DoorDash, Inc. (NASDAQ:DASH) Shares Purchased by Cerity Partners LLC

Cerity Partners LLC raised its stake in DoorDash, Inc. (NASDAQ:DASH) by 13.7% in the third quarter, HoldingsChannel reports. The fund owned 87,944 shares of the company’s stock after purchasing an additional 10,630 shares during the period. Cerity Partners LLC’s holdings in DoorDash were worth $12,552,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of DASH. Asset Management One Co. Ltd. boosted its holdings in DoorDash by 10.6% during 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 increased its stake in shares of DoorDash by 930.5% in the 2nd quarter. Marshall Wace LLP now owns 675,988 shares of the company’s stock valued at $73,534,000 after purchasing an additional 610,388 shares in the last quarter. Forsta AP Fonden raised its holdings in DoorDash by 18.6% in the 3rd quarter. Forsta AP Fonden now owns 64,500 shares of the company’s stock worth $9,206,000 after purchasing an additional 10,100 shares during the period. Baillie Gifford & Co. grew its holdings in DoorDash by 13.2% in the third quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock valued at $2,018,584,000 after purchasing an additional 1,645,186 shares during the period. Finally, CWM LLC lifted 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 buying an additional 5,273 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on DASH. JMP Securities upped their price objective on shares of DoorDash from $160.00 to $190.00 and gave the stock a “market outperform” rating in a research report on Thursday, October 31st. Wedbush reiterated a “neutral” rating and issued a $115.00 price objective on shares of DoorDash in a report on Friday, August 2nd. Susquehanna increased their target price on DoorDash from $140.00 to $180.00 and gave the company a “positive” rating in a report on Friday, November 1st. Roth Mkm boosted their price target on DoorDash from $118.00 to $124.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Finally, Truist Financial raised their price objective on DoorDash from $170.00 to $180.00 and gave the company a “buy” rating in a report 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. According to MarketBeat, DoorDash presently has an average rating of “Moderate Buy” and an average price target of $164.03.

Insider Activity

In other news, CEO Tony Xu sold 54,166 shares of DoorDash 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andy Fang sold 50,000 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $130.20, for a total value of $6,510,000.00. Following the completion of the transaction, the director now directly owns 18,089 shares in the company, valued at $2,355,187.80. This trade represents a 73.43 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 547,753 shares of company stock worth $84,544,996. 7.92% of the stock is currently owned by company insiders.

DoorDash Stock Up 1.0 %

Shares of DASH opened at $179.10 on Tuesday. The company has a market cap of $74.40 billion, a P/E ratio of -398.00, a PEG ratio of 13.63 and a beta of 1.67. DoorDash, Inc. has a fifty-two week low of $92.56 and a fifty-two week high of $179.13. The firm’s 50 day moving average price is $154.57 and its 200 day moving average price is $129.52.

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

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.