Polar Asset Management Partners Inc. Buys Shares of 17,600 DoorDash, Inc. (NASDAQ:DASH)

Polar Asset Management Partners Inc. purchased a new position in DoorDash, Inc. (NASDAQ:DASH - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 17,600 shares of the company's stock, valued at approximately $2,952,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Norges Bank purchased a new stake in shares of DoorDash in the 4th quarter valued at $597,443,000. Capital World Investors increased its stake in DoorDash by 26.4% during the fourth quarter. Capital World Investors now owns 12,153,265 shares of the company's stock worth $2,038,712,000 after purchasing an additional 2,538,160 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in shares of DoorDash by 67.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company's stock worth $780,858,000 after purchasing an additional 1,869,866 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of DoorDash by 25.0% in the fourth quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company's stock valued at $796,781,000 after purchasing an additional 949,414 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of DoorDash in the fourth quarter valued at approximately $146,094,000. 90.64% of the stock is currently owned by institutional investors and hedge funds.

DoorDash Stock Performance

Shares of DASH stock traded up $4.07 during midday trading on Friday, reaching $208.65. 4,809,477 shares of the company were exchanged, compared to its average volume of 4,205,547. The company's 50 day moving average price is $188.91 and its two-hundred day moving average price is $184.70. The company has a market cap of $88.41 billion, a P/E ratio of 772.78 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 posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.39 by $0.05. DoorDash had a return on equity of 1.67% and a net margin of 1.15%. The company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter in the previous year, the business earned ($0.06) EPS. The company's quarterly revenue was up 20.7% compared to the same quarter last year. As a group, sell-side analysts predict that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Ravi Inukonda sold 14,296 shares of DoorDash stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $205.54, for a total value of $2,938,399.84. Following the transaction, the chief financial officer now directly owns 380,037 shares in the company, valued at $78,112,804.98. The trade was a 3.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Prabir Adarkar sold 15,660 shares of the stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $199.90, for a total value of $3,130,434.00. Following the completion of the transaction, the chief operating officer now owns 954,821 shares of the company's stock, valued at $190,868,717.90. This trade represents a 1.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 222,736 shares of company stock worth $43,334,336 in the last ninety days. 5.83% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently commented on DASH shares. JPMorgan Chase & Co. lowered their target price on DoorDash from $205.00 to $175.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Mizuho boosted their target price on shares of DoorDash from $200.00 to $222.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 12th. Roth Capital set a $191.00 price objective on DoorDash and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Citigroup restated an "outperform" rating on shares of DoorDash in a research note on Monday, April 28th. Finally, Piper Sandler restated a "neutral" rating and set a $210.00 price objective (up previously from $160.00) on shares of DoorDash in a research report on Wednesday, February 12th. Eleven equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $209.97.

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.