now directly owns 396,152 shares of the company’s stock, valued at $50,651,994.72. This trade represents a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 547,753 shares of company stock worth $84,544,996. 7.92% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on DASH shares. KeyCorp boosted their price target on DoorDash from $177.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Barclays raised their price target on shares of DoorDash from $120.00 to $163.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Piper Sandler boosted their price objective on shares of DoorDash from $125.00 to $160.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Wedbush reissued a “neutral” rating and issued a $115.00 target price on shares of DoorDash in a report on Friday, August 2nd. Finally, Loop Capital upped their target price on DoorDash from $170.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Ten equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat.com, DoorDash has a consensus rating of “Moderate Buy” and a consensus price target of $164.03.

About DoorDash

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.