Quest Partners LLC Raises Stake in DoorDash, Inc. (NASDAQ:DASH)

Quest Partners LLC raised its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 1,456.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,338 shares of the company’s stock after acquiring an additional 4,995 shares during the period. Quest Partners LLC’s holdings in DoorDash were worth $762,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Asset Management One Co. Ltd. raised its position in DoorDash by 10.6% in the 3rd quarter. Asset Management One Co. Ltd. now owns 112,181 shares of the company’s stock worth $16,012,000 after purchasing an additional 10,755 shares during the period. Marshall Wace LLP grew its stake in shares of DoorDash by 930.5% during the second quarter. Marshall Wace LLP now owns 675,988 shares of the company’s stock valued at $73,534,000 after buying an additional 610,388 shares during the last quarter. Forsta AP Fonden increased its holdings in shares of DoorDash by 18.6% in the third quarter. Forsta AP Fonden now owns 64,500 shares of the company’s stock worth $9,206,000 after buying an additional 10,100 shares during the period. Baillie Gifford & Co. lifted its stake in shares of DoorDash by 13.2% in the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock valued at $2,018,584,000 after acquiring an additional 1,645,186 shares during the last quarter. Finally, CWM LLC boosted its holdings in DoorDash by 97.1% during the 3rd quarter. CWM LLC now owns 10,705 shares of the company’s stock valued at $1,528,000 after acquiring an additional 5,273 shares during the period. 90.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at DoorDash

In related news, CEO Tony Xu sold 108,332 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $170.25, for a total value of $18,443,523.00. Following the sale, the chief executive officer now owns 1,500 shares in the company, valued at approximately $255,375. This trade represents a 98.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Ravi Inukonda sold 7,000 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $127.86, for a total transaction of $895,020.00. Following the sale, the chief financial officer now owns 396,152 shares of the company’s stock, valued at approximately $50,651,994.72. This represents a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 482,871 shares of company stock valued at $73,516,353 over the last ninety days. Insiders own 7.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Needham & Company LLC boosted their price objective on DoorDash from $145.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Raymond James began coverage on shares of DoorDash in a report on Tuesday, September 24th. They set an “outperform” rating and a $155.00 price target for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price target on shares of DoorDash in a report on Monday, October 7th. Wells Fargo & Company upped their price objective on shares of DoorDash from $127.00 to $142.00 and gave the company an “equal weight” rating in a research note on Friday, October 4th. Finally, Mizuho raised their target price on DoorDash from $162.00 to $173.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Ten investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $164.03.

DoorDash Stock Performance

Shares of NASDAQ DASH opened at $173.65 on Friday. The firm’s 50 day moving average price is $152.69 and its 200-day moving average price is $128.46. DoorDash, Inc. has a 52-week low of $92.56 and a 52-week high of $178.16. The company has a market cap of $72.13 billion, a PE ratio of -385.88, a P/E/G ratio of 14.82 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.17. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The business had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same period in the prior year, the firm posted ($0.19) EPS. The firm’s quarterly revenue was up 25.0% on a year-over-year basis. On average, analysts forecast that DoorDash, Inc. will post 0.24 earnings per share for the current fiscal year.

DoorDash 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.