Insigneo Advisory Services LLC Purchases New Stake in DoorDash, Inc. (NASDAQ:DASH)

Insigneo Advisory Services LLC purchased a new stake in DoorDash, Inc. (NASDAQ:DASH) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,049 shares of the company’s stock, valued at approximately $223,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of DoorDash by 74.7% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 54,122 shares of the company’s stock valued at $5,887,000 after purchasing an additional 23,138 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in DoorDash during the second quarter worth $11,943,000. Marshall Wace LLP increased its stake in DoorDash by 930.5% during the second quarter. Marshall Wace LLP now owns 675,988 shares of the company’s stock worth $73,534,000 after acquiring an additional 610,388 shares during the last quarter. Xponance Inc. increased its stake in DoorDash by 14.7% during the second quarter. Xponance Inc. now owns 55,793 shares of the company’s stock worth $6,069,000 after acquiring an additional 7,148 shares during the last quarter. Finally, Profund Advisors LLC increased its stake in DoorDash by 1.0% during the second quarter. Profund Advisors LLC now owns 44,611 shares of the company’s stock worth $4,853,000 after acquiring an additional 428 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Price Performance

Shares of NASDAQ DASH opened at $142.23 on Friday. The company has a market capitalization of $58.53 billion, a price-to-earnings ratio of -131.69, a price-to-earnings-growth ratio of 295.70 and a beta of 1.69. The business has a 50-day moving average of $125.10 and a two-hundred day moving average of $121.95. DoorDash, Inc. has a 1 year low of $69.90 and a 1 year high of $146.36.

DoorDash (NASDAQ:DASH) last posted its earnings results 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 firm had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same period in the previous year, the firm posted ($0.44) earnings per share. The firm’s revenue for the quarter was up 23.3% on a year-over-year basis. As a group, equities research analysts expect that DoorDash, Inc. will post 0.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Benchmark reissued a “buy” rating and set a $150.00 target price on shares of DoorDash in a research note on Tuesday, July 30th. Keefe, Bruyette & Woods raised DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 target price for the company in a research note on Wednesday. BTIG Research raised DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 target price for the company in a research note on Thursday, September 19th. Wolfe Research started coverage on DoorDash in a research note on Tuesday, July 16th. They set an “outperform” rating and a $130.00 target price for the company. Finally, Redburn Atlantic started coverage on DoorDash in a research note on Friday, July 26th. They issued a “buy” rating and a $170.00 price objective for the company. Ten investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $145.97.

Insider Activity

In other news, CEO Tony Xu sold 54,166 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $140.06, for a total value of $7,586,489.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other DoorDash news, Director Shona L. Brown sold 5,005 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $120.00, for a total transaction of $600,600.00. Following the completion of the sale, the director now directly owns 65,186 shares of the company’s stock, valued at approximately $7,822,320. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Tony Xu sold 54,166 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $140.06, for a total value of $7,586,489.96. The disclosure for this sale can be found here. In the last three months, insiders sold 350,223 shares of company stock valued at $41,391,523. Insiders own 7.92% of the company’s stock.

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.