Polar Asset Management Partners Inc. Makes New $2.95 Million Investment in DoorDash, Inc. (NASDAQ:DASH)

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

Several other hedge funds have also recently modified their holdings of DASH. Pittenger & Anderson Inc. purchased a new stake in DoorDash during the fourth quarter valued at $29,000. Denver PWM LLC bought a new position in DoorDash during the fourth quarter valued at $30,000. Princeton Global Asset Management LLC bought a new position in DoorDash during the fourth quarter valued at $34,000. IFP Advisors Inc increased its position in DoorDash by 31.8% during the fourth quarter. IFP Advisors Inc now owns 224 shares of the company's stock valued at $37,000 after acquiring an additional 54 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its position in DoorDash by 34.0% during the fourth 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 during the last quarter. Hedge funds and other institutional investors own 90.64% of the company's stock.

Insider Buying and Selling

In related news, CFO Ravi Inukonda sold 15,198 shares of DoorDash stock in a transaction on Thursday, February 20th. The shares were 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 owns 351,970 shares of the company's stock, valued at approximately $71,840,596.70. This trade represents a 4.14% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andy Fang sold 1,398 shares of DoorDash stock in a transaction on 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 in the company, valued at $3,006,584.10. This represents a 8.64% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 158,573 shares of company stock worth $30,407,073. 5.83% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have weighed in on DASH. Citigroup reiterated an "outperform" rating on shares of DoorDash in a research report on Monday, April 28th. Royal Bank of Canada reiterated an "outperform" rating and set a $230.00 price objective on shares of DoorDash in a research report on Wednesday, May 7th. Mizuho boosted their price objective on shares of DoorDash from $200.00 to $222.00 and gave the company an "outperform" rating in a research report on Wednesday, February 12th. Loop Capital boosted their price objective on shares of DoorDash from $200.00 to $235.00 and gave the company a "buy" rating in a research report on Monday, February 24th. Finally, KeyCorp cut their price target on shares of DoorDash from $240.00 to $230.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. Ten equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $209.97.

DoorDash Stock Up 1.5%

Shares of DoorDash stock traded up $3.00 during midday trading on Tuesday, hitting $205.18. The company had a trading volume of 6,046,033 shares, compared to its average volume of 4,170,331. The stock has a market cap of $86.94 billion, a price-to-earnings ratio of 759.93 and a beta of 1.68. The company has a fifty day simple moving average of $186.32 and a 200 day simple moving average of $182.84. 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 announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.39 by $0.05. DoorDash had a net margin of 1.15% and a return on equity of 1.67%. The firm had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same period last year, the firm posted ($0.06) EPS. DoorDash's revenue was up 20.7% on a year-over-year basis. As a group, analysts expect that DoorDash, Inc. will post 2.22 EPS for the current year.

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.