Redpoint Investment Management Pty Ltd Acquires 615 Shares of DoorDash, Inc. (NYSE:DASH)

Redpoint Investment Management Pty Ltd increased its holdings in DoorDash, Inc. (NYSE:DASHGet Rating) by 16.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,338 shares of the company’s stock after buying an additional 615 shares during the period. Redpoint Investment Management Pty Ltd’s holdings in DoorDash were worth $278,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Stonnington Group LLC purchased a new position in shares of DoorDash in the 1st quarter worth approximately $209,000. Candlestick Capital Management LP acquired a new stake in DoorDash in the fourth quarter valued at approximately $63,342,000. Strs Ohio purchased a new position in DoorDash in the first quarter worth $515,000. Dragoneer Investment Group LLC increased its position in shares of DoorDash by 121.2% during the first quarter. Dragoneer Investment Group LLC now owns 3,294,334 shares of the company’s stock worth $386,063,000 after purchasing an additional 1,805,124 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec purchased a new stake in shares of DoorDash during the 4th quarter valued at $1,340,000. Hedge funds and other institutional investors own 80.51% of the company’s stock.

DoorDash Price Performance

DASH opened at $59.13 on Monday. The firm has a fifty day moving average price of $68.72 and a 200 day moving average price of $78.50. DoorDash, Inc. has a 1 year low of $56.60 and a 1 year high of $257.25. The stock has a market cap of $22.83 billion, a P/E ratio of -30.32 and a beta of 1.24.

DoorDash (NYSE:DASHGet Rating) last issued its quarterly earnings data on Thursday, August 4th. The company reported ($0.72) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.33). DoorDash had a negative return on equity of 12.82% and a negative net margin of 12.16%. The firm had revenue of $1.61 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same quarter last year, the company posted ($0.30) EPS. The company’s revenue was up 30.1% on a year-over-year basis. Equities analysts expect that DoorDash, Inc. will post -2.36 EPS for the current year.

Insider Buying and Selling at DoorDash

In other news, General Counsel Tia Sherringham sold 625 shares of the company’s stock in a transaction that occurred on Monday, June 27th. The stock was sold at an average price of $74.25, for a total transaction of $46,406.25. Following the completion of the transaction, the general counsel now directly owns 167,959 shares of the company’s stock, valued at approximately $12,470,955.75. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, General Counsel Tia Sherringham sold 625 shares of DoorDash stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $74.25, for a total value of $46,406.25. Following the sale, the general counsel now owns 167,959 shares in the company, valued at $12,470,955.75. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Prabir Adarkar sold 62,051 shares of the company’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $63.76, for a total transaction of $3,956,371.76. Following the transaction, the chief financial officer now owns 787,128 shares of the company’s stock, valued at approximately $50,187,281.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 131,034 shares of company stock valued at $8,462,412. Company insiders own 15.54% of the company’s stock.

Analysts Set New Price Targets

DASH has been the topic of several research analyst reports. Truist Financial dropped their target price on DoorDash from $200.00 to $185.00 and set a “buy” rating on the stock in a research note on Thursday, June 2nd. DA Davidson decreased their price objective on shares of DoorDash from $135.00 to $82.00 and set a “neutral” rating for the company in a research report on Friday, June 3rd. Sanford C. Bernstein assumed coverage on shares of DoorDash in a research report on Monday, May 23rd. They set a “top pick” rating and a $90.00 target price on the stock. JMP Securities decreased their price target on shares of DoorDash from $200.00 to $150.00 and set a “buy” rating for the company in a report on Thursday, June 2nd. Finally, Royal Bank of Canada boosted their price objective on shares of DoorDash from $94.00 to $100.00 in a report on Friday, August 5th. Ten analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, DoorDash currently has an average rating of “Moderate Buy” and a consensus price target of $131.70.

About DoorDash

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DoorDash, Inc operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash marketplace, 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; and offers DoorDash Drive, a white-label logistics service; DoorDash Storefront that enables merchants to offer consumers on-demand access to e-commerce.

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Institutional Ownership by Quarter for DoorDash (NYSE:DASH)

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