Moore Capital Management LP Acquires 106,409 Shares of DoorDash, Inc. (NASDAQ:DASH)

Moore Capital Management LP increased its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 501.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 127,627 shares of the company’s stock after acquiring an additional 106,409 shares during the period. Moore Capital Management LP’s holdings in DoorDash were worth $21,409,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Swedbank AB raised its stake in DoorDash by 3.3% during the fourth quarter. Swedbank AB now owns 171,055 shares of the company’s stock worth $28,694,000 after buying an additional 5,539 shares during the last quarter. LVW Advisors LLC bought a new position in DoorDash in the 4th quarter valued at about $236,000. Retireful LLC boosted its position in shares of DoorDash by 121.4% during the fourth quarter. Retireful LLC now owns 9,621 shares of the company’s stock valued at $1,614,000 after buying an additional 5,275 shares during the last quarter. Flagship Harbor Advisors LLC bought a new stake in DoorDash in the 4th quarter worth about $240,000. Finally, Merit Financial Group LLC purchased a new stake in shares of DoorDash during the fourth quarter valued at approximately $503,000. Institutional investors and hedge funds own 90.64% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Truist Financial lifted their price objective on shares of DoorDash from $217.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Piper Sandler reaffirmed a “neutral” rating and set a $210.00 price objective (up from $160.00) on shares of DoorDash in a report on Wednesday, February 12th. DA Davidson raised their price objective on shares of DoorDash from $150.00 to $190.00 and gave the company a “neutral” rating in a research report on Tuesday, May 6th. Mizuho increased their price target on shares of DoorDash from $200.00 to $222.00 and gave the stock an “outperform” rating in a report on Wednesday, February 12th. Finally, Loop Capital increased their price target on shares of DoorDash from $200.00 to $235.00 and gave the company a “buy” rating in a research report on Monday, February 24th. Ten analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $209.97.

Insider Activity

In related news, Director Andy Fang sold 1,398 shares of DoorDash stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $203.45, for a total transaction of $284,423.10. Following the completion of the transaction, the director now directly owns 14,778 shares of the company’s stock, valued at approximately $3,006,584.10. The trade was a 8.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ravi Inukonda sold 15,198 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $204.11, for a total transaction of $3,102,063.78. Following the completion of the sale, the chief financial officer now directly owns 351,970 shares in the company, valued at $71,840,596.70. This trade represents a 4.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 158,573 shares of company stock valued at $30,407,073. 7.92% of the stock is currently owned by insiders.

DoorDash Price Performance

Shares of NASDAQ DASH opened at $183.56 on Monday. The stock has a market cap of $77.11 billion, a PE ratio of 679.85 and a beta of 1.68. DoorDash, Inc. has a 1 year low of $99.32 and a 1 year high of $215.25. The firm has a fifty day moving average price of $184.61 and a 200-day moving average price of $181.03.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.05. The business had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $3.10 billion. DoorDash had a return on equity of 1.67% and a net margin of 1.15%. The business’s quarterly revenue was up 20.7% on a year-over-year basis. During the same period last year, the firm earned ($0.06) earnings per share. On average, research analysts expect that DoorDash, Inc. will post 2.22 EPS 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.