Quantbot Technologies LP Buys 16,436 Shares of DoorDash, Inc. (NASDAQ:DASH)

Quantbot Technologies LP raised its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 23.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 86,626 shares of the company’s stock after acquiring an additional 16,436 shares during the quarter. DoorDash makes up 0.5% of Quantbot Technologies LP’s portfolio, making the stock its 16th largest holding. Quantbot Technologies LP’s holdings in DoorDash were worth $12,364,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Baillie Gifford & Co. lifted its position in DoorDash by 13.2% during the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock worth $2,018,584,000 after buying an additional 1,645,186 shares in the last quarter. Dragoneer Investment Group LLC lifted its position in shares of DoorDash by 77.9% during the second quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company’s stock worth $309,755,000 after purchasing an additional 1,246,567 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of DoorDash by 16.4% during the second quarter. Renaissance Technologies LLC now owns 2,787,843 shares of the company’s stock valued at $303,262,000 after purchasing an additional 392,300 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of DoorDash by 15.7% in the second quarter. Bank of New York Mellon Corp now owns 1,387,113 shares of the company’s stock valued at $150,890,000 after purchasing an additional 188,612 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in DoorDash by 7.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,341,660 shares of the company’s stock worth $191,495,000 after purchasing an additional 88,025 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Price Performance

Shares of NASDAQ:DASH opened at $179.10 on Tuesday. The company’s 50-day moving average price is $154.57 and its two-hundred day moving average price is $129.52. DoorDash, Inc. has a one year low of $92.56 and a one year high of $179.13. The stock has a market capitalization of $74.40 billion, a PE ratio of -398.00, a price-to-earnings-growth ratio of 13.63 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, beating the consensus estimate 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 return on equity of 2.41% and a negative net margin of 1.69%. The business’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.19) earnings per share. On average, analysts anticipate that DoorDash, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Ravi Inukonda sold 7,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $127.86, for a total value of $895,020.00. Following the sale, the chief financial officer now owns 396,152 shares in the company, valued at approximately $50,651,994.72. This represents a 1.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Keith Yandell sold 7,980 shares of DoorDash stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $169.98, for a total transaction of $1,356,440.40. Following the transaction, the insider now directly owns 124,221 shares of the company’s stock, valued at approximately $21,115,085.58. This trade represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 547,753 shares of company stock worth $84,544,996. Insiders own 7.92% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on DASH shares. Needham & Company LLC boosted their target price on DoorDash from $145.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Truist Financial upped their target price on shares of DoorDash from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. BTIG Research raised shares of DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 price target for the company in a research note on Thursday, September 19th. Benchmark increased their price objective on shares of DoorDash from $152.00 to $173.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Finally, Raymond James assumed coverage on shares of DoorDash in a report on Tuesday, September 24th. They set an “outperform” rating and a $155.00 target price for the company. Ten research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $164.03.

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.