Smith Group Asset Management LLC Acquires Shares of 2,190 DoorDash, Inc. (NASDAQ:DASH)

Smith Group Asset Management LLC bought a new position in DoorDash, Inc. (NASDAQ:DASH) during the third quarter, Holdings Channel.com reports. The firm bought 2,190 shares of the company’s stock, valued at approximately $313,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DASH. Marshall Wace LLP grew its position in DoorDash by 930.5% during the second quarter. Marshall Wace LLP now owns 675,988 shares of the company’s stock valued at $73,534,000 after buying an additional 610,388 shares during the period. Jupiter Asset Management Ltd. bought a new stake in DoorDash in the first quarter worth about $2,969,000. Forsta AP Fonden boosted its stake in DoorDash by 18.6% in the third quarter. Forsta AP Fonden now owns 64,500 shares of the company’s stock valued at $9,206,000 after acquiring an additional 10,100 shares during the last quarter. CWM LLC grew its position in shares of DoorDash by 97.1% during the 3rd quarter. CWM LLC now owns 10,705 shares of the company’s stock valued at $1,528,000 after acquiring an additional 5,273 shares during the period. Finally, Paragon Capital Management Inc. purchased a new stake in shares of DoorDash during the 2nd quarter worth approximately $1,309,000. Hedge funds and other institutional investors own 90.64% of the company’s stock.

DoorDash Stock Performance

NASDAQ DASH opened at $155.20 on Wednesday. The company has a market capitalization of $63.46 billion, a P/E ratio of -143.70, a P/E/G ratio of 425.82 and a beta of 1.70. DoorDash, Inc. has a 52-week low of $71.38 and a 52-week high of $155.93. The company has a fifty day moving average of $138.79 and a 200-day moving average of $123.61.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.29). The firm had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.54 billion. DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. DoorDash’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.44) earnings per share. As a group, analysts forecast that DoorDash, Inc. will post 0.01 EPS for the current fiscal year.

Insider Buying and Selling

In other DoorDash news, COO Prabir Adarkar sold 32,124 shares of DoorDash stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $147.99, for a total transaction of $4,754,030.76. Following the transaction, the chief operating officer now directly owns 963,094 shares of the company’s stock, valued at approximately $142,528,281.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, COO Prabir Adarkar sold 32,124 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $147.99, for a total transaction of $4,754,030.76. Following the transaction, the chief operating officer now directly owns 963,094 shares of the company’s stock, valued at approximately $142,528,281.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction, the director now owns 65,186 shares in the company, valued at approximately $7,822,320. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 383,710 shares of company stock worth $53,725,640 in the last quarter. 7.92% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on DASH. DA Davidson increased their price objective on DoorDash from $110.00 to $119.00 and gave the company a “neutral” rating in a report on Monday, August 5th. BMO Capital Markets increased their price target on DoorDash from $127.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Argus assumed coverage on DoorDash in a report on Tuesday, July 23rd. They issued a “hold” rating for the company. Wedbush reaffirmed a “neutral” rating and set a $115.00 price objective on shares of DoorDash in a report on Friday, August 2nd. Finally, Mizuho lifted their target price on shares of DoorDash from $162.00 to $173.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Ten investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $151.00.

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.