Yong Rong HK Asset Management Ltd Invests $28.43 Million in DoorDash, Inc. (NASDAQ:DASH)

Yong Rong HK Asset Management Ltd bought a new stake in shares of DoorDash, Inc. (NASDAQ:DASH) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 199,150 shares of the company’s stock, valued at approximately $28,425,000. DoorDash accounts for 8.2% of Yong Rong HK Asset Management Ltd’s holdings, making the stock its 6th biggest holding.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Marshall Wace LLP increased its position in DoorDash by 930.5% in the second quarter. Marshall Wace LLP now owns 675,988 shares of the company’s stock worth $73,534,000 after buying an additional 610,388 shares in the last quarter. Forsta AP Fonden lifted its holdings in DoorDash by 18.6% during the third quarter. Forsta AP Fonden now owns 64,500 shares of the company’s stock valued at $9,206,000 after purchasing an additional 10,100 shares in the last quarter. Jupiter Asset Management Ltd. bought a new position in shares of DoorDash in the first quarter worth approximately $2,969,000. CWM LLC increased its stake in shares of DoorDash by 97.1% in the third quarter. CWM LLC now owns 10,705 shares of the company’s stock worth $1,528,000 after purchasing an additional 5,273 shares in the last quarter. Finally, Paragon Capital Management Inc. bought a new stake in shares of DoorDash during the 2nd quarter valued at $1,309,000. 90.64% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at DoorDash

In other news, CEO Tony Xu sold 81,249 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $147.87, for a total transaction of $12,014,289.63. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Shona L. Brown sold 5,005 shares of DoorDash stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $120.00, for a total value of $600,600.00. Following the completion of the sale, the director now directly owns 65,186 shares in the company, valued at $7,822,320. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Tony Xu sold 81,249 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $147.87, for a total transaction of $12,014,289.63. The disclosure for this sale can be found here. Insiders sold a total of 383,710 shares of company stock valued at $53,725,640 in the last three months. Company insiders own 7.92% of the company’s stock.

DoorDash Stock Down 0.7 %

Shares of DoorDash stock opened at $155.66 on Friday. The stock’s fifty day moving average is $140.40 and its two-hundred day moving average is $124.21. DoorDash, Inc. has a 52 week low of $83.58 and a 52 week high of $165.07. The company has a market capitalization of $64.06 billion, a PE ratio of -345.91, a price-to-earnings-growth ratio of 331.02 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.17. The firm had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.46%. The business’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.19) earnings per share. As a group, research analysts anticipate that DoorDash, Inc. will post 0.01 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on DASH. Redburn Atlantic began coverage on shares of DoorDash in a report on Friday, July 26th. They issued a “buy” rating and a $170.00 target price for the company. Keefe, Bruyette & Woods raised DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 price objective for the company in a research note on Wednesday, September 25th. JMP Securities lifted their target price on DoorDash from $160.00 to $190.00 and gave the company a “market outperform” rating in a research note on Thursday. Evercore ISI upped their price target on DoorDash from $155.00 to $200.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Oppenheimer boosted their target price on shares of DoorDash from $145.00 to $160.00 and gave the stock an “outperform” rating in a report on Friday, September 27th. Ten research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $163.12.

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.