DoorDash, Inc. (NASDAQ:DASH) Shares Sold by Bridgewater Associates LP

Bridgewater Associates LP reduced its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 55.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 302,506 shares of the company’s stock after selling 377,704 shares during the period. Bridgewater Associates LP owned approximately 0.07% of DoorDash worth $43,177,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Lazard Asset Management LLC raised its position in shares of DoorDash by 18,975.0% during the 1st quarter. Lazard Asset Management LLC now owns 2,289 shares of the company’s stock worth $314,000 after purchasing an additional 2,277 shares during the last quarter. California State Teachers Retirement System increased its holdings in shares of DoorDash by 1.6% during the 1st quarter. California State Teachers Retirement System now owns 427,904 shares of the company’s stock worth $58,931,000 after buying an additional 6,802 shares during the last quarter. Tidal Investments LLC increased its stake in DoorDash by 658.5% during the first quarter. Tidal Investments LLC now owns 35,045 shares of the company’s stock worth $4,826,000 after acquiring an additional 30,425 shares during the last quarter. Comerica Bank increased its position in DoorDash by 8.9% during the 1st quarter. Comerica Bank now owns 20,159 shares of the company’s stock worth $2,776,000 after purchasing an additional 1,650 shares in the last quarter. Finally, iA Global Asset Management Inc. raised its holdings in DoorDash by 10.7% in the first quarter. iA Global Asset Management Inc. now owns 36,918 shares of the company’s stock valued at $5,084,000 after buying an additional 3,574 shares during the period. 90.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on DASH shares. Benchmark raised their target price on shares of DoorDash from $152.00 to $173.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Bank of America upped their target price on DoorDash from $168.00 to $172.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Evercore ISI raised their target price on DoorDash from $155.00 to $200.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Barclays upped their price target on DoorDash from $120.00 to $163.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Finally, KeyCorp lifted their price objective on shares of DoorDash from $177.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Ten equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat, DoorDash currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.03.

Insider Buying and Selling at DoorDash

In other DoorDash news, CEO Tony Xu sold 54,166 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $140.06, for a total transaction of $7,586,489.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Ravi Inukonda sold 7,000 shares of the business’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $127.86, for a total value of $895,020.00. Following the completion of the sale, the chief financial officer now directly owns 396,152 shares in the company, valued at $50,651,994.72. This represents a 1.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 553,262 shares of company stock valued at $85,515,902 in the last quarter. Corporate insiders own 7.92% of the company’s stock.

DoorDash Stock Performance

DASH stock opened at $179.01 on Wednesday. The stock has a market capitalization of $74.36 billion, a price-to-earnings ratio of -397.80, a PEG ratio of 13.77 and a beta of 1.67. The stock’s fifty day moving average is $154.57 and its two-hundred day moving average is $129.52. DoorDash, Inc. has a 1 year low of $92.56 and a 1 year high of $181.30.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.21 by $0.17. The company had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. DoorDash’s revenue was up 25.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.19) earnings per share. As a group, analysts predict that DoorDash, Inc. will post 0.26 EPS 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.