1832 Asset Management L.P. Makes New $92.94 Million Investment in DoorDash, Inc. (NASDAQ:DASH)

1832 Asset Management L.P. bought a new position in DoorDash, Inc. (NASDAQ:DASH) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 939,800 shares of the company’s stock, valued at approximately $92,937,000. 1832 Asset Management L.P. owned approximately 0.24% of DoorDash as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Parkside Financial Bank & Trust raised its stake in DoorDash by 361.2% during the 4th quarter. Parkside Financial Bank & Trust now owns 392 shares of the company’s stock valued at $39,000 after purchasing an additional 307 shares during the last quarter. Covestor Ltd raised its stake in DoorDash by 101.2% during the 3rd quarter. Covestor Ltd now owns 503 shares of the company’s stock valued at $40,000 after purchasing an additional 253 shares during the last quarter. Valley National Advisers Inc. acquired a new position in DoorDash during the 4th quarter valued at $43,000. SJS Investment Consulting Inc. raised its stake in DoorDash by 26.9% during the 4th quarter. SJS Investment Consulting Inc. now owns 462 shares of the company’s stock valued at $46,000 after purchasing an additional 98 shares during the last quarter. Finally, Cullen Frost Bankers Inc. acquired a new position in shares of DoorDash in the 4th quarter valued at $49,000. 90.64% of the stock is currently owned by institutional investors and hedge funds.

DoorDash Trading Down 0.6 %

Shares of NASDAQ:DASH traded down $0.72 during trading on Wednesday, hitting $110.58. 3,774,032 shares of the company’s stock were exchanged, compared to its average volume of 3,940,383. DoorDash, Inc. has a 1-year low of $67.95 and a 1-year high of $143.34. The firm has a 50-day moving average price of $123.61 and a two-hundred day moving average price of $115.36. The firm has a market cap of $45.22 billion, a P/E ratio of -102.39, a PEG ratio of 28.02 and a beta of 1.69.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Wednesday, May 1st. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.01. DoorDash had a negative net margin of 4.61% and a negative return on equity of 6.28%. The business had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.45 billion. During the same quarter last year, the firm earned ($0.41) EPS. DoorDash’s quarterly revenue was up 23.5% compared to the same quarter last year. As a group, research analysts predict that DoorDash, Inc. will post 0.11 EPS for the current year.

Insider Buying and Selling

In related news, General Counsel Tia Sherringham sold 11,740 shares of DoorDash stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $110.46, for a total transaction of $1,296,800.40. Following the transaction, the general counsel now owns 183,512 shares of the company’s stock, valued at approximately $20,270,735.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other DoorDash news, CEO Tony Xu sold 132,300 shares of DoorDash stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $131.96, for a total value of $17,458,308.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Tia Sherringham sold 11,740 shares of DoorDash stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $110.46, for a total transaction of $1,296,800.40. Following the completion of the transaction, the general counsel now directly owns 183,512 shares in the company, valued at approximately $20,270,735.52. The disclosure for this sale can be found here. Insiders have sold 437,235 shares of company stock valued at $58,322,937 in the last 90 days. 7.92% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on DASH shares. Wedbush restated a “neutral” rating and issued a $115.00 price objective on shares of DoorDash in a research note on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft upped their target price on shares of DoorDash from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, April 16th. BMO Capital Markets lowered their target price on shares of DoorDash from $138.00 to $127.00 and set an “outperform” rating on the stock in a report on Thursday, May 2nd. Citigroup upped their target price on shares of DoorDash from $141.00 to $144.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Finally, Piper Sandler raised shares of DoorDash from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $53.00 to $127.00 in a report on Friday, March 15th. Nine analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, DoorDash presently has a consensus rating of “Moderate Buy” and an average price target of $132.28.

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.