FNY Investment Advisers LLC Purchases Shares of 10,975 DoorDash, Inc. $DASH

Key Points

• FNY Investment Advisers LLC acquired 10,975 shares of DoorDash, Inc. valued at approximately $2.7 million, making it the firm's 10th largest holding.
• Multiple hedge funds have recently invested in DoorDash, with Public Investment Fund now holding about $150 million worth of shares after a significant increase in its stake.
• DoorDash's quarterly earnings exceeded expectations, reporting $0.65 earnings per share and $3.28 billion in revenue, up 24.9% year-over-year.

FNY Investment Advisers LLC purchased a new stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,975 shares of the company's stock, valued at approximately $2,705,000. DoorDash accounts for approximately 1.2% of FNY Investment Advisers LLC's portfolio, making the stock its 10th largest holding.

Other hedge funds also recently bought and sold shares of the company. Night Squared LP bought a new stake in DoorDash during the first quarter valued at about $2,780,000. Mutual of America Capital Management LLC bought a new stake in DoorDash during the first quarter valued at about $7,200,000. Public Investment Fund boosted its holdings in DoorDash by 68.3% during the first quarter. Public Investment Fund now owns 821,389 shares of the company's stock valued at $150,125,000 after acquiring an additional 333,369 shares during the period. Ardmore Road Asset Management LP raised its position in shares of DoorDash by 6.7% during the first quarter. Ardmore Road Asset Management LP now owns 80,000 shares of the company's stock valued at $14,622,000 after buying an additional 5,000 shares during the last quarter. Finally, Junto Capital Management LP acquired a new position in shares of DoorDash during the first quarter valued at about $29,261,000. 90.64% of the stock is currently owned by institutional investors.

Insider Activity at DoorDash

In other news, Director Stanley Tang sold 45,410 shares of the firm's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $268.23, for a total transaction of $12,180,324.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Tony Xu sold 34,166 shares of the firm's stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $268.24, for a total transaction of $9,164,687.84. Following the sale, the chief executive officer directly owned 520,450 shares of the company's stock, valued at approximately $139,605,508. The trade was a 6.16% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 993,105 shares of company stock valued at $248,566,566. Insiders own 5.83% of the company's stock.

DoorDash Stock Performance

NASDAQ:DASH opened at $261.97 on Wednesday. DoorDash, Inc. has a 12-month low of $150.26 and a 12-month high of $285.50. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $111.91 billion, a PE ratio of 145.54 and a beta of 1.71. The firm has a 50-day moving average price of $259.45 and a 200 day moving average price of $231.17.

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on DASH shares. BMO Capital Markets upped their price objective on shares of DoorDash from $238.00 to $288.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Loop Capital reaffirmed a "buy" rating on shares of DoorDash in a research report on Tuesday, July 15th. KeyCorp reaffirmed an "overweight" rating and set a $325.00 price objective (up previously from $295.00) on shares of DoorDash in a research report on Thursday, August 7th. Royal Bank Of Canada upped their price objective on shares of DoorDash from $230.00 to $300.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Finally, Jefferies Financial Group upped their price objective on shares of DoorDash from $265.00 to $280.00 and gave the company a "hold" rating in a research report on Friday. Four analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $285.26.

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.

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