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

Bridgewater Associates LP decreased its stake in DoorDash, Inc. (NASDAQ:DASH) by 55.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 302,506 shares of the company’s stock after selling 377,704 shares during the quarter. Bridgewater Associates LP’s holdings in DoorDash were worth $43,177,000 as of its most recent filing with the Securities & Exchange Commission.

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

DoorDash Stock Down 0.1 %

Shares of NASDAQ:DASH opened at $179.01 on Wednesday. The company has a market cap 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 business has a 50 day moving average price of $154.57 and a 200 day moving average price of $129.52. DoorDash, Inc. has a twelve month low of $92.56 and a twelve month high of $181.30.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.17. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The company had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the previous year, the firm posted ($0.19) EPS. The business’s revenue was up 25.0% compared to the same quarter last year. Analysts anticipate that DoorDash, Inc. will post 0.26 EPS for the current year.

Wall Street Analyst Weigh In

DASH has been the topic of several recent analyst reports. Susquehanna boosted their target price on shares of DoorDash from $140.00 to $180.00 and gave the company a “positive” rating in a research note on Friday, November 1st. Needham & Company LLC upped their price target on DoorDash from $145.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Piper Sandler increased their price objective on DoorDash from $125.00 to $160.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Wells Fargo & Company lifted their target price on DoorDash from $127.00 to $142.00 and gave the company an “equal weight” rating in a research note on Friday, October 4th. Finally, Raymond James assumed coverage on shares of DoorDash in a research report on Tuesday, September 24th. They issued an “outperform” rating and a $155.00 price target for the company. 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 company has an average rating of “Moderate Buy” and an average price target of $164.03.

Insider Activity at DoorDash

In other news, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the sale, the director now directly owns 18,089 shares in the company, valued at approximately $2,355,187.80. The trade was a 73.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ravi Inukonda sold 7,000 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $127.86, for a total transaction 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 approximately $50,651,994.72. The trade was 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 worth $85,515,902 over the last three months. Company insiders own 7.92% of the company’s stock.

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.