Renaissance Technologies LLC Acquires 103,520 Shares of DoorDash, Inc. $DASH

Renaissance Technologies LLC boosted its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 7.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,426,355 shares of the company’s stock after purchasing an additional 103,520 shares during the period. Renaissance Technologies LLC’s holdings in DoorDash were worth $214,167,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of DoorDash in the 4th quarter valued at approximately $1,093,650,000. Wellington Management Group LLP raised its holdings in shares of DoorDash by 593.1% in the 4th quarter. Wellington Management Group LLP now owns 5,481,693 shares of the company’s stock worth $1,241,494,000 after buying an additional 4,690,744 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of DoorDash by 32.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,958,114 shares of the company’s stock worth $3,161,234,000 after buying an additional 3,447,754 shares during the period. Coatue Management LLC boosted its stake in DoorDash by 77.8% in the 4th quarter. Coatue Management LLC now owns 4,365,365 shares of the company’s stock valued at $988,668,000 after buying an additional 1,910,488 shares in the last quarter. Finally, Alyeska Investment Group L.P. bought a new stake in DoorDash in the fourth quarter valued at $372,128,000. 90.64% of the stock is owned by institutional investors and hedge funds.

DoorDash Trading Up 1.8%

Shares of NASDAQ DASH opened at $172.91 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.27. The company has a market cap of $75.34 billion, a PE ratio of 82.34 and a beta of 1.78. The company has a 50-day moving average of $172.22 and a two-hundred day moving average of $176.04. DoorDash, Inc. has a 1-year low of $143.30 and a 1-year high of $285.50.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.06. The firm had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $4.15 billion. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The business’s revenue for the quarter was up 33.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.44 EPS. As a group, equities analysts expect that DoorDash, Inc. will post 2.39 earnings per share for the current fiscal year.

Insider Buying and Selling at DoorDash

In related news, COO Prabir Adarkar sold 21,739 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $155.25, for a total value of $3,374,979.75. Following the transaction, the chief operating officer owned 959,076 shares in the company, valued at $148,896,549. This trade represents a 2.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stanley Tang sold 23,125 shares of the firm’s stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $191.19, for a total value of $4,421,268.75. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 74,927 shares of company stock valued at $13,241,532 over the last ninety days. Company insiders own 5.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on DASH. Guggenheim reissued a “buy” rating and set a $255.00 price objective on shares of DoorDash in a report on Tuesday, June 23rd. Piper Sandler reduced their price target on shares of DoorDash from $220.00 to $205.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. Wells Fargo & Company dropped their price objective on shares of DoorDash from $200.00 to $199.00 and set an “equal weight” rating for the company in a report on Monday, July 6th. Argus set a $190.00 target price on DoorDash in a report on Thursday, June 11th. Finally, Wedbush began coverage on DoorDash in a research report on Thursday, July 16th. They set a “neutral” rating and a $205.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, DoorDash presently has an average rating of “Moderate Buy” and an average target price of $252.89.

DoorDash Profile

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.