Picton Mahoney Asset Management Takes $10.16 Million Position in DoorDash, Inc. (NASDAQ:DASH)

Picton Mahoney Asset Management bought a new stake in DoorDash, Inc. (NASDAQ:DASH) during the fourth quarter, Holdings Channel reports. The institutional investor bought 102,737 shares of the company’s stock, valued at approximately $10,161,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. SJS Investment Consulting Inc. raised its stake in shares of DoorDash by 26.9% during the fourth quarter. SJS Investment Consulting Inc. now owns 462 shares of the company’s stock worth $46,000 after purchasing an additional 98 shares during the last quarter. Westside Investment Management Inc. raised its position in DoorDash by 18.2% during the 4th quarter. Westside Investment Management Inc. now owns 650 shares of the company’s stock worth $64,000 after buying an additional 100 shares during the last quarter. Signaturefd LLC lifted its stake in shares of DoorDash by 3.3% in the 4th quarter. Signaturefd LLC now owns 3,824 shares of the company’s stock worth $378,000 after acquiring an additional 121 shares during the period. Mackenzie Financial Corp boosted its holdings in shares of DoorDash by 1.3% in the third quarter. Mackenzie Financial Corp now owns 11,022 shares of the company’s stock valued at $851,000 after acquiring an additional 145 shares in the last quarter. Finally, Yousif Capital Management LLC increased its stake in shares of DoorDash by 5.2% during the third quarter. Yousif Capital Management LLC now owns 2,920 shares of the company’s stock worth $232,000 after acquiring an additional 145 shares during the period. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Insider Activity

In other DoorDash news, insider Keith Yandell sold 3,500 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $124.50, for a total transaction of $435,750.00. Following the transaction, the insider now owns 161,102 shares of the company’s stock, valued at approximately $20,057,199. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other DoorDash news, insider Keith Yandell sold 3,500 shares of DoorDash stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $124.50, for a total value of $435,750.00. Following the completion of the sale, the insider now owns 161,102 shares in the company, valued at approximately $20,057,199. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Tony Xu sold 132,300 shares of the stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $131.96, for a total transaction of $17,458,308.00. The disclosure for this sale can be found here. Insiders sold a total of 487,082 shares of company stock valued at $63,970,010 over the last 90 days. Insiders own 9.59% of the company’s stock.

Wall Street Analyst Weigh In

DASH has been the subject of a number of recent analyst reports. Wedbush restated a “neutral” rating and issued a $115.00 price objective on shares of DoorDash in a research report on Thursday, May 2nd. Oppenheimer lifted their price target on DoorDash from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Monday, April 29th. Morgan Stanley upgraded DoorDash from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $135.00 to $145.00 in a research report on Thursday, February 22nd. Royal Bank of Canada decreased their target price on shares of DoorDash from $175.00 to $165.00 and set an “outperform” rating on the stock in a research report on Thursday, May 2nd. Finally, Benchmark lowered their price target on shares of DoorDash from $165.00 to $150.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Nine equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $129.96.

DoorDash Trading Down 1.7 %

Shares of NASDAQ DASH traded down $2.03 during trading on Tuesday, reaching $115.56. The company had a trading volume of 5,138,800 shares, compared to its average volume of 3,919,864. DoorDash, Inc. has a twelve month low of $62.83 and a twelve month high of $143.34. The stock has a 50-day moving average price of $131.81 and a two-hundred day moving average price of $110.94. The stock has a market capitalization of $46.69 billion, a PE ratio of -107.00, a price-to-earnings-growth ratio of 15.89 and a beta of 1.78.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, May 1st. The company reported ($0.06) earnings per share for the quarter, beating 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 firm had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.45 billion. During the same quarter in the previous year, the company posted ($0.41) EPS. The firm’s revenue for the quarter was up 23.5% on a year-over-year basis. On average, sell-side analysts predict that DoorDash, Inc. will post 0.17 EPS for the current year.

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.