Aigen Investment Management LP Sells 16,231 Shares of DoorDash, Inc. (NASDAQ:DASH)

Key Points

• Aigen Investment Management LP has significantly cut its stake in DoorDash by 81.1%, now holding only 3,790 shares after selling 16,231 shares.
• Multiple institutional investors, including Vanguard Group and Deutsche Bank AG, have increased their stakes in DoorDash, reflecting a growing interest in the company.
• DoorDash reported strong earnings, posting $0.65 EPS for the quarter, exceeding estimates, with revenue of $3.28 billion, a 24.9% increase compared to last year.

Aigen Investment Management LP trimmed its stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 81.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,790 shares of the company's stock after selling 16,231 shares during the quarter. Aigen Investment Management LP's holdings in DoorDash were worth $693,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in DASH. Harbour Investments Inc. raised its position in shares of DoorDash by 55.6% during the first quarter. Harbour Investments Inc. now owns 196 shares of the company's stock worth $36,000 after acquiring an additional 70 shares during the last quarter. ORG Partners LLC raised its position in shares of DoorDash by 404.0% during the first quarter. ORG Partners LLC now owns 252 shares of the company's stock worth $46,000 after acquiring an additional 202 shares during the last quarter. Rothschild Investment LLC raised its position in shares of DoorDash by 1,452.9% during the first quarter. Rothschild Investment LLC now owns 264 shares of the company's stock worth $48,000 after acquiring an additional 247 shares during the last quarter. Mizuho Securities Co. Ltd. increased its holdings in DoorDash by 150.0% in the first quarter. Mizuho Securities Co. Ltd. now owns 300 shares of the company's stock worth $55,000 after purchasing an additional 180 shares in the last quarter. Finally, Washington Trust Advisors Inc. bought a new stake in DoorDash in the first quarter worth approximately $56,000. 90.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Susquehanna reiterated a "positive" rating and issued a $300.00 target price (up from $235.00) on shares of DoorDash in a report on Monday. DA Davidson lifted their target price on DoorDash from $150.00 to $190.00 and gave the stock a "neutral" rating in a report on Tuesday, May 6th. Wall Street Zen upgraded DoorDash from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. UBS Group lifted their target price on DoorDash from $260.00 to $280.00 and gave the stock a "neutral" rating in a report on Thursday, August 7th. Finally, Benchmark lifted their target price on DoorDash from $260.00 to $315.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Twelve analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, DoorDash has an average rating of "Moderate Buy" and a consensus price target of $263.88.

DoorDash Stock Performance

DoorDash stock traded down $10.12 during mid-day trading on Wednesday, reaching $254.20. 4,378,093 shares of the company's stock were exchanged, compared to its average volume of 3,483,383. The business's fifty day simple moving average is $238.66 and its 200 day simple moving average is $208.04. The firm has a market capitalization of $107.71 billion, a PE ratio of 141.22 and a beta of 1.70. DoorDash, Inc. has a one year low of $122.32 and a one year high of $278.15. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.30.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.23. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.16 billion. DoorDash had a return on equity of 9.56% and a net margin of 6.57%. DoorDash's quarterly revenue was up 24.9% compared to the same quarter last year. During the same period last year, the company posted ($0.38) earnings per share. On average, sell-side analysts expect that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Insider Buying and Selling at DoorDash

In other DoorDash news, Director Shona L. Brown sold 1,650 shares of the business's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $272.00, for a total value of $448,800.00. Following the sale, the director directly owned 41,827 shares in the company, valued at $11,376,944. The trade was a 3.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Tony Xu sold 51,250 shares of the business's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $255.89, for a total value of $13,114,362.50. Following the completion of the sale, the chief executive officer owned 520,450 shares in the company, valued at approximately $133,177,950.50. The trade was a 8.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 686,437 shares of company stock valued at $161,070,166 in the last ninety days. 5.83% of the stock is owned by corporate insiders.

DoorDash 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.