Moore Capital Management LP Buys 106,409 Shares of DoorDash, Inc. (NASDAQ:DASH)

Moore Capital Management LP raised its position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 501.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 127,627 shares of the company's stock after buying an additional 106,409 shares during the period. Moore Capital Management LP's holdings in DoorDash were worth $21,409,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Pittenger & Anderson Inc. bought a new position in shares of DoorDash in the 4th quarter worth $29,000. Denver PWM LLC bought a new position in shares of DoorDash during the 4th quarter worth approximately $30,000. Princeton Global Asset Management LLC acquired a new stake in DoorDash during the fourth quarter worth approximately $34,000. IFP Advisors Inc raised its stake in DoorDash by 31.8% in the 4th quarter. IFP Advisors Inc now owns 224 shares of the company's stock worth $37,000 after purchasing an additional 54 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in DoorDash by 34.0% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 272 shares of the company's stock valued at $46,000 after acquiring an additional 69 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company's stock.

Insiders Place Their Bets

In other news, CFO Ravi Inukonda sold 15,198 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $204.11, for a total value of $3,102,063.78. Following the sale, the chief financial officer now directly 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Andy Fang sold 1,398 shares of the business's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $203.45, for a total transaction of $284,423.10. Following the completion of the sale, the director now directly owns 14,778 shares of the company's stock, valued at approximately $3,006,584.10. This trade represents a 8.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 158,573 shares of company stock worth $30,407,073 over the last quarter. 5.83% of the stock is currently owned by corporate insiders.

DoorDash Stock Up 0.1%

Shares of DASH stock traded up $0.26 during mid-day trading on Thursday, reaching $197.10. 3,558,291 shares of the company's stock traded hands, compared to its average volume of 4,172,802. The company's 50-day moving average price is $185.28 and its 200-day moving average price is $181.52. DoorDash, Inc. has a 12 month low of $99.32 and a 12 month high of $215.25. The company has a market cap of $82.80 billion, a P/E ratio of 730.00 and a beta of 1.68.

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on DASH shares. JMP Securities restated a "market outperform" rating and issued a $225.00 price target on shares of DoorDash in a research note on Monday, April 28th. Piper Sandler reiterated a "neutral" rating and issued a $210.00 target price (up from $160.00) on shares of DoorDash in a report on Wednesday, February 12th. BMO Capital Markets restated an "outperform" rating on shares of DoorDash in a research note on Tuesday, April 29th. DA Davidson lifted their target price on shares of DoorDash from $150.00 to $190.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Finally, Morgan Stanley cut their price target on shares of DoorDash from $245.00 to $210.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Ten investment 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.com, the company presently has an average rating of "Moderate Buy" and an average target price of $209.97.

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.