Assetmark Inc. Raises Position in DoorDash, Inc. (NASDAQ:DASH)

Assetmark Inc. raised its position in DoorDash, Inc. (NASDAQ:DASH) by 17.4% during the third quarter, Holdings Channel.com reports. The fund owned 3,519 shares of the company’s stock after purchasing an additional 522 shares during the quarter. Assetmark Inc.’s holdings in DoorDash were worth $502,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC boosted its stake in shares of DoorDash by 0.8% during the 2nd quarter. Brighton Jones LLC now owns 10,317 shares of the company’s stock valued at $1,122,000 after purchasing an additional 82 shares in the last quarter. Everhart Financial Group Inc. raised its holdings in DoorDash by 3.1% in the second quarter. Everhart Financial Group Inc. now owns 3,267 shares of the company’s stock worth $355,000 after buying an additional 99 shares during the last quarter. E Fund Management Co. Ltd. raised its holdings in shares of DoorDash by 3.5% during the second quarter. E Fund Management Co. Ltd. now owns 3,263 shares of the company’s stock valued at $355,000 after purchasing an additional 111 shares during the last quarter. SJS Investment Consulting Inc. raised its holdings in shares of DoorDash by 21.0% during the second quarter. SJS Investment Consulting Inc. now owns 673 shares of the company’s stock valued at $73,000 after purchasing an additional 117 shares during the last quarter. Finally, Meeder Asset Management Inc. raised its holdings in shares of DoorDash by 82.0% during the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock valued at $32,000 after purchasing an additional 132 shares during the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Insider Activity

In related news, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction on Monday, October 14th. The shares were sold at an average price of $149.83, for a total value of $7,491,500.00. Following the sale, the director now owns 18,089 shares of the company’s stock, valued at approximately $2,710,274.87. This trade represents a 73.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Ravi Inukonda sold 7,000 shares of DoorDash stock in a transaction on 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 $50,651,994.72. This represents a 1.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 324,539 shares of company stock valued at $46,439,330 in the last three months. 7.92% of the stock is currently owned by corporate insiders.

DoorDash Stock Down 2.5 %

DASH stock opened at $169.43 on Friday. The firm has a 50 day moving average of $149.01 and a 200 day moving average of $127.00. The stock has a market capitalization of $70.38 billion, a PE ratio of -376.51, a price-to-earnings-growth ratio of 14.79 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 posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.17. The company had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. DoorDash’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.19) EPS. On average, equities research analysts expect that DoorDash, Inc. will post 0.24 earnings per share for the current year.

Analysts Set New Price Targets

DASH has been the subject of a number of research reports. Mizuho upped their target price on shares of DoorDash from $162.00 to $173.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Evercore ISI upped their target price on shares of DoorDash from $155.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Roth Mkm upped their price target on shares of DoorDash from $118.00 to $124.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. Morgan Stanley upped their price target on shares of DoorDash from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Bank of America increased 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. Ten research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat.com, DoorDash currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.03.

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.