Algert Global LLC Takes Position in DoorDash, Inc. (NASDAQ:DASH)

Algert Global LLC acquired a new stake in DoorDash, Inc. (NASDAQ:DASH) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 3,103 shares of the company’s stock, valued at approximately $338,000.

A number of other large investors have also bought and sold shares of DASH. Jupiter Asset Management Ltd. bought a new stake in shares of DoorDash during the first quarter worth $2,969,000. D L Carlson Investment Group Inc. acquired a new stake in shares of DoorDash in the 4th quarter valued at about $2,421,000. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of DoorDash by 9.0% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 25,807 shares of the company’s stock valued at $2,807,000 after purchasing an additional 2,125 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of DoorDash by 7.4% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 689,785 shares of the company’s stock worth $94,997,000 after buying an additional 47,725 shares during the period. Finally, Versor Investments LP acquired a new position in shares of DoorDash during the second quarter worth about $1,267,000. 90.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on DASH shares. Keefe, Bruyette & Woods upgraded DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 target price on the stock in a research note on Wednesday, September 25th. Barclays boosted their price objective on shares of DoorDash from $113.00 to $120.00 and gave the stock an “equal weight” rating in a research report on Friday, August 2nd. KeyCorp raised shares of DoorDash from a “sector weight” rating to an “overweight” rating and set a $177.00 target price for the company in a research report on Wednesday, September 25th. JPMorgan Chase & Co. boosted their price target on shares of DoorDash from $111.00 to $137.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, Susquehanna raised their price objective on DoorDash from $135.00 to $140.00 and gave the company a “positive” rating in a report on Monday, August 5th. Ten analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, DoorDash has an average rating of “Moderate Buy” and a consensus price target of $146.91.

Insiders Place Their Bets

In other news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $105.57, for a total transaction of $5,278,500.00. Following the completion of the sale, the director now directly owns 19,982 shares in the company, valued at approximately $2,109,499.74. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Tony Xu sold 54,166 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $140.06, for a total transaction of $7,586,489.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $105.57, for a total transaction of $5,278,500.00. Following the completion of the transaction, the director now directly owns 19,982 shares in the company, valued at $2,109,499.74. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 281,503 shares of company stock worth $33,988,063 in the last 90 days. Company insiders own 7.92% of the company’s stock.

DoorDash Stock Performance

Shares of DoorDash stock opened at $143.30 on Wednesday. The firm has a 50-day moving average of $130.49 and a 200-day moving average of $122.28. DoorDash, Inc. has a 52-week low of $69.90 and a 52-week high of $146.36. The stock has a market cap of $58.60 billion, a PE ratio of -132.69, a PEG ratio of 295.70 and a beta of 1.70.

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