Dynamic Technology Lab Private Ltd Decreases Position in DoorDash, Inc. (NASDAQ:DASH)

Dynamic Technology Lab Private Ltd lowered its position in DoorDash, Inc. (NASDAQ:DASH) by 24.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 12,980 shares of the company’s stock after selling 4,103 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in DoorDash were worth $1,853,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in DASH. Asset Management One Co. Ltd. increased its holdings in DoorDash by 10.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 112,181 shares of the company’s stock valued at $16,012,000 after acquiring an additional 10,755 shares in the last quarter. Marshall Wace LLP grew its position in shares of DoorDash by 930.5% in the second quarter. Marshall Wace LLP now owns 675,988 shares of the company’s stock valued at $73,534,000 after purchasing an additional 610,388 shares during the last quarter. Forsta AP Fonden increased its stake in shares of DoorDash by 18.6% during the 3rd quarter. Forsta AP Fonden now owns 64,500 shares of the company’s stock worth $9,206,000 after purchasing an additional 10,100 shares in the last quarter. Baillie Gifford & Co. raised its position in shares of DoorDash by 13.2% during the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock worth $2,018,584,000 after purchasing an additional 1,645,186 shares during the last quarter. Finally, CWM LLC lifted its stake in DoorDash by 97.1% in the 3rd quarter. CWM LLC now owns 10,705 shares of the company’s stock valued at $1,528,000 after buying an additional 5,273 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on DASH shares. Raymond James began coverage on DoorDash in a research report on Tuesday, September 24th. They set an “outperform” rating and a $155.00 price target for the company. Barclays lifted their price objective on DoorDash from $120.00 to $163.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Roth Mkm upped their target price on shares of DoorDash from $118.00 to $124.00 and gave the company a “neutral” rating in a report on Monday, August 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price target on shares of DoorDash in a research note on Monday, October 7th. Finally, Mizuho boosted their price objective on shares of DoorDash from $162.00 to $173.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Ten research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $164.03.

DoorDash Price Performance

NASDAQ:DASH opened at $179.10 on Tuesday. The business’s 50-day moving average is $154.57 and its two-hundred day moving average is $129.52. The firm has a market capitalization of $74.40 billion, a PE ratio of -398.00, a price-to-earnings-growth ratio of 13.63 and a beta of 1.67. DoorDash, Inc. has a 12 month low of $92.56 and a 12 month high of $179.13.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.21 by $0.17. The business had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.66 billion. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The company’s revenue was up 25.0% on a year-over-year basis. During the same period last year, the business posted ($0.19) EPS. Equities analysts anticipate that DoorDash, Inc. will post 0.26 EPS for the current year.

Insider Activity

In other DoorDash news, General Counsel Tia Sherringham sold 12,950 shares of DoorDash stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $169.98, for a total transaction of $2,201,241.00. Following the sale, the general counsel now directly owns 145,917 shares in the company, valued at $24,802,971.66. The trade was a 8.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Tony Xu sold 108,332 shares of DoorDash stock in a transaction on Friday, November 15th. The stock was sold at an average price of $170.25, for a total transaction of $18,443,523.00. Following the completion of the sale, the chief executive officer now owns 1,500 shares of the company’s stock, valued at approximately $255,375. This trade represents a 98.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 547,753 shares of company stock worth $84,544,996 over the last 90 days. Company insiders own 7.92% of the company’s stock.

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.