DoorDash, Inc. $DASH Stake Trimmed by Y.D. More Investments Ltd

Y.D. More Investments Ltd lessened its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 20.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,696 shares of the company’s stock after selling 2,445 shares during the period. Y.D. More Investments Ltd’s holdings in DoorDash were worth $2,390,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Night Squared LP acquired a new stake in shares of DoorDash during the first quarter worth approximately $2,780,000. Public Investment Fund increased its stake in DoorDash by 68.3% in 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. Mutual of America Capital Management LLC purchased a new stake in DoorDash in the 1st quarter worth approximately $7,200,000. Ardmore Road Asset Management LP boosted its stake 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 valued at $14,622,000 after buying an additional 5,000 shares during the period. Finally, Junto Capital Management LP acquired a new stake in shares of DoorDash during the 1st quarter valued at $29,261,000. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Ravi Inukonda sold 1,425 shares of the firm’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $263.86, for a total value of $376,000.50. Following the transaction, the chief financial officer directly owned 214,147 shares in the company, valued at approximately $56,504,827.42. This trade represents a 0.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $244.39, for a total transaction of $11,097,749.90. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 791,110 shares of company stock valued at $196,549,692 in the last three months. Company insiders own 5.83% of the company’s stock.

DoorDash Stock Performance

Shares of NASDAQ DASH opened at $206.96 on Friday. The business’s 50-day simple moving average is $254.14 and its 200-day simple moving average is $238.14. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.04 and a current ratio of 2.04. 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 $89.20 billion, a price-to-earnings ratio of 105.06 and a beta of 1.70.

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

Analysts Set New Price Targets

DASH has been the subject of several recent research reports. BTIG Research reiterated a “buy” rating and set a $315.00 price objective on shares of DoorDash in a report on Thursday, November 6th. Guggenheim raised DoorDash to a “strong-buy” rating in a research report on Wednesday, October 15th. Oppenheimer reaffirmed an “outperform” rating and set a $280.00 price target on shares of DoorDash in a research note on Thursday, November 6th. Cantor Fitzgerald lowered their price target on DoorDash from $330.00 to $270.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. Finally, Zacks Research downgraded DoorDash from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $279.00.

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.