Balyasny Asset Management L.P. Purchases New Stake in DoorDash, Inc. $DASH

Balyasny Asset Management L.P. acquired a new position in DoorDash, Inc. (NASDAQ:DASH) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 729,625 shares of the company’s stock, valued at approximately $179,860,000. Balyasny Asset Management L.P. owned 0.17% of DoorDash at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of DoorDash by 4.6% in the 2nd quarter. Vanguard Group Inc. now owns 41,190,085 shares of the company’s stock valued at $10,153,768,000 after buying an additional 1,792,799 shares during the period. State Street Corp lifted its holdings in DoorDash by 3.1% in the second quarter. State Street Corp now owns 14,387,499 shares of the company’s stock worth $3,546,662,000 after acquiring an additional 427,722 shares during the last quarter. Geode Capital Management LLC boosted its stake in DoorDash by 2.9% in the second quarter. Geode Capital Management LLC now owns 7,951,230 shares of the company’s stock valued at $1,950,711,000 after acquiring an additional 223,188 shares during the period. Invesco Ltd. grew its holdings in shares of DoorDash by 12.0% during the second quarter. Invesco Ltd. now owns 5,375,480 shares of the company’s stock valued at $1,325,110,000 after purchasing an additional 575,629 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of DoorDash by 15.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,907,970 shares of the company’s stock worth $897,031,000 after purchasing an additional 641,601 shares during the period. Institutional investors own 90.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on DASH shares. Guggenheim restated a “buy” rating and set a $280.00 price objective on shares of DoorDash in a research report on Wednesday, November 19th. Jefferies Financial Group raised their target price on DoorDash from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday. Benchmark boosted their price target on shares of DoorDash from $315.00 to $320.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. JPMorgan Chase & Co. lowered their price target on shares of DoorDash from $325.00 to $300.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. Finally, The Goldman Sachs Group cut their price objective on shares of DoorDash from $315.00 to $279.00 and set a “buy” rating on the stock in a research report on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, DoorDash currently has an average rating of “Moderate Buy” and an average price target of $275.46.

Insider Buying and Selling at DoorDash

In other news, Director Alfred Lin bought 389,047 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The shares were purchased at an average price of $193.81 per share, with a total value of $75,401,199.07. Following the completion of the acquisition, the director directly owned 389,047 shares in the company, valued at approximately $75,401,199.07. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Tony Xu sold 288,410 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $196.04, for a total value of $56,539,896.40. Following the completion of the sale, the chief executive officer owned 232,040 shares of the company’s stock, valued at $45,489,121.60. This trade represents a 55.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 696,230 shares of company stock valued at $156,736,003. 5.83% of the stock is currently owned by company insiders.

DoorDash Price Performance

Shares of NASDAQ DASH opened at $227.49 on Friday. The stock has a market cap of $98.05 billion, a P/E ratio of 115.48 and a beta of 1.72. The firm’s 50-day simple moving average is $232.77 and its 200 day simple moving average is $239.61. DoorDash, Inc. has a fifty-two week low of $155.40 and a fifty-two week high of $285.50. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.29.

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

DoorDash Company 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.