DoorDash, Inc. $DASH Holdings Reduced by Acadian Asset Management LLC

Acadian Asset Management LLC lessened its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 26.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 747,253 shares of the company’s stock after selling 262,745 shares during the period. Acadian Asset Management LLC owned 0.18% of DoorDash worth $184,191,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Night Squared LP bought a new stake in shares of DoorDash during the first quarter valued at about $2,780,000. Mutual of America Capital Management LLC acquired a new position in DoorDash during the 1st quarter valued at about $7,200,000. Public Investment Fund increased its stake in DoorDash by 68.3% during the 1st quarter. Public Investment Fund now owns 821,389 shares of the company’s stock valued at $150,125,000 after buying an additional 333,369 shares during the period. Ardmore Road Asset Management LP raised its position in shares of DoorDash by 6.7% during the 1st quarter. Ardmore Road Asset Management LP now owns 80,000 shares of the company’s stock worth $14,622,000 after buying an additional 5,000 shares in the last quarter. Finally, Junto Capital Management LP acquired a new stake in shares of DoorDash in the 1st quarter worth approximately $29,261,000. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on DASH shares. Barclays lowered their price objective on shares of DoorDash from $272.00 to $238.00 and set an “equal weight” rating on the stock in a research note on Thursday. BTIG Research reiterated a “buy” rating and set a $315.00 price target on shares of DoorDash in a research report on Thursday. Citigroup reissued an “outperform” rating on shares of DoorDash in a research note on Thursday, August 7th. DA Davidson reaffirmed a “neutral” rating and set a $260.00 target price on shares of DoorDash in a research note on Thursday. Finally, Wall Street Zen lowered DoorDash from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. Four investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, DoorDash has a consensus rating of “Moderate Buy” and a consensus target price of $280.62.

Insiders Place Their Bets

In other news, COO Prabir Adarkar sold 24,968 shares of the stock in a transaction on Tuesday, October 14th. The stock was sold at an average price of $272.32, for a total value of $6,799,285.76. Following the completion of the sale, the chief operating officer owned 909,579 shares in the company, valued at $247,696,553.28. This represents a 2.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Stanley Tang sold 45,410 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $244.39, for a total value of $11,097,749.90. The disclosure for this sale is available in the SEC filing. Insiders have sold 876,527 shares of company stock worth $218,129,954 in the last quarter. Corporate insiders own 5.83% of the company’s stock.

DoorDash Trading Up 4.0%

Shares of DASH opened at $204.31 on Friday. The business’s 50-day moving average price is $258.75 and its 200 day moving average price is $237.66. The stock has a market capitalization of $87.28 billion, a P/E ratio of 103.71 and a beta of 1.70. DoorDash, Inc. has a 1-year low of $155.40 and a 1-year high of $285.50. The company has a current ratio of 2.04, a quick ratio of 2.07 and a debt-to-equity ratio of 0.29.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.13). DoorDash had a net margin of 6.83% and a return on equity of 9.97%. The firm had revenue of $3.45 billion for the quarter, compared to analysts’ expectations of $3.35 billion. During the same period in the prior year, the company posted $0.38 earnings per share. DoorDash’s quarterly revenue was up 27.3% compared to the same quarter last year. Analysts expect that DoorDash, Inc. will post 2.22 earnings per share for the current year.

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.