Plato Investment Management Ltd Reduces Position in DoorDash, Inc. (NASDAQ:DASH)

Plato Investment Management Ltd cut its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 29.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,772 shares of the company’s stock after selling 3,656 shares during the quarter. Plato Investment Management Ltd’s holdings in DoorDash were worth $1,251,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in DASH. Asset Management One Co. Ltd. lifted its holdings in shares of DoorDash by 10.6% in the third quarter. Asset Management One Co. Ltd. now owns 112,181 shares of the company’s stock worth $16,012,000 after buying an additional 10,755 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of 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 shares of DoorDash by 18.6% in the third quarter. Forsta AP Fonden now owns 64,500 shares of the company’s stock worth $9,206,000 after buying an additional 10,100 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new stake in shares of DoorDash in the first quarter worth about $2,969,000. Finally, CWM LLC lifted its holdings 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 buying an additional 5,273 shares in the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at DoorDash

In other news, COO Prabir Adarkar sold 32,124 shares of the business’s stock in a transaction 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 sale, the chief operating officer now owns 963,094 shares in the company, valued at approximately $142,528,281.06. The trade was a 3.23 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Tony Xu sold 54,166 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $140.06, for a total transaction of $7,586,489.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 324,539 shares of company stock valued at $46,439,330. 7.92% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Argus assumed coverage on shares of DoorDash in a report on Tuesday, July 23rd. They issued a “hold” rating on the stock. 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. Bank of America raised their target price on shares of DoorDash from $168.00 to $172.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Loop Capital raised their target price on shares of DoorDash from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Oppenheimer raised their target price on shares of DoorDash from $145.00 to $160.00 and gave the company an “outperform” rating in a research note on Friday, September 27th. Ten analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $164.03.

DoorDash Stock Down 1.1 %

Shares of NASDAQ DASH opened at $173.80 on Friday. The firm’s fifty day moving average is $148.09 and its 200 day moving average is $126.74. The company has a market cap of $72.20 billion, a price-to-earnings ratio of -386.22, a PEG ratio of 14.85 and a beta of 1.67. DoorDash, Inc. has a 52 week low of $92.56 and a 52 week high of $178.16.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.17. The business had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The company’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.19) EPS. Equities research analysts anticipate that DoorDash, Inc. will post 0.24 earnings per share for the current year.

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.