Picton Mahoney Asset Management Invests $10.16 Million in DoorDash, Inc. (NASDAQ:DASH)

Picton Mahoney Asset Management purchased a new stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 102,737 shares of the company's stock, valued at approximately $10,161,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DASH. Fifth Third Bancorp grew its stake in shares of DoorDash by 448.8% during the third quarter. Fifth Third Bancorp now owns 439 shares of the company's stock valued at $35,000 after buying an additional 359 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in DoorDash by 361.2% in the fourth quarter. Parkside Financial Bank & Trust now owns 392 shares of the company's stock worth $39,000 after purchasing an additional 307 shares during the period. Covestor Ltd lifted its position in shares of DoorDash by 101.2% during the third quarter. Covestor Ltd now owns 503 shares of the company's stock worth $40,000 after purchasing an additional 253 shares during the last quarter. Valley National Advisers Inc. purchased a new stake in shares of DoorDash during the fourth quarter valued at $43,000. Finally, SJS Investment Consulting Inc. grew its holdings in shares of DoorDash by 26.9% in the fourth quarter. SJS Investment Consulting Inc. now owns 462 shares of the company's stock worth $46,000 after purchasing an additional 98 shares during the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

DoorDash Stock Down 1.7 %

Shares of DASH traded down $2.03 during trading hours on Tuesday, reaching $115.56. 5,138,800 shares of the company traded hands, compared to its average volume of 3,919,864. The business has a fifty day moving average price of $131.81 and a 200-day moving average price of $110.94. DoorDash, Inc. has a 12-month low of $62.83 and a 12-month high of $143.34. The stock has a market capitalization of $46.69 billion, a P/E ratio of -107.00, a P/E/G ratio of 15.89 and a beta of 1.78.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.01. DoorDash had a negative return on equity of 6.28% and a negative net margin of 4.61%. The business had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.45 billion. During the same quarter in the previous year, the business earned ($0.41) EPS. The company's quarterly revenue was up 23.5% compared to the same quarter last year. As a group, research analysts predict that DoorDash, Inc. will post 0.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on DASH. Loop Capital initiated coverage on shares of DoorDash in a research note on Friday, April 19th. They issued a "buy" rating and a $170.00 target price on the stock. Oppenheimer raised their price objective on DoorDash from $140.00 to $150.00 and gave the stock an "outperform" rating in a report on Monday, April 29th. Truist Financial lowered their target price on DoorDash from $155.00 to $145.00 and set a "buy" rating for the company in a report on Thursday, May 2nd. Wedbush restated a "neutral" rating and issued a $115.00 price objective on shares of DoorDash in a report on Thursday, May 2nd. Finally, Jefferies Financial Group upgraded shares of DoorDash from a "hold" rating to a "buy" rating and increased their target price for the stock from $90.00 to $130.00 in a report on Monday, January 8th. Nine research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $129.96.

Insider Buying and Selling

In other DoorDash news, General Counsel Tia Sherringham sold 1,880 shares of DoorDash stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $120.15, for a total transaction of $225,882.00. Following the completion of the sale, the general counsel now directly owns 217,260 shares in the company, valued at approximately $26,103,789. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CAO Gordon S. Lee sold 1,000 shares of the firm's stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $124.50, for a total transaction of $124,500.00. Following the sale, the chief accounting officer now directly owns 92,207 shares of the company's stock, valued at $11,479,771.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Tia Sherringham sold 1,880 shares of the business's stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $120.15, for a total value of $225,882.00. Following the completion of the transaction, the general counsel now directly owns 217,260 shares of the company's stock, valued at $26,103,789. The disclosure for this sale can be found here. In the last quarter, insiders have sold 487,082 shares of company stock worth $63,970,010. 9.59% of the stock is owned by company insiders.

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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