Sienna Gestion Makes New $3.43 Million Investment in DoorDash, Inc. (NASDAQ:DASH)

Sienna Gestion acquired a new stake in DoorDash, Inc. (NASDAQ:DASH) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 31,536 shares of the company’s stock, valued at approximately $3,429,000.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on DASH shares. Susquehanna boosted their price objective on DoorDash from $135.00 to $140.00 and gave the stock a “positive” rating in a research report on Monday, August 5th. JMP Securities raised their price objective on shares of DoorDash from $140.00 to $145.00 and gave the company a “market outperform” rating in a report on Friday, August 2nd. Roth Mkm lifted their price objective on shares of DoorDash from $118.00 to $124.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Piper Sandler reissued a “neutral” rating and issued a $125.00 target price (up previously from $115.00) on shares of DoorDash in a report on Friday, August 2nd. Finally, KeyCorp initiated coverage on DoorDash in a report on Thursday, July 11th. They set a “sector weight” rating for the company. Eleven research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $142.57.

DoorDash Stock Up 2.0 %

Shares of DoorDash stock opened at $132.48 on Thursday. The firm 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. DoorDash, Inc. has a 52-week low of $69.90 and a 52-week high of $143.34. The company’s 50-day simple moving average is $119.51 and its 200-day simple moving average is $121.34.

DoorDash (NASDAQ:DASH) last released its earnings results on Thursday, August 1st. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.29). The business had revenue of $2.63 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up 23.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.44) EPS. Equities research analysts anticipate that DoorDash, Inc. will post 0.01 EPS for the current year.

Insiders Place Their Bets

In other DoorDash news, insider Keith Yandell sold 6,554 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $107.75, for a total transaction of $706,193.50. Following the sale, the insider now directly owns 155,097 shares in the company, valued at approximately $16,711,701.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Shona L. Brown sold 1,712 shares of DoorDash stock in a transaction 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 completion of the transaction, the director now directly owns 70,191 shares of the company’s stock, valued at $7,789,095.27. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Keith Yandell sold 6,554 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $107.75, for a total value of $706,193.50. Following the completion of the sale, the insider now directly owns 155,097 shares in the company, valued at approximately $16,711,701.75. The disclosure for this sale can be found here. Over the last quarter, insiders sold 304,769 shares of company stock worth $34,760,113. 7.92% of the stock is owned by corporate insiders.

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.