Qsemble Capital Management LP Sells 11,387 Shares of DoorDash, Inc. (NASDAQ:DASH)

Qsemble Capital Management LP reduced its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 45.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,644 shares of the company’s stock after selling 11,387 shares during the quarter. Qsemble Capital Management LP’s holdings in DoorDash were worth $1,947,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DASH. Lazard Asset Management LLC raised its holdings in DoorDash by 18,975.0% during the first quarter. Lazard Asset Management LLC now owns 2,289 shares of the company’s stock worth $314,000 after acquiring an additional 2,277 shares in the last quarter. California State Teachers Retirement System boosted its holdings in shares of DoorDash by 1.6% in the 1st quarter. California State Teachers Retirement System now owns 427,904 shares of the company’s stock valued at $58,931,000 after buying an additional 6,802 shares during the last quarter. Motley Fool Asset Management LLC boosted its holdings in shares of DoorDash by 11.6% in the 1st quarter. Motley Fool Asset Management LLC now owns 11,923 shares of the company’s stock valued at $1,642,000 after buying an additional 1,243 shares during the last quarter. Tidal Investments LLC grew its stake in shares of DoorDash by 658.5% in the first quarter. Tidal Investments LLC now owns 35,045 shares of the company’s stock valued at $4,826,000 after buying an additional 30,425 shares in the last quarter. Finally, Comerica Bank increased its holdings in DoorDash by 8.9% during the first quarter. Comerica Bank now owns 20,159 shares of the company’s stock worth $2,776,000 after buying an additional 1,650 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Keith Yandell sold 7,980 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $169.98, for a total value of $1,356,440.40. Following the completion of the transaction, the insider now owns 124,221 shares of the company’s stock, valued at $21,115,085.58. This represents a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Tony Xu sold 108,332 shares of DoorDash stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $170.25, for a total transaction 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 represents a 98.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 547,753 shares of company stock valued at $84,544,996. 7.92% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have commented on DASH. Wedbush reiterated a “neutral” rating and issued a $115.00 price target on shares of DoorDash in a research note on Friday, August 2nd. 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 research note on Thursday, October 31st. JMP Securities lifted their price target on DoorDash from $160.00 to $190.00 and gave the stock a “market outperform” rating in a report on Thursday, October 31st. BMO Capital Markets upped their price objective on DoorDash from $140.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Finally, Benchmark raised their price objective on DoorDash from $152.00 to $173.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $164.03.

DoorDash Stock Performance

Shares of DASH opened at $179.10 on Tuesday. DoorDash, Inc. has a 52-week low of $92.56 and a 52-week high of $179.13. The firm has a market cap of $74.40 billion, a price-to-earnings ratio of -398.00, a PEG ratio of 13.63 and a beta of 1.67. The business’s fifty day moving average is $154.57 and its 200-day moving average is $129.52.

DoorDash (NASDAQ:DASH) last posted its earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.17. The firm had revenue of $2.71 billion during 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%. The business’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.19) earnings per share. As a group, research analysts forecast that DoorDash, Inc. will post 0.26 EPS for the current fiscal 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.