Edgestream Partners L.P. Buys Shares of 22,576 DoorDash, Inc. (NASDAQ:DASH)

Edgestream Partners L.P. acquired a new stake in shares of DoorDash, Inc. (NASDAQ:DASH) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 22,576 shares of the company’s stock, valued at approximately $2,456,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Spire Wealth Management bought a new position in DoorDash in the first quarter worth approximately $25,000. Meeder Asset Management Inc. increased its holdings in shares of DoorDash by 82.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock valued at $32,000 after acquiring an additional 132 shares during the period. Headlands Technologies LLC bought a new position in shares of DoorDash in the 2nd quarter worth $32,000. Versant Capital Management Inc raised its position in shares of DoorDash by 340.8% in the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock worth $36,000 after acquiring an additional 259 shares in the last quarter. Finally, ORG Partners LLC lifted its stake in shares of DoorDash by 2,108.3% during the 1st quarter. ORG Partners LLC now owns 265 shares of the company’s stock worth $37,000 after purchasing an additional 253 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors.

DoorDash Stock Performance

NASDAQ:DASH opened at $132.48 on Thursday. The firm’s fifty day moving average is $119.51 and its two-hundred day moving average is $121.34. The firm has a market cap of $54.17 billion, a price-to-earnings ratio of -122.67, a PEG ratio of 275.59 and a beta of 1.69. DoorDash, Inc. has a one year low of $69.90 and a one year high of $143.34.

DoorDash (NASDAQ:DASH) last issued its earnings results on Thursday, August 1st. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.29). The company had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.54 billion. DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. The firm’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.44) EPS. As a group, equities research analysts predict that DoorDash, Inc. will post 0.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. BMO Capital Markets lifted their target price on DoorDash from $127.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Susquehanna boosted their price objective on shares of DoorDash from $135.00 to $140.00 and gave the stock a “positive” rating in a research note on Monday, August 5th. JMP Securities increased their target price on shares of DoorDash from $140.00 to $145.00 and gave the company a “market outperform” rating in a research report on Friday, August 2nd. Roth Mkm raised their target price on shares of DoorDash from $118.00 to $124.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. Finally, Morgan Stanley increased their price objective on DoorDash from $145.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Eleven analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $142.57.

Insiders Place Their Bets

In other news, CEO Tony Xu sold 54,166 shares of DoorDash stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $107.75, for a total transaction of $5,836,386.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Tony Xu sold 54,166 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $107.75, for a total transaction of $5,836,386.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $105.57, for a total value of $5,278,500.00. Following the completion of the transaction, the director now owns 19,982 shares of the company’s stock, valued at approximately $2,109,499.74. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 304,769 shares of company stock worth $34,760,113. Corporate insiders own 7.92% of the company’s stock.

DoorDash 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.