Quantinno Capital Management LP Acquires 30,881 Shares of DoorDash, Inc. $DASH

Quantinno Capital Management LP raised its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 4.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 655,095 shares of the company’s stock after buying an additional 30,881 shares during the quarter. Quantinno Capital Management LP owned about 0.15% of DoorDash worth $98,363,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in DASH. Ampersand Capital Group L.P. raised its holdings in shares of DoorDash by 8.6% in the 1st quarter. Ampersand Capital Group L.P. now owns 138,379 shares of the company’s stock valued at $20,778,000 after acquiring an additional 10,961 shares in the last quarter. Polar Asset Management Partners Inc. purchased a new position in shares of DoorDash during the first quarter worth about $3,018,000. JCP Investment Management LLC purchased a new position in shares of DoorDash during the first quarter worth about $991,000. Ardmore Road Asset Management LP purchased a new position in shares of DoorDash during the first quarter worth about $27,477,000. Finally, Delta Global Management LP bought a new position in shares of DoorDash in the first quarter worth approximately $14,844,000. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

DoorDash Price Performance

Shares of DoorDash stock opened at $184.37 on Tuesday. The firm has a market capitalization of $80.33 billion, a PE ratio of 87.80 and a beta of 1.78. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.27. DoorDash, Inc. has a 12 month low of $143.30 and a 12 month high of $285.50. The business’s 50-day moving average price is $172.65 and its 200-day moving average price is $175.36.

DoorDash (NASDAQ:DASH) last released its earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. The company had revenue of $4.04 billion during 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%.DoorDash’s quarterly revenue was up 33.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS. Sell-side analysts forecast that DoorDash, Inc. will post 2.39 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on DASH shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $265.00 target price on shares of DoorDash in a research note on Thursday, May 7th. KeyCorp cut their price target on shares of DoorDash from $280.00 to $275.00 and set an “overweight” rating for the company in a research note on Tuesday, July 14th. Piper Sandler decreased their price target on shares of DoorDash from $220.00 to $205.00 and set a “neutral” rating on the stock in a report on Thursday, May 7th. Citigroup restated a “market outperform” rating on shares of DoorDash in a research report on Monday, June 22nd. Finally, TD Cowen reaffirmed a “buy” rating on shares of DoorDash in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $252.89.

Insider Activity

In other DoorDash news, Director Stanley Tang sold 23,125 shares of DoorDash stock in a transaction that occurred on Thursday, July 2nd. The shares were sold at an average price of $191.19, for a total transaction of $4,421,268.75. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ravi Inukonda sold 19,095 shares of the business’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $188.04, for a total transaction of $3,590,623.80. Following the completion of the sale, the chief financial officer owned 252,443 shares of the company’s stock, valued at approximately $47,469,381.72. The trade was a 7.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 74,927 shares of company stock valued at $13,241,532. Insiders own 5.83% of the company’s stock.

About DoorDash

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.