Voloridge Investment Management LLC Acquires 781,103 Shares of DoorDash, Inc. (NASDAQ:DASH)

Voloridge Investment Management LLC grew its holdings in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 2,183.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 816,881 shares of the company's stock after acquiring an additional 781,103 shares during the quarter. Voloridge Investment Management LLC owned about 0.20% of DoorDash worth $137,032,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of DoorDash by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 31,323,404 shares of the company's stock valued at $5,254,501,000 after acquiring an additional 317,502 shares during the last quarter. Capital World Investors boosted its position in shares of DoorDash by 26.4% during the 4th quarter. Capital World Investors now owns 12,153,265 shares of the company's stock valued at $2,038,712,000 after acquiring an additional 2,538,160 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of DoorDash by 25.0% during the 4th quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company's stock valued at $796,781,000 after acquiring an additional 949,414 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of DoorDash by 67.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company's stock valued at $780,858,000 after acquiring an additional 1,869,866 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of DoorDash by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 4,558,821 shares of the company's stock valued at $763,198,000 after acquiring an additional 86,667 shares during the last quarter. Institutional investors own 90.64% of the company's stock.

DoorDash Price Performance

Shares of NASDAQ:DASH opened at $202.18 on Tuesday. The company has a market cap of $85.67 billion, a P/E ratio of 748.81 and a beta of 1.68. DoorDash, Inc. has a 1 year low of $99.32 and a 1 year high of $215.25. The stock's fifty day moving average price is $186.32 and its 200-day moving average price is $182.84.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.39 by $0.05. The firm had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.10 billion. DoorDash had a return on equity of 1.67% and a net margin of 1.15%. The company's quarterly revenue was up 20.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.06) earnings per share. On average, sell-side analysts anticipate that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on DASH shares. Wedbush restated an "outperform" rating on shares of DoorDash in a research report on Wednesday, May 7th. Piper Sandler reaffirmed a "neutral" rating and issued a $210.00 price target (up from $160.00) on shares of DoorDash in a research note on Wednesday, February 12th. Morgan Stanley reduced their target price on DoorDash from $245.00 to $210.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. FBN Securities began coverage on DoorDash in a research note on Friday, March 28th. They set an "outperform" rating and a $230.00 target price on the stock. Finally, Wells Fargo & Company reduced their target price on DoorDash from $201.00 to $198.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 7th. Ten investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $209.97.

Insider Activity at DoorDash

In related news, CFO Ravi Inukonda sold 15,198 shares of the company's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $204.11, for a total transaction of $3,102,063.78. Following the completion of the sale, the chief financial officer now owns 351,970 shares in the company, valued at approximately $71,840,596.70. This represents a 4.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stanley Tang sold 45,410 shares of the company's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $181.21, for a total value of $8,228,746.10. Following the completion of the sale, the director now owns 18,285 shares of the company's stock, valued at approximately $3,313,424.85. The trade was a 71.29% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 158,573 shares of company stock worth $30,407,073. 5.83% of the stock is owned by insiders.

DoorDash Company 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.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.