Worldquant Millennium Advisors LLC Has $45.54 Million Holdings in DoorDash, Inc. (NASDAQ:DASH)

Worldquant Millennium Advisors LLC boosted its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 1,358.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 319,062 shares of the company’s stock after purchasing an additional 297,179 shares during the period. Worldquant Millennium Advisors LLC owned about 0.08% of DoorDash worth $45,540,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Cetera Advisors LLC raised its position in DoorDash by 40.8% in the 1st quarter. Cetera Advisors LLC now owns 3,100 shares of the company’s stock valued at $427,000 after buying an additional 898 shares during the last quarter. CWM LLC raised its holdings in shares of DoorDash by 17.6% in the second quarter. CWM LLC now owns 5,432 shares of the company’s stock valued at $591,000 after purchasing an additional 811 shares during the last quarter. Wolff Wiese Magana LLC bought a new stake in shares of DoorDash in the second quarter worth $96,000. Gateway Investment Advisers LLC acquired a new position in DoorDash during the second quarter worth $1,580,000. Finally, Sequoia Financial Advisors LLC boosted its holdings in DoorDash by 11.5% during the second quarter. Sequoia Financial Advisors LLC now owns 2,922 shares of the company’s stock worth $318,000 after purchasing an additional 302 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Stock Down 0.6 %

Shares of DoorDash stock opened at $175.89 on Friday. DoorDash, Inc. has a 12-month low of $93.33 and a 12-month high of $181.30. The company has a market capitalization of $73.06 billion, a price-to-earnings ratio of -390.87, a PEG ratio of 13.54 and a beta of 1.70. The firm’s 50-day moving average price is $160.19 and its two-hundred day moving average price is $132.46.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings results 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 business had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same quarter last year, the business posted ($0.19) EPS. The firm’s revenue for the quarter was up 25.0% on a year-over-year basis. On average, sell-side analysts expect that DoorDash, Inc. will post 0.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on DASH. Benchmark boosted their price target on shares of DoorDash from $152.00 to $173.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Evercore ISI upped their target price on DoorDash from $155.00 to $200.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. BTIG Research upgraded DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 price target for the company in a research note on Thursday, September 19th. Piper Sandler upped 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. Finally, Needham & Company LLC raised their target price on shares of DoorDash from $145.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Ten analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $166.06.

Insider Buying and Selling

In other DoorDash news, Director Stanley Tang sold 1,855 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $169.98, for a total value of $315,312.90. Following the sale, the director now owns 35,413 shares in the company, valued at $6,019,501.74. This trade represents a 4.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Keith Yandell sold 5,509 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $176.24, for a total transaction of $970,906.16. Following the transaction, the insider now owns 118,712 shares of the company’s stock, valued at $20,921,802.88. This trade represents a 4.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 838,722 shares of company stock worth $136,732,309 in the last ninety days. 7.92% of the stock is owned by insiders.

DoorDash Company 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.