Tiger Global Management LLC raised its holdings in DoorDash, Inc. (NYSE:DASH – Get Rating) by 19.6% in the 3rd quarter, HoldingsChannel reports. The firm owned 3,656,847 shares of the company's stock after purchasing an additional 598,123 shares during the quarter. DoorDash accounts for approximately 1.7% of Tiger Global Management LLC's portfolio, making the stock its 18th largest position. Tiger Global Management LLC's holdings in DoorDash were worth $180,831,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of DASH. Wipfli Financial Advisors LLC bought a new position in DoorDash in the 3rd quarter worth approximately $25,000. Sentry Investment Management LLC bought a new stake in shares of DoorDash during the third quarter worth $33,000. Alpha Paradigm Partners LLC acquired a new position in shares of DoorDash during the second quarter valued at $45,000. Signaturefd LLC boosted its holdings in DoorDash by 793.3% in the third quarter. Signaturefd LLC now owns 929 shares of the company's stock valued at $46,000 after acquiring an additional 825 shares during the last quarter. Finally, Eisler Capital UK Ltd. bought a new position in DoorDash in the third quarter valued at about $52,000. Institutional investors and hedge funds own 72.65% of the company's stock.
Get DoorDash alerts:Analysts Set New Price Targets
DASH has been the topic of a number of research reports. Needham & Company LLC upped their target price on shares of DoorDash from $75.00 to $84.00 and gave the company a "buy" rating in a research report on Friday, February 17th. Jefferies Financial Group began coverage on shares of DoorDash in a report on Monday, January 9th. They issued an "underperform" rating and a $37.00 price objective on the stock. Barclays upped their target price on shares of DoorDash from $60.00 to $70.00 in a research report on Friday, February 17th. Moffett Nathanson started coverage on DoorDash in a research report on Monday, January 30th. They issued an "outperform" rating and a $79.00 price target on the stock. Finally, Oppenheimer lifted their price objective on DoorDash from $70.00 to $80.00 and gave the stock an "outperform" rating in a research note on Friday, February 17th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $80.95.
Insider Activity at DoorDash
In other DoorDash news, COO Christopher D. Payne sold 47,093 shares of the company's stock in a transaction that occurred on Friday, December 9th. The stock was sold at an average price of $54.58, for a total transaction of $2,570,335.94. Following the completion of the transaction, the chief operating officer now owns 353,943 shares of the company's stock, valued at approximately $19,318,208.94. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, COO Christopher D. Payne sold 47,093 shares of the firm's stock in a transaction dated Friday, December 9th. The stock was sold at an average price of $54.58, for a total value of $2,570,335.94. Following the completion of the transaction, the chief operating officer now owns 353,943 shares in the company, valued at approximately $19,318,208.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stanley Tang sold 93,000 shares of the company's stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $54.32, for a total value of $5,051,760.00. Following the sale, the director now owns 31,759 shares in the company, valued at approximately $1,725,148.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 221,967 shares of company stock valued at $12,006,456. 12.10% of the stock is owned by insiders.
DoorDash Stock Up 0.8 %
Shares of NYSE:DASH traded up $0.49 during midday trading on Wednesday, reaching $58.65. 2,176,040 shares of the company were exchanged, compared to its average volume of 5,266,451. The firm has a market cap of $23.00 billion, a PE ratio of -15.99 and a beta of 1.45. DoorDash, Inc. has a fifty-two week low of $41.37 and a fifty-two week high of $130.20. The stock has a fifty day simple moving average of $56.07 and a two-hundred day simple moving average of $54.94.
DoorDash (NYSE:DASH – Get Rating) last released its earnings results on Thursday, February 16th. The company reported ($0.63) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.70) by $0.07. The firm had revenue of $1.82 billion during the quarter, compared to analysts' expectations of $1.77 billion. DoorDash had a negative return on equity of 15.12% and a negative net margin of 20.74%. As a group, analysts forecast that DoorDash, Inc. will post -2.16 earnings per share for the current year.
About DoorDash
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DoorDash, Inc operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash marketplace, which provides an array of services that enable merchants to solve mission-critical challenges, such as customer acquisition, delivery, insights and analytics, merchandising, payment processing, and customer support; and offers DoorDash Drive, a white-label logistics service; DoorDash Storefront that enables merchants to offer consumers on-demand access to e-commerce.
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