Seven Eight Capital LP Acquires New Holdings in DoorDash, Inc. (NASDAQ:DASH)

Seven Eight Capital LP bought a new stake in DoorDash, Inc. (NASDAQ:DASH) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 15,618 shares of the company’s stock, valued at approximately $1,699,000.

Other hedge funds also recently bought and sold shares of the company. Blair William & Co. IL acquired a new stake in DoorDash during the 2nd quarter worth $395,000. Elo Mutual Pension Insurance Co increased its holdings in shares of DoorDash by 7.2% in the second quarter. Elo Mutual Pension Insurance Co now owns 25,420 shares of the company’s stock worth $2,764,000 after acquiring an additional 1,707 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its position in shares of DoorDash by 11.6% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 21,743 shares of the company’s stock worth $2,365,000 after purchasing an additional 2,265 shares during the period. Amalgamated Bank lifted its holdings in shares of DoorDash by 13.4% during the 2nd quarter. Amalgamated Bank now owns 22,880 shares of the company’s stock valued at $2,489,000 after purchasing an additional 2,710 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. grew its position in shares of DoorDash by 4.9% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,840 shares of the company’s stock valued at $418,000 after purchasing an additional 180 shares during the period. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on DASH. Benchmark restated a “buy” rating and set a $150.00 target price on shares of DoorDash in a report on Tuesday, July 30th. JMP Securities boosted their price objective 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. Cantor Fitzgerald started coverage on DoorDash in a report on Thursday, September 5th. They set an “overweight” rating and a $160.00 target price for the company. Wells Fargo & Company boosted their price target on DoorDash from $125.00 to $127.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Finally, Susquehanna increased their price objective on DoorDash from $135.00 to $140.00 and gave the stock a “positive” rating in a report on Monday, August 5th. Eleven analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat.com, DoorDash has an average rating of “Moderate Buy” and an average price target of $142.57.

Insider Transactions at DoorDash

In other news, Director Shona L. Brown sold 1,712 shares of the stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $110.97, for a total transaction of $189,980.64. Following the transaction, the director now owns 70,191 shares in the company, valued at $7,789,095.27. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other DoorDash news, CEO Tony Xu sold 54,166 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $107.75, for a total value of $5,836,386.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Shona L. Brown sold 1,712 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $110.97, for a total transaction of $189,980.64. Following the transaction, the director now directly owns 70,191 shares in the company, valued at $7,789,095.27. The disclosure for this sale can be found here. Insiders sold a total of 304,769 shares of company stock worth $34,760,113 over the last quarter. Company insiders own 7.92% of the company’s stock.

DoorDash Price Performance

DASH stock opened at $132.48 on Thursday. DoorDash, Inc. has a one year low of $69.90 and a one year high of $143.34. The stock has a market cap of $54.17 billion, a price-to-earnings ratio of -122.67, a price-to-earnings-growth ratio of 275.59 and a beta of 1.69. The company has a fifty day moving average price of $119.51 and a two-hundred day moving average price of $121.34.

DoorDash (NASDAQ:DASH) last announced its earnings results on Thursday, August 1st. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.29). The company had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.54 billion. DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. The business’s quarterly revenue was up 23.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.44) EPS. Research analysts anticipate that DoorDash, Inc. will post 0.01 EPS for the current fiscal 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.