Tidal Investments LLC Increases Position in DoorDash, Inc. (NASDAQ:DASH)

Tidal Investments LLC increased its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 74.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,447 shares of the company's stock after buying an additional 9,126 shares during the period. Tidal Investments LLC's holdings in DoorDash were worth $3,598,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. State of Wyoming purchased a new position in shares of DoorDash during the 4th quarter worth approximately $187,000. Snowden Capital Advisors LLC bought a new stake in shares of DoorDash during the fourth quarter valued at approximately $251,000. Shellback Capital LP purchased a new stake in DoorDash in the fourth quarter worth $8,388,000. Shell Asset Management Co. raised its holdings in DoorDash by 14.9% in the fourth quarter. Shell Asset Management Co. now owns 7,015 shares of the company's stock worth $1,177,000 after purchasing an additional 909 shares in the last quarter. Finally, Sherbrooke Park Advisers LLC raised its holdings in DoorDash by 114.2% in the fourth quarter. Sherbrooke Park Advisers LLC now owns 5,050 shares of the company's stock worth $847,000 after purchasing an additional 2,692 shares in the last quarter. 90.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on DASH shares. Piper Sandler restated a "neutral" rating and set a $210.00 target price (up previously from $160.00) on shares of DoorDash in a report on Wednesday, February 12th. FBN Securities assumed coverage on shares of DoorDash in a research report on Friday, March 28th. They set an "outperform" rating and a $230.00 price target for the company. Oppenheimer reissued a "hold" rating on shares of DoorDash in a research note on Monday, March 10th. Wall Street Zen raised shares of DoorDash from a "hold" rating to a "buy" rating in a research note on Thursday. Finally, Citigroup reiterated an "outperform" rating on shares of DoorDash in a report on Monday, April 28th. Ten investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $209.97.

DoorDash Stock Performance

Shares of DASH stock traded up $5.28 on Monday, reaching $206.15. The stock had a trading volume of 4,365,564 shares, compared to its average volume of 4,192,076. DoorDash, Inc. has a 1 year low of $99.32 and a 1 year high of $215.25. The stock has a market cap of $87.35 billion, a P/E ratio of 763.52 and a beta of 1.68. The company has a 50 day simple moving average of $187.93 and a 200 day simple moving average of $183.95.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its earnings results 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. The company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.10 billion. DoorDash had a return on equity of 1.67% and a net margin of 1.15%. DoorDash's revenue was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.06) earnings per share. On average, equities research analysts anticipate that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Stanley Tang sold 45,410 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $181.21, for a total transaction of $8,228,746.10. Following the completion of the sale, the director now directly owns 18,285 shares in the company, valued at approximately $3,313,424.85. The trade was a 71.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Ravi Inukonda sold 14,715 shares of the stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $196.52, for a total transaction of $2,891,791.80. Following the completion of the transaction, the chief financial officer now owns 338,055 shares in the company, valued at $66,434,568.60. The trade was a 4.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 101,612 shares of company stock valued at $18,808,326 in the last quarter. 5.83% of the stock is currently owned by insiders.

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.