DoorDash, Inc. (NASDAQ:DASH) Shares Bought by Acadian Asset Management LLC

Acadian Asset Management LLC lifted its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 36.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 328,203 shares of the company’s stock after buying an additional 88,219 shares during the period. Acadian Asset Management LLC owned approximately 0.08% of DoorDash worth $45,183,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Jupiter Asset Management Ltd. acquired a new position in DoorDash in the first quarter valued at about $2,969,000. Pinkerton Retirement Specialists LLC acquired a new position in shares of DoorDash in the 1st quarter worth approximately $548,000. Orion Portfolio Solutions LLC boosted its position in shares of DoorDash by 37.3% during the 1st quarter. Orion Portfolio Solutions LLC now owns 6,490 shares of the company’s stock worth $894,000 after purchasing an additional 1,762 shares during the period. Picton Mahoney Asset Management boosted its position in shares of DoorDash by 7.6% during the 1st quarter. Picton Mahoney Asset Management now owns 110,508 shares of the company’s stock worth $15,219,000 after purchasing an additional 7,771 shares during the period. Finally, SageView Advisory Group LLC raised its position in DoorDash by 34.0% in the first quarter. SageView Advisory Group LLC now owns 3,430 shares of the company’s stock valued at $472,000 after purchasing an additional 871 shares during the period. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Analyst Ratings Changes

DASH has been the subject of several research analyst reports. Truist Financial lowered their price target on DoorDash from $155.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Benchmark dropped their target price on DoorDash from $165.00 to $150.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Wedbush reissued a “neutral” rating and set a $115.00 price target on shares of DoorDash in a research report on Thursday, May 2nd. JMP Securities restated a “market outperform” rating and issued a $140.00 price objective on shares of DoorDash in a report on Thursday. Finally, Oppenheimer increased their target price on shares of DoorDash from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday, April 29th. Nine equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $134.60.

DoorDash Stock Performance

Shares of DASH stock traded down $0.46 during mid-day trading on Monday, hitting $105.64. 1,708,819 shares of the stock were exchanged, compared to its average volume of 3,938,746. The stock’s fifty day simple moving average is $110.86 and its two-hundred day simple moving average is $118.09. DoorDash, Inc. has a 12-month low of $69.90 and a 12-month high of $143.34. The stock has a market capitalization of $43.20 billion, a price-to-earnings ratio of -98.24, a P/E/G ratio of 30.98 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, May 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. DoorDash had a negative return on equity of 6.28% and a negative net margin of 4.61%. The firm had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.45 billion. During the same quarter last year, the business posted ($0.41) EPS. The firm’s quarterly revenue was up 23.5% compared to the same quarter last year. On average, research analysts expect that DoorDash, Inc. will post 0.09 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Tony Xu sold 54,166 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $104.96, for a total transaction of $5,685,263.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $105.57, for a total transaction of $5,278,500.00. Following the completion of the sale, the director now owns 19,982 shares in the company, valued at $2,109,499.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Tony Xu sold 54,166 shares of DoorDash stock in a transaction on Monday, July 15th. The shares were sold at an average price of $104.96, for a total transaction of $5,685,263.36. The disclosure for this sale can be found here. Insiders have sold 459,016 shares of company stock valued at $50,495,566 in the last ninety days. 7.92% of the stock is currently owned by company insiders.

About DoorDash

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.