DoorDash, Inc. (NASDAQ:DASH) Shares Sold by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd reduced its position in DoorDash, Inc. (NASDAQ:DASH) by 56.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,600 shares of the company’s stock after selling 13,484 shares during the period. Point72 Hong Kong Ltd’s holdings in DoorDash were worth $1,513,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DASH. Rakuten Securities Inc. increased its position in shares of DoorDash by 302.3% in 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. Meeder Asset Management Inc. increased its holdings in DoorDash by 82.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock valued at $32,000 after acquiring an additional 132 shares in the last quarter. Headlands Technologies LLC acquired a new position in DoorDash during the second quarter worth about $32,000. Versant Capital Management Inc lifted its holdings in shares of DoorDash by 340.8% in the second quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock valued at $36,000 after purchasing an additional 259 shares in the last quarter. Finally, Quest Partners LLC lifted its holdings in shares of DoorDash by 146.8% in the second quarter. Quest Partners LLC now owns 343 shares of the company’s stock valued at $37,000 after purchasing an additional 204 shares in the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DASH has been the subject of several research reports. Evercore ISI lifted their price objective on DoorDash from $155.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. BMO Capital Markets boosted their price target on DoorDash from $140.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. JMP Securities increased their price objective on DoorDash from $160.00 to $190.00 and gave the company a “market outperform” rating in a research note on Thursday, October 31st. UBS Group lifted their price objective on DoorDash from $143.00 to $160.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, DA Davidson upped their target price on shares of DoorDash from $119.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Ten equities research 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, DoorDash has a consensus rating of “Moderate Buy” and an average target price of $166.06.

Insider Buying and Selling

In other DoorDash news, CEO Tony Xu sold 54,166 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $140.06, for a total transaction of $7,586,489.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andy Fang sold 50,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $130.20, for a total value of $6,510,000.00. Following the transaction, the director now owns 18,089 shares of the company’s stock, valued at approximately $2,355,187.80. This trade represents a 73.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 654,596 shares of company stock valued at $104,128,585 in the last quarter. Company insiders own 7.92% of the company’s stock.

DoorDash Stock Performance

DASH stock opened at $180.48 on Monday. The stock has a 50-day simple moving average of $158.11 and a 200-day simple moving average of $131.20. The firm has a market cap of $74.97 billion, a P/E ratio of -401.07, a price-to-earnings-growth ratio of 13.88 and a beta of 1.67. DoorDash, Inc. has a 1 year low of $92.58 and a 1 year high of $181.30.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.17. The company had revenue of $2.71 billion for 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%. The business’s quarterly revenue was up 25.0% on a year-over-year basis. During the same quarter last year, the firm posted ($0.19) earnings per share. On average, equities research analysts predict that DoorDash, Inc. will post 0.26 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.