2,890 Shares in DoorDash, Inc. (NASDAQ:DASH) Purchased by Blueshift Asset Management LLC

Key Points

• Blueshift Asset Management LLC has acquired a new stake in DoorDash, purchasing 2,890 shares valued at approximately $528,000 in the first quarter.
• In the fourth quarter, several institutional investors notably increased their positions in DoorDash, with Capital World Investors raising its stake by 26.4% and Voloridge Investment Management by an extraordinary 2,183.2%.
• Brokerages have been optimistic about DoorDash, with JMP Securities increasing its price target for the stock from $235.00 to $250.00 and Morgan Stanley setting a new price objective at $275.00.

Blueshift Asset Management LLC purchased a new stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 2,890 shares of the company's stock, valued at approximately $528,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Harbour Investments Inc. grew its stake in shares of DoorDash by 55.6% during the 1st quarter. Harbour Investments Inc. now owns 196 shares of the company's stock valued at $36,000 after acquiring an additional 70 shares during the period. ORG Partners LLC grew its stake in shares of DoorDash by 404.0% during the 1st quarter. ORG Partners LLC now owns 252 shares of the company's stock valued at $46,000 after acquiring an additional 202 shares during the period. Rothschild Investment LLC grew its stake in shares of DoorDash by 1,452.9% during the 1st quarter. Rothschild Investment LLC now owns 264 shares of the company's stock valued at $48,000 after acquiring an additional 247 shares during the period. Mizuho Securities Co. Ltd. lifted its holdings in DoorDash by 150.0% in the 1st 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. purchased a new position in DoorDash in the 1st quarter worth approximately $56,000. Hedge funds and other institutional investors own 90.64% of the company's stock.

DoorDash Stock Performance

DASH stock traded up $9.67 during trading on Monday, reaching $258.02. 3,349,917 shares of the company traded hands, compared to its average volume of 2,846,482. DoorDash, Inc. has a 12 month low of $106.21 and a 12 month high of $258.73. The business has a 50 day simple moving average of $230.64 and a 200 day simple moving average of $203.92. The company has a market capitalization of $109.33 billion, a price-to-earnings ratio of 335.10 and a beta of 1.70.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates of $0.39 by $0.05. DoorDash had a return on equity of 4.39% and a net margin of 3.02%. The company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter last year, the company earned ($0.06) earnings per share. The firm's revenue for the quarter was up 20.7% compared to the same quarter last year. As a group, research analysts forecast that DoorDash, Inc. will post 2.22 EPS for the current year.

Insiders Place Their Bets

In other DoorDash news, Director Shona L. Brown sold 825 shares of the firm's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $250.00, for a total value of $206,250.00. Following the completion of the sale, the director owned 43,477 shares of the company's stock, valued at approximately $10,869,250. This trade represents a 1.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andy Fang sold 30,000 shares of the firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $240.66, for a total value of $7,219,800.00. Following the completion of the sale, the director directly owned 22,545 shares of the company's stock, valued at approximately $5,425,679.70. This represents a 57.09% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 508,127 shares of company stock valued at $115,087,539. 5.83% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on DASH shares. UBS Group boosted their price target on DoorDash from $196.00 to $260.00 and gave the stock a "neutral" rating in a report on Tuesday, July 29th. Sanford C. Bernstein boosted their price target on DoorDash from $210.00 to $265.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. Citigroup reissued an "outperform" rating on shares of DoorDash in a report on Thursday, June 12th. BMO Capital Markets reissued an "outperform" rating on shares of DoorDash in a report on Tuesday, April 29th. Finally, Wells Fargo & Company upped their price objective on DoorDash from $198.00 to $239.00 and gave the stock an "equal weight" rating in a report on Monday, July 7th. Eleven analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, DoorDash has an average rating of "Moderate Buy" and a consensus target price of $235.56.

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.