West Tower Group LLC Acquires New Shares in DoorDash, Inc. (NASDAQ:DASH)

West Tower Group LLC acquired a new stake in DoorDash, Inc. (NASDAQ:DASH) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,000 shares of the company’s stock, valued at approximately $143,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in DASH. Baillie Gifford & Co. increased its holdings in shares of DoorDash by 13.2% in the third quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock worth $2,018,584,000 after acquiring an additional 1,645,186 shares in the last quarter. Dragoneer Investment Group LLC increased its holdings in shares of DoorDash by 77.9% in the second quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company’s stock worth $309,755,000 after acquiring an additional 1,246,567 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of DoorDash by 16.4% in the second quarter. Renaissance Technologies LLC now owns 2,787,843 shares of the company’s stock worth $303,262,000 after acquiring an additional 392,300 shares in 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 worth $150,890,000 after acquiring an additional 188,612 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of DoorDash by 7.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,341,660 shares of the company’s stock worth $191,495,000 after acquiring an additional 88,025 shares in the last quarter. Institutional investors own 90.64% of the company’s stock.

DoorDash Stock Up 1.0 %

DASH opened at $179.10 on Tuesday. The stock 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. DoorDash, Inc. has a 12-month low of $92.56 and a 12-month high of $179.13. The business has a 50 day moving average of $154.57 and a 200-day moving average of $129.52.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same quarter last year, the company earned ($0.19) earnings per share. The firm’s quarterly revenue was up 25.0% compared to the same quarter last year. As a group, analysts expect that DoorDash, Inc. will post 0.26 earnings per share for the current year.

Insiders Place Their Bets

In other DoorDash news, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $172.67, for a total value of $8,633,500.00. Following the sale, the director now owns 18,089 shares of the company’s stock, valued at approximately $3,123,427.63. This trade represents a 73.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Keith Yandell sold 7,980 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $169.98, for a total value of $1,356,440.40. Following the completion of the sale, the insider now directly owns 124,221 shares in the company, valued at approximately $21,115,085.58. This represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 547,753 shares of company stock worth $84,544,996 in the last 90 days. Company insiders own 7.92% of the company’s stock.

Analysts Set New Price Targets

DASH has been the subject of several recent analyst reports. Roth Mkm increased their price target on DoorDash from $118.00 to $124.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Wedbush reaffirmed a “neutral” rating and set a $115.00 price objective on shares of DoorDash in a research report on Friday, August 2nd. DA Davidson upped their price objective on DoorDash from $119.00 to $150.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Morgan Stanley upped their price objective on DoorDash from $145.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. upped their price objective on DoorDash from $137.00 to $155.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Ten equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat, DoorDash presently has an average rating of “Moderate Buy” and a consensus price target of $164.03.

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.