Verition Fund Management LLC Trims Stake in DoorDash, Inc. (NASDAQ:DASH)

Verition Fund Management LLC reduced its holdings in shares of DoorDash, Inc. (NASDAQ:DASHFree Report) by 47.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 83,392 shares of the company’s stock after selling 74,324 shares during the period. Verition Fund Management LLC’s holdings in DoorDash were worth $8,247,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DASH. Elo Mutual Pension Insurance Co increased its stake in shares of DoorDash by 5.7% in the fourth quarter. Elo Mutual Pension Insurance Co now owns 22,358 shares of the company’s stock worth $2,212,000 after purchasing an additional 1,213 shares in the last quarter. CenterBook Partners LP bought a new position in shares of DoorDash during the fourth quarter worth $489,000. Vinva Investment Management Ltd boosted its position in shares of DoorDash by 18.1% during the fourth quarter. Vinva Investment Management Ltd now owns 7,779 shares of the company’s stock worth $780,000 after acquiring an additional 1,191 shares during the last quarter. Northern Trust Corp boosted its position in shares of DoorDash by 0.6% during the fourth quarter. Northern Trust Corp now owns 1,842,042 shares of the company’s stock worth $182,160,000 after acquiring an additional 11,412 shares during the last quarter. Finally, Cibc World Markets Corp bought a new position in shares of DoorDash during the fourth quarter worth $5,969,000. 90.64% of the stock is owned by hedge funds and other institutional investors.

DoorDash Stock Down 0.9 %

DASH stock opened at $112.25 on Tuesday. DoorDash, Inc. has a 12 month low of $69.90 and a 12 month high of $143.34. The firm’s 50-day moving average is $122.13 and its 200 day moving average is $115.88.

DoorDash (NASDAQ:DASHGet Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.01. The company had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.45 billion. DoorDash had a negative net margin of 4.61% and a negative return on equity of 6.28%. The firm’s revenue was up 23.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.41) EPS. As a group, sell-side analysts predict that DoorDash, Inc. will post 0.11 EPS for the current year.

Insider Buying and Selling at DoorDash

In other DoorDash news, Director Shona L. Brown sold 700 shares of the firm’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $141.60, for a total transaction of $99,120.00. Following the transaction, the director now owns 70,111 shares of the company’s stock, valued at approximately $9,927,717.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Andy Fang sold 66,195 shares of DoorDash stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $139.31, for a total value of $9,221,625.45. Following the transaction, the director now owns 36,482 shares of the company’s stock, valued at approximately $5,082,307.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Shona L. Brown sold 700 shares of DoorDash stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $141.60, for a total transaction of $99,120.00. Following the completion of the transaction, the director now directly owns 70,111 shares in the company, valued at approximately $9,927,717.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 449,323 shares of company stock valued at $59,674,859. Company insiders own 7.92% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on DASH shares. Oppenheimer upped their target price on shares of DoorDash from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Monday, April 29th. Roth Mkm lowered their price objective on shares of DoorDash from $121.00 to $118.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. UBS Group lowered their price objective on shares of DoorDash from $123.00 to $118.00 and set a “neutral” rating for the company in a research report on Friday, February 16th. Truist Financial lowered their price objective on shares of DoorDash from $155.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Finally, BMO Capital Markets lowered their price objective on shares of DoorDash from $138.00 to $127.00 and set an “outperform” rating for the company in a research report on Thursday, May 2nd. Nine investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $132.28.

Get Our Latest Stock Report on DoorDash

DoorDash Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for DoorDash (NASDAQ:DASH)

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