GAMMA Investing LLC Raises Stake in DoorDash, Inc. $DASH

Key Points

• GAMMA Investing LLC increased its stake in DoorDash by 123.5% during the second quarter, holding a total of 4,295 shares valued at approximately $1,059,000.
• Shares of DoorDash recently opened at $265.75, with a market capitalization of $113.53 billion and a price-to-earnings ratio of 147.64.
• DoorDash reported $3.28 billion in revenue for the last quarter, exceeding estimates and marking a 24.9% year-over-year increase in revenue.

GAMMA Investing LLC boosted its stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 123.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,295 shares of the company's stock after buying an additional 2,373 shares during the quarter. GAMMA Investing LLC's holdings in DoorDash were worth $1,059,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Brighton Jones LLC grew its position in shares of DoorDash by 24.0% during the 4th quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock valued at $1,566,000 after acquiring an additional 1,807 shares during the period. Vise Technologies Inc. grew its holdings in DoorDash by 23.5% during the fourth quarter. Vise Technologies Inc. now owns 2,041 shares of the company's stock valued at $342,000 after purchasing an additional 388 shares during the period. American Trust purchased a new stake in DoorDash in the fourth quarter worth $201,000. Polar Asset Management Partners Inc. bought a new stake in shares of DoorDash in the fourth quarter valued at $2,952,000. Finally, Jefferies Financial Group Inc. purchased a new position in shares of DoorDash during the 4th quarter valued at $813,000. Institutional investors own 90.64% of the company's stock.

DoorDash Price Performance

Shares of DoorDash stock opened at $265.75 on Wednesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.07 and a current ratio of 2.07. DoorDash, Inc. has a 52-week low of $138.59 and a 52-week high of $278.15. The company has a fifty day moving average of $251.21 and a 200-day moving average of $219.55. The stock has a market capitalization of $113.53 billion, a price-to-earnings ratio of 147.64 and a beta of 1.70.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its quarterly earnings results 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. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. The business had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the previous year, the firm posted ($0.38) earnings per share. The firm's revenue for the quarter was up 24.9% on a year-over-year basis. Equities research analysts expect that DoorDash, Inc. will post 2.22 EPS for the current year.

Wall Street Analysts Forecast Growth

DASH has been the topic of a number of research reports. Wall Street Zen cut DoorDash from a "buy" rating to a "hold" rating in a research note on Saturday. Cantor Fitzgerald reissued an "overweight" rating and issued a $330.00 price target on shares of DoorDash in a research report on Wednesday, September 17th. Evercore ISI restated an "outperform" rating and set a $360.00 price target (up from $240.00) on shares of DoorDash in a research note on Friday, August 8th. Benchmark lifted their price objective on shares of DoorDash from $260.00 to $315.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Finally, Truist Financial increased their target price on DoorDash from $272.00 to $326.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and thirteen have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $268.76.

Insider Buying and Selling

In other news, Director Andy Fang sold 50,000 shares of the firm's stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $275.74, for a total value of $13,787,000.00. Following the transaction, the director owned 22,545 shares in the company, valued at approximately $6,216,558.30. This trade represents a 68.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stanley Tang sold 45,410 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $240.69, for a total transaction of $10,929,732.90. Following the sale, the director owned 26,070 shares of the company's stock, valued at $6,274,788.30. This represents a 63.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,020,055 shares of company stock valued at $250,222,491 over the last quarter. Company insiders own 5.83% of the company's stock.

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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