GSA Capital Partners LLP grew its stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 93.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,690 shares of the company's stock after acquiring an additional 3,710 shares during the quarter. GSA Capital Partners LLP's holdings in DoorDash were worth $1,098,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Empowered Funds LLC increased its holdings in shares of DoorDash by 31.6% during the 1st quarter. Empowered Funds LLC now owns 5,732 shares of the company's stock worth $789,000 after buying an additional 1,375 shares during the last quarter. US Bancorp DE lifted its stake in shares of DoorDash by 15.6% in the 1st quarter. US Bancorp DE now owns 7,948 shares of the company's stock valued at $1,095,000 after purchasing an additional 1,074 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of DoorDash by 1,568.8% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 41,169 shares of the company's stock worth $5,670,000 after purchasing an additional 38,702 shares during the period. Orion Portfolio Solutions LLC increased its position in DoorDash by 37.3% during the 1st quarter. Orion Portfolio Solutions LLC now owns 6,490 shares of the company's stock worth $894,000 after purchasing an additional 1,762 shares in the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new position in DoorDash in the first quarter valued at approximately $2,969,000. Institutional investors and hedge funds own 90.64% of the company's stock.
DASH has been the subject of several recent research reports. Redburn Atlantic initiated coverage on shares of DoorDash in a research report on Friday, July 26th. They issued a "buy" rating and a $170.00 price objective for the company. Royal Bank of Canada increased their price target on DoorDash from $165.00 to $175.00 and gave the company an "outperform" rating in a report on Thursday, October 31st. DA Davidson boosted their price objective on DoorDash from $119.00 to $150.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. Cantor Fitzgerald reiterated an "overweight" rating and issued a $160.00 target price on shares of DoorDash in a research note on Monday, October 7th. Finally, Benchmark boosted their price target on DoorDash from $152.00 to $173.00 and gave the stock a "buy" rating in a research report on Thursday, October 17th. Ten analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $164.03.
View Our Latest Stock Report on DASH
In other news, COO Prabir Adarkar sold 32,124 shares of DoorDash stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $147.99, for a total transaction of $4,754,030.76. Following the sale, the chief operating officer now owns 963,094 shares of the company's stock, valued at approximately $142,528,281.06. The trade was a 3.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Tony Xu sold 81,249 shares of the business's stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $147.87, for a total value of $12,014,289.63. The disclosure for this sale can be found here. Over the last three months, insiders have sold 324,539 shares of company stock worth $46,439,330. 7.92% of the stock is owned by insiders.
Shares of NASDAQ:DASH opened at $169.43 on Friday. The firm has a 50-day simple moving average of $149.01 and a 200 day simple moving average of $127.00. DoorDash, Inc. has a fifty-two week low of $92.56 and a fifty-two week high of $178.16. The company has a market cap of $70.38 billion, a PE ratio of -376.51, a P/E/G ratio of 14.79 and a beta of 1.67.
DoorDash (NASDAQ:DASH - Get Free Report) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, topping analysts' consensus estimates of $0.21 by $0.17. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The business had revenue of $2.71 billion for the quarter, compared to analysts' expectations of $2.66 billion. During the same period in the prior year, the firm earned ($0.19) EPS. The business's quarterly revenue was up 25.0% on a year-over-year basis. As a group, research analysts forecast that DoorDash, Inc. will post 0.24 EPS for the current fiscal year.
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.
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