West Tower Group LLC Takes Position in DoorDash, Inc. (NASDAQ:DASH)

West Tower Group LLC purchased a new stake in shares of DoorDash, Inc. (NASDAQ:DASH) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 1,000 shares of the company’s stock, valued at approximately $143,000.

Several other institutional investors have also made changes to their positions in the company. Loomis Sayles & Co. L P lifted its holdings in shares of DoorDash by 1,100.6% during the 3rd quarter. Loomis Sayles & Co. L P now owns 6,531 shares of the company’s stock valued at $932,000 after buying an additional 5,987 shares during the last quarter. DRW Securities LLC acquired a new stake in shares of DoorDash during the 3rd quarter valued at about $289,000. Harvest Fund Management Co. Ltd lifted its holdings in shares of DoorDash by 89.6% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 23,430 shares of the company’s stock valued at $3,343,000 after buying an additional 11,071 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in shares of DoorDash by 9.9% in the 3rd quarter. Daiwa Securities Group Inc. now owns 64,204 shares of the company’s stock valued at $9,164,000 after acquiring an additional 5,784 shares in the last quarter. Finally, Summit Trail Advisors LLC raised its stake in shares of DoorDash by 1.6% in the 3rd quarter. Summit Trail Advisors LLC now owns 38,730 shares of the company’s stock valued at $5,528,000 after acquiring an additional 600 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on DASH. JMP Securities raised their price objective on DoorDash from $160.00 to $190.00 and gave the company a “market outperform” rating in a research note on Thursday, October 31st. The Goldman Sachs Group raised their price objective on DoorDash from $142.00 to $161.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Mizuho raised their price objective on DoorDash from $162.00 to $173.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Oppenheimer raised their price objective on DoorDash from $145.00 to $160.00 and gave the company an “outperform” rating in a research note on Friday, September 27th. Finally, KeyCorp lifted their price target on DoorDash from $177.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Ten analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $164.03.

DoorDash Stock Performance

DoorDash stock opened at $179.10 on Tuesday. The firm has a market cap of $74.40 billion, a P/E ratio of -398.00, a P/E/G ratio of 13.63 and a beta of 1.67. The business’s fifty day moving average is $154.57 and its two-hundred day moving average is $129.52. DoorDash, Inc. has a 52 week low of $92.56 and a 52 week high of $179.13.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.17. The company had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.66 billion. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The business’s revenue was up 25.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.19) earnings per share. On average, equities research analysts predict that DoorDash, Inc. will post 0.26 earnings per share for the current year.

Insider Transactions at DoorDash

In other news, insider Keith Yandell sold 7,980 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $169.98, for a total transaction of $1,356,440.40. Following the completion of the sale, the insider now owns 124,221 shares in the company, valued at $21,115,085.58. The trade was a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Tony Xu sold 108,332 shares of the business’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $170.25, for a total value of $18,443,523.00. Following the sale, the chief executive officer now owns 1,500 shares of the company’s stock, valued at approximately $255,375. The trade was a 98.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 547,753 shares of company stock worth $84,544,996 over the last 90 days. 7.92% 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.