GCQ FUNDS MANAGEMENT PTY Ltd bought a new position in DoorDash, Inc. (NASDAQ:DASH - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 36,911 shares of the company's stock, valued at approximately $6,811,000. DoorDash comprises about 0.9% of GCQ FUNDS MANAGEMENT PTY Ltd's investment portfolio, making the stock its 14th biggest holding.
A number of other hedge funds also recently made changes to their positions in DASH. MV Capital Management Inc. purchased a new position in DoorDash during the 4th quarter valued at approximately $26,000. Swiss RE Ltd. purchased a new stake in shares of DoorDash during the 4th quarter worth approximately $28,000. ST Germain D J Co. Inc. bought a new position in shares of DoorDash during the 4th quarter valued at approximately $29,000. Kemnay Advisory Services Inc. bought a new position in shares of DoorDash during the 4th quarter valued at approximately $32,000. Finally, Sunbelt Securities Inc. boosted its position in shares of DoorDash by 124.1% during the 3rd quarter. Sunbelt Securities Inc. now owns 121 shares of the company's stock valued at $33,000 after acquiring an additional 67 shares during the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on DASH. DA Davidson reduced their price target on shares of DoorDash from $224.00 to $200.00 and set a "neutral" rating on the stock in a research report on Thursday, May 7th. Bank of America reiterated a "buy" rating on shares of DoorDash in a research report on Thursday, August 6th. BTIG Research reissued a "buy" rating and issued a $225.00 price objective on shares of DoorDash in a research note on Thursday, August 6th. Cantor Fitzgerald boosted their target price on shares of DoorDash from $230.00 to $260.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. Finally, Benchmark reduced their target price on shares of DoorDash from $285.00 to $270.00 and set a "buy" rating on the stock in a report on Monday, August 3rd. Twenty-three equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $254.53.
Read Our Latest Research Report on DoorDash
Insider Transactions at DoorDash
In related news, Director Shona L. Brown sold 582 shares of DoorDash stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $177.06, for a total transaction of $103,048.92. Following the completion of the transaction, the director directly owned 31,156 shares of the company's stock, valued at approximately $5,516,481.36. The trade was a 1.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ravi Inukonda sold 19,095 shares of DoorDash stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $188.04, for a total transaction of $3,590,623.80. Following the transaction, the chief financial officer directly owned 252,443 shares of the company's stock, valued at approximately $47,469,381.72. This represents a 7.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 139,877 shares of company stock worth $26,381,731. 5.28% of the stock is currently owned by insiders.
DoorDash Stock Performance
NASDAQ:DASH opened at $223.49 on Friday. The firm has a market capitalization of $96.84 billion, a PE ratio of 117.01 and a beta of 1.78. The stock's fifty day moving average is $192.75 and its 200 day moving average is $175.44. DoorDash, Inc. has a fifty-two week low of $143.30 and a fifty-two week high of $285.50. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.37 and a current ratio of 1.37.
DoorDash (NASDAQ:DASH - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.01). DoorDash had a return on equity of 8.48% and a net margin of 5.29%.The firm had revenue of $4.45 billion for the quarter, compared to analysts' expectations of $4.34 billion. During the same period in the previous year, the firm earned $0.65 earnings per share. The firm's quarterly revenue was up 35.6% compared to the same quarter last year. On average, sell-side analysts anticipate that DoorDash, Inc. will post 2.46 earnings per share for the current year.
DoorDash Company Profile
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Free Report)
DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company's core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.
In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.
See Also
Want to see what other hedge funds are holding DASH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DoorDash, Inc. (NASDAQ:DASH - Free Report).
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