Tidal Investments LLC Increases Position in DoorDash, Inc. (NASDAQ:DASH)

Tidal Investments LLC increased its stake in DoorDash, Inc. (NASDAQ:DASH) by 19.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,321 shares of the company’s stock after purchasing an additional 2,049 shares during the quarter. Tidal Investments LLC’s holdings in DoorDash were worth $1,759,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Rakuten Securities Inc. increased its holdings in shares of DoorDash by 302.3% in the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock valued at $25,000 after purchasing an additional 130 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of DoorDash in the 2nd quarter valued at about $32,000. Meeder Asset Management Inc. increased its holdings in shares of DoorDash by 82.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock valued at $32,000 after purchasing an additional 132 shares in the last quarter. Quest Partners LLC increased its holdings in DoorDash by 146.8% during the 2nd quarter. Quest Partners LLC now owns 343 shares of the company’s stock valued at $37,000 after acquiring an additional 204 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its holdings in DoorDash by 141.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 352 shares of the company’s stock valued at $38,000 after acquiring an additional 206 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

DoorDash Stock Down 1.4 %

Shares of DASH stock opened at $177.00 on Wednesday. The stock has a market cap of $73.53 billion, a price-to-earnings ratio of -393.33, a price-to-earnings-growth ratio of 13.56 and a beta of 1.70. DoorDash, Inc. has a fifty-two week low of $93.33 and a fifty-two week high of $181.78. The firm’s 50 day moving average price is $166.24 and its two-hundred day moving average price is $136.69.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.17. The firm had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. DoorDash’s revenue was up 25.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.19) earnings per share. On average, equities analysts forecast that DoorDash, Inc. will post 0.26 EPS for the current fiscal year.

Analyst Ratings Changes

DASH has been the subject of several recent research reports. Royal Bank of Canada raised their target price on shares of DoorDash from $175.00 to $215.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 target price on shares of DoorDash in a report on Monday, October 7th. Needham & Company LLC raised their target price on shares of DoorDash from $145.00 to $180.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Bank of America raised their target price on shares of DoorDash from $168.00 to $172.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Susquehanna raised their target price on shares of DoorDash from $140.00 to $180.00 and gave the company a “positive” rating in a report on Friday, November 1st. Ten research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $168.39.

Insider Activity

In other news, CEO Tony Xu sold 115,432 shares of DoorDash stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $177.01, for a total transaction of $20,432,618.32. Following the sale, the chief executive officer now owns 1,500 shares in the company, valued at $265,515. This trade represents a 98.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Tia Sherringham sold 12,950 shares of DoorDash stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $169.98, for a total transaction of $2,201,241.00. Following the sale, the general counsel now owns 145,917 shares in the company, valued at $24,802,971.66. This represents a 8.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 843,196 shares of company stock worth $139,848,818 over the last 90 days. Company insiders own 7.92% of the company’s stock.

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.