Crescent Park Management L.P. grew its position in shares of DoorDash, Inc. (NYSE:DASH – Free Report) by 0.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 67,464 shares of the company’s stock after purchasing an additional 514 shares during the period. DoorDash accounts for about 1.5% of Crescent Park Management L.P.’s investment portfolio, making the stock its 19th largest position. Crescent Park Management L.P.’s holdings in DoorDash were worth $5,156,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of DASH. Norges Bank acquired a new stake in shares of DoorDash during the 4th quarter worth about $132,721,000. Baillie Gifford & Co. boosted its stake in shares of DoorDash by 26.0% during the 2nd quarter. Baillie Gifford & Co. now owns 12,254,555 shares of the company’s stock worth $936,493,000 after purchasing an additional 2,527,951 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of DoorDash by 18.8% during the 1st quarter. Vanguard Group Inc. now owns 12,862,889 shares of the company’s stock worth $1,507,402,000 after purchasing an additional 2,032,637 shares during the last quarter. Amundi lifted its holdings in shares of DoorDash by 1,801.6% during the 4th quarter. Amundi now owns 1,797,416 shares of the company’s stock worth $93,106,000 after acquiring an additional 1,702,894 shares during the period. Finally, Himension Capital Singapore PTE. LTD. lifted its holdings in shares of DoorDash by 35.8% during the 1st quarter. Himension Capital Singapore PTE. LTD. now owns 5,848,641 shares of the company’s stock worth $371,740,000 after acquiring an additional 1,540,637 shares during the period. 75.84% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several brokerages have recently weighed in on DASH. Moffett Nathanson lowered shares of DoorDash from an “outperform” rating to a “market perform” rating in a report on Friday, September 15th. Mizuho upgraded shares of DoorDash from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $90.00 to $105.00 in a report on Monday, September 18th. Needham & Company LLC reiterated a “buy” rating and set a $105.00 price objective on shares of DoorDash in a report on Wednesday, November 15th. Barclays increased their price objective on shares of DoorDash from $90.00 to $95.00 and gave the stock an “equal weight” rating in a report on Thursday, November 2nd. Finally, Oppenheimer raised their price target on shares of DoorDash from $85.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, August 3rd. One analyst has rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $94.18.
DoorDash Trading Down 1.4 %
NYSE:DASH traded down $1.33 during trading hours on Tuesday, hitting $94.42. The stock had a trading volume of 1,595,007 shares, compared to its average volume of 3,867,205. DoorDash, Inc. has a 1-year low of $45.93 and a 1-year high of $96.01. The business has a 50 day simple moving average of $80.53 and a two-hundred day simple moving average of $77.91. The company has a market cap of $37.60 billion, a PE ratio of -35.59 and a beta of 1.61.
DoorDash (NYSE:DASH – Get Free Report) last issued its quarterly earnings data on Wednesday, November 1st. The company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.26. DoorDash had a negative net margin of 12.81% and a negative return on equity of 9.88%. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter last year, the company earned ($0.77) earnings per share. DoorDash’s revenue for the quarter was up 27.2% on a year-over-year basis. Research analysts expect that DoorDash, Inc. will post -1.26 EPS for the current fiscal year.
Insider Transactions at DoorDash
In other news, CEO Tony Xu sold 132,300 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $83.34, for a total transaction of $11,025,882.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Tony Xu sold 132,300 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $83.34, for a total transaction of $11,025,882.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stanley Tang sold 93,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $83.76, for a total transaction of $7,789,680.00. Following the sale, the director now directly owns 44,182 shares of the company’s stock, valued at approximately $3,700,684.32. The disclosure for this sale can be found here. Over the last quarter, insiders sold 862,500 shares of company stock valued at $71,154,301. 9.59% of the stock is currently owned by corporate insiders.
DoorDash Company Profile
DoorDash, Inc operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash and Wolt marketplaces, which provides an array of services that enable merchants to solve mission-critical challenges, such as customer acquisition, delivery, insights and analytics, merchandising, payment processing, and customer support; DashPass and Wolt+, a membership products; and offers DoorDash Drive and Wolt Drive, a white-label delivery fulfillment services; DoorDash Storefront that enables merchants to offer consumers on-demand access to e-commerce; and Bbot, which offers merchants digital ordering and payment solutions for in-store and online channels.
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