DoorDash, Inc. (NASDAQ:DASH) Stock Position Raised by Metis Global Partners LLC

Metis Global Partners LLC lifted its position in DoorDash, Inc. (NASDAQ:DASH) by 14.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,895 shares of the company’s stock after buying an additional 485 shares during the quarter. Metis Global Partners LLC’s holdings in DoorDash were worth $556,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in DASH. KBC Group NV grew its position in DoorDash by 21.0% in the third quarter. KBC Group NV now owns 41,038 shares of the company’s stock worth $5,858,000 after acquiring an additional 7,133 shares in the last quarter. Mizuho Securities Co. Ltd. boosted its holdings in DoorDash by 159.4% in the third quarter. Mizuho Securities Co. Ltd. now owns 4,020 shares of the company’s stock worth $574,000 after purchasing an additional 2,470 shares in the last quarter. ICICI Prudential Asset Management Co Ltd increased its position in DoorDash by 19.8% during the third quarter. ICICI Prudential Asset Management Co Ltd now owns 5,021 shares of the company’s stock worth $717,000 after buying an additional 829 shares during the last quarter. Empower Advisory Group LLC increased its position in DoorDash by 25.3% during the third quarter. Empower Advisory Group LLC now owns 57,486 shares of the company’s stock worth $8,205,000 after buying an additional 11,616 shares during the last quarter. Finally, Rakuten Securities Inc. raised its holdings in DoorDash by 302.3% during the third quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock valued at $25,000 after buying an additional 130 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

Insider Buying and Selling at DoorDash

In other news, CEO Tony Xu sold 81,249 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $147.87, for a total transaction of $12,014,289.63. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction dated 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 completion of the transaction, the director now directly owns 18,089 shares of the company’s stock, valued at $2,710,274.87. This represents a 73.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 324,539 shares of company stock worth $46,439,330 over the last ninety days. Corporate insiders own 7.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on DASH. Argus initiated coverage on DoorDash in a report on Tuesday, July 23rd. They set a “hold” rating on the stock. Benchmark increased their price target on DoorDash from $152.00 to $173.00 and gave the company a “buy” rating in a report on Thursday, October 17th. UBS Group boosted their price objective on shares of DoorDash from $143.00 to $160.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Jefferies Financial Group raised their target price on shares of DoorDash from $155.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, KeyCorp lifted their target price on shares of DoorDash from $177.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Ten analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $164.03.

DoorDash Price Performance

Shares of DASH stock opened at $172.73 on Tuesday. The stock’s fifty day simple moving average is $149.97 and its 200 day simple moving average is $127.39. DoorDash, Inc. has a one year low of $92.56 and a one year high of $178.16. The firm has a market cap of $71.75 billion, a price-to-earnings ratio of -383.84, a P/E/G ratio of 14.26 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last issued its earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.21 by $0.17. The company 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 firm’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.19) EPS. On average, research analysts anticipate that DoorDash, Inc. will post 0.24 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.