GSA Capital Partners LLP Grows Position in DoorDash, Inc. $DASH

GSA Capital Partners LLP raised its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 113.4% during the third quarter, according to its most recent filing with the SEC. The firm owned 6,806 shares of the company’s stock after purchasing an additional 3,617 shares during the period. GSA Capital Partners LLP’s holdings in DoorDash were worth $1,851,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in DoorDash by 3.7% during the third quarter. Vanguard Group Inc. now owns 42,712,908 shares of the company’s stock worth $11,617,484,000 after buying an additional 1,522,823 shares during the period. State Street Corp lifted its position in shares of DoorDash by 3.1% during the second quarter. State Street Corp now owns 14,387,499 shares of the company’s stock valued at $3,546,662,000 after buying an additional 427,722 shares during the last quarter. Geode Capital Management LLC grew its position in shares of DoorDash by 2.9% in the 2nd quarter. Geode Capital Management LLC now owns 7,951,230 shares of the company’s stock worth $1,950,711,000 after buying an additional 223,188 shares during the last quarter. Invesco Ltd. raised its stake in shares of DoorDash by 12.0% during the 2nd quarter. Invesco Ltd. now owns 5,375,480 shares of the company’s stock worth $1,325,110,000 after acquiring an additional 575,629 shares in the last quarter. Finally, Norges Bank purchased a new position in DoorDash in the second quarter worth $1,185,576,000. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Insider Transactions at DoorDash

In related news, CEO Tony Xu sold 288,410 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer owned 232,040 shares of the company’s stock, valued at approximately $45,489,121.60. This represents a 55.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Prabir Adarkar sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $234.57, for a total value of $7,037,100.00. Following the completion of the sale, the chief operating officer directly owned 874,130 shares in the company, valued at approximately $205,044,674.10. The trade was a 3.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 604,135 shares of company stock worth $124,509,080. Insiders own 5.83% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. BNP Paribas Exane initiated coverage on DoorDash in a report on Wednesday, January 14th. They set an “outperform” rating and a $280.00 price objective for the company. Needham & Company LLC cut their price objective on shares of DoorDash from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Friday, November 14th. Barclays lowered their price objective on shares of DoorDash from $272.00 to $238.00 and set an “equal weight” rating for the company in a research note on Thursday, November 6th. Morgan Stanley raised their target price on DoorDash from $300.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Finally, Benchmark boosted their price target on DoorDash from $315.00 to $320.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $280.24.

DoorDash Stock Down 0.5%

DoorDash stock opened at $160.34 on Tuesday. DoorDash, Inc. has a 52 week low of $155.40 and a 52 week high of $285.50. The firm has a market cap of $69.11 billion, a price-to-earnings ratio of 81.39 and a beta of 1.78. The business’s 50-day moving average price is $211.95 and its 200 day moving average price is $233.25. 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 Profile

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.