Two Sigma Advisers LP Trims Position in DoorDash, Inc. (NASDAQ:DASH)

Two Sigma Advisers LP decreased its position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 16.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,883,500 shares of the company's stock after selling 582,600 shares during the quarter. DoorDash makes up about 1.1% of Two Sigma Advisers LP's holdings, making the stock its 16th largest position. Two Sigma Advisers LP owned 0.69% of DoorDash worth $483,707,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in DASH. Pittenger & Anderson Inc. purchased a new stake in shares of DoorDash in the fourth quarter valued at about $29,000. Denver PWM LLC acquired a new position in DoorDash in the 4th quarter valued at about $30,000. Princeton Global Asset Management LLC purchased a new stake in DoorDash during the 4th quarter valued at approximately $34,000. IFP Advisors Inc lifted its position in DoorDash by 31.8% during the 4th quarter. IFP Advisors Inc now owns 224 shares of the company's stock worth $37,000 after acquiring an additional 54 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its stake in shares of DoorDash by 34.0% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 272 shares of the company's stock valued at $46,000 after purchasing an additional 69 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company's stock.

DoorDash Price Performance

Shares of NASDAQ DASH traded up $5.55 on Friday, hitting $206.42. The company's stock had a trading volume of 3,501,121 shares, compared to its average volume of 4,184,306. The stock has a 50 day moving average of $187.51 and a 200-day moving average of $183.44. The company has a market capitalization of $87.47 billion, a price-to-earnings ratio of 764.52 and a beta of 1.68. DoorDash, Inc. has a 12-month low of $99.32 and a 12-month high of $215.25.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.05. The firm had revenue of $3.03 billion during 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%. The company's quarterly revenue was up 20.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.06) EPS. Sell-side analysts expect that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

DASH has been the subject of several analyst reports. DA Davidson upped their price target on DoorDash from $150.00 to $190.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Bank of America cut their price objective on shares of DoorDash from $245.00 to $235.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Piper Sandler restated a "neutral" rating and issued a $210.00 target price (up previously from $160.00) on shares of DoorDash in a research note on Wednesday, February 12th. JPMorgan Chase & Co. dropped their price target on shares of DoorDash from $205.00 to $175.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Finally, Benchmark increased their price target on shares of DoorDash from $220.00 to $225.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Ten analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $209.97.

Insider Transactions at DoorDash

In other DoorDash news, Director Stanley Tang sold 45,410 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $181.21, for a total value of $8,228,746.10. Following the transaction, the director now directly owns 18,285 shares in the company, valued at approximately $3,313,424.85. This represents a 71.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ravi Inukonda sold 1,425 shares of DoorDash stock in a transaction dated Friday, April 25th. The stock was sold at an average price of $187.22, for a total transaction of $266,788.50. Following the sale, the chief financial officer now owns 337,430 shares of the company's stock, valued at approximately $63,173,644.60. This trade represents a 0.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 101,612 shares of company stock valued at $18,808,326 over the last three months. 5.83% of the stock is currently owned by insiders.

DoorDash Company 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.