Octahedron Capital Management L.P. Boosts Stock Holdings in DoorDash, Inc. (NASDAQ:DASH)

Octahedron Capital Management L.P. grew its position in DoorDash, Inc. (NASDAQ:DASH) by 209.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 51,700 shares of the company’s stock after purchasing an additional 35,000 shares during the quarter. DoorDash makes up about 5.6% of Octahedron Capital Management L.P.’s portfolio, making the stock its 7th largest position. Octahedron Capital Management L.P.’s holdings in DoorDash were worth $5,624,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Private Advisor Group LLC bought a new position in DoorDash during the fourth quarter worth $219,000. Envestnet Portfolio Solutions Inc. bought a new position in DoorDash during the fourth quarter worth $285,000. Principal Financial Group Inc. boosted its stake in DoorDash by 331.0% during the fourth quarter. Principal Financial Group Inc. now owns 148,175 shares of the company’s stock worth $14,653,000 after acquiring an additional 113,792 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in DoorDash by 40.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 15,431 shares of the company’s stock worth $1,526,000 after acquiring an additional 4,475 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in DoorDash by 102.5% during the fourth quarter. Wells Fargo & Company MN now owns 199,152 shares of the company’s stock worth $19,694,000 after acquiring an additional 100,787 shares in the last quarter. 90.64% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Tony Xu sold 54,166 shares of DoorDash stock in a transaction on Monday, July 15th. The shares were sold at an average price of $104.96, for a total value of $5,685,263.36. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other DoorDash news, Director Shona L. Brown sold 1,712 shares of the business’s stock in a transaction on Tuesday, June 25th. The shares were 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 of the company’s stock, valued at approximately $7,789,095.27. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Tony Xu sold 54,166 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $104.96, for a total transaction of $5,685,263.36. The disclosure for this sale can be found here. Insiders have sold a total of 304,769 shares of company stock valued at $34,760,113 over the last three months. 7.92% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Benchmark reaffirmed a “buy” rating and issued a $150.00 price objective on shares of DoorDash in a research note on Tuesday, July 30th. Susquehanna raised their price objective on shares of DoorDash from $135.00 to $140.00 and gave the company a “positive” rating in a research note on Monday, August 5th. BTIG Research raised shares of DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 price objective on the stock in a research note on Thursday. Wells Fargo & Company raised their price objective on shares of DoorDash from $125.00 to $127.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Finally, Truist Financial raised their price objective on shares of DoorDash from $145.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Eleven equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, DoorDash currently has a consensus rating of “Moderate Buy” and an average target price of $143.00.

DoorDash Price Performance

Shares of DoorDash stock opened at $139.72 on Friday. DoorDash, Inc. has a 1 year low of $69.90 and a 1 year high of $143.34. The firm has a market cap of $57.13 billion, a PE ratio of -129.37, a PEG ratio of 275.59 and a beta of 1.69. The company has a 50 day simple moving average of $120.68 and a two-hundred day simple moving average of $121.53.

DoorDash (NASDAQ:DASH) last posted its quarterly 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 business had revenue of $2.63 billion for 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 company’s revenue was up 23.3% compared to the same quarter last year. During the same period last year, the business posted ($0.44) earnings per share. As a group, research analysts anticipate that DoorDash, Inc. will post 0.01 earnings per share for the current year.

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.