Picton Mahoney Asset Management Acquires 1,389 Shares of DoorDash, Inc. (NASDAQ:DASH)

Key Points

• Picton Mahoney Asset Management increased its stake in DoorDash, Inc. by 1.0% during Q1, now holding 136,081 shares valued at approximately $24.87 million.
• DoorDash reported a quarterly EPS of $0.44, exceeding expectations, but its revenue of $3.03 billion fell short of the forecasted $3.10 billion.
• Insiders have sold a significant amount of stock in recent months, with CEO Tony Xu selling 44,244 shares worth nearly $9.77 million, reducing his position by 7.84%.

Picton Mahoney Asset Management raised its holdings in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 1.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 136,081 shares of the company's stock after purchasing an additional 1,389 shares during the period. Picton Mahoney Asset Management's holdings in DoorDash were worth $24,870,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC boosted its position in shares of DoorDash by 24.0% during the fourth quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock valued at $1,566,000 after buying an additional 1,807 shares during the last quarter. LPL Financial LLC boosted its holdings in shares of DoorDash by 23.0% during the 4th quarter. LPL Financial LLC now owns 75,192 shares of the company's stock valued at $12,613,000 after acquiring an additional 14,037 shares during the last quarter. Corebridge Financial Inc. grew its stake in shares of DoorDash by 0.6% in the fourth quarter. Corebridge Financial Inc. now owns 25,296 shares of the company's stock worth $4,243,000 after acquiring an additional 148 shares during the period. Prudential Financial Inc. grew its stake in shares of DoorDash by 1.4% in the fourth quarter. Prudential Financial Inc. now owns 12,181 shares of the company's stock worth $2,043,000 after acquiring an additional 165 shares during the period. Finally, Blair William & Co. IL raised its holdings in shares of DoorDash by 18.2% during the fourth quarter. Blair William & Co. IL now owns 4,304 shares of the company's stock valued at $722,000 after purchasing an additional 664 shares during the last quarter. Institutional investors own 90.64% of the company's stock.

DoorDash Stock Down 1.4%

Shares of DoorDash stock opened at $246.44 on Tuesday. DoorDash, Inc. has a twelve month low of $104.62 and a twelve month high of $250.71. The business has a 50-day moving average price of $227.18 and a 200-day moving average price of $201.75. The firm has a market cap of $104.43 billion, a price-to-earnings ratio of 320.06 and a beta of 1.70.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.39 by $0.05. DoorDash had a return on equity of 4.39% and a net margin of 3.02%. The company had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same period in the prior year, the company earned ($0.06) earnings per share. The firm's revenue was up 20.7% on a year-over-year basis. On average, equities analysts expect that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Insider Buying and Selling at DoorDash

In other news, CEO Tony Xu sold 44,244 shares of the business's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $220.71, for a total value of $9,765,093.24. Following the sale, the chief executive officer directly owned 520,450 shares in the company, valued at $114,868,519.50. The trade was a 7.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Andy Fang sold 30,000 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $217.52, for a total transaction of $6,525,600.00. Following the sale, the director owned 22,545 shares in the company, valued at $4,903,988.40. This represents a 57.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 471,773 shares of company stock valued at $106,001,643. 5.83% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have commented on DASH. BMO Capital Markets reaffirmed an "outperform" rating on shares of DoorDash in a research report on Tuesday, April 29th. Roth Capital raised their price target on DoorDash from $191.00 to $225.00 and gave the stock a "neutral" rating in a research note on Monday, July 14th. UBS Group reduced their price objective on DoorDash from $197.00 to $196.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Citigroup reissued an "outperform" rating on shares of DoorDash in a research report on Thursday, June 12th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $230.00 price target on shares of DoorDash in a research report on Wednesday, May 7th. Eleven equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $232.12.

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.

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