Ballentine Partners LLC Raises Stake in DoorDash, Inc. (NASDAQ:DASH)

Ballentine Partners LLC raised its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 29.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,850 shares of the company’s stock after acquiring an additional 655 shares during the period. Ballentine Partners LLC’s holdings in DoorDash were worth $407,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. ORG Partners LLC grew its holdings in shares of DoorDash by 2,108.3% during the 1st quarter. ORG Partners LLC now owns 265 shares of the company’s stock valued at $37,000 after purchasing an additional 253 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of DoorDash during the second quarter valued at about $32,000. Meeder Asset Management Inc. increased its holdings in shares of DoorDash by 82.0% in the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after buying an additional 132 shares during the period. Hollencrest Capital Management bought a new stake in shares of DoorDash in the 1st quarter valued at about $42,000. Finally, Versant Capital Management Inc boosted its holdings in DoorDash by 340.8% during the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock valued at $36,000 after acquiring an additional 259 shares during the period. 90.64% of the stock is owned by hedge funds and other institutional investors.

DoorDash Trading Up 0.5 %

DASH stock opened at $153.88 on Monday. The stock’s 50 day simple moving average is $137.76 and its 200 day simple moving average is $123.40. DoorDash, Inc. has a 12-month low of $69.90 and a 12-month high of $155.29. The stock has a market capitalization of $62.92 billion, a PE ratio of -142.48, a price-to-earnings-growth ratio of 425.82 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data 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 net margin of 4.24% and a negative return on equity of 5.91%. The company had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.54 billion. During the same period in the previous year, the firm earned ($0.44) earnings per share. The firm’s revenue for the quarter was up 23.3% on a year-over-year basis. On average, research analysts predict that DoorDash, Inc. will post 0.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

DASH has been the topic of a number of analyst reports. Raymond James initiated coverage on DoorDash in a research note on Tuesday, September 24th. They issued an “outperform” rating and a $155.00 price target on the stock. Barclays upped their price target on shares of DoorDash from $113.00 to $120.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. raised their price target on shares of DoorDash from $111.00 to $137.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Argus started coverage on shares of DoorDash in a research note on Tuesday, July 23rd. They set a “hold” rating for the company. Finally, Needham & Company LLC raised their target price on DoorDash from $137.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Ten analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $151.00.

Insider Transactions at DoorDash

In other DoorDash news, CEO Tony Xu sold 81,249 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $147.87, for a total value of $12,014,289.63. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other DoorDash news, Director Shona L. Brown sold 5,005 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $120.00, for a total value of $600,600.00. Following the completion of the sale, the director now owns 65,186 shares in the company, valued at approximately $7,822,320. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Tony Xu sold 81,249 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $147.87, for a total value of $12,014,289.63. The disclosure for this sale can be found here. Insiders have sold a total of 390,710 shares of company stock worth $54,472,120 in the last ninety days. Insiders own 7.92% of the company’s stock.

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.