EdgeRock Capital LLC Takes $57,000 Position in DoorDash, Inc. (NASDAQ:DASH)

EdgeRock Capital LLC purchased a new stake in DoorDash, Inc. (NASDAQ:DASH) in the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 520 shares of the company’s stock, valued at approximately $57,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Versor Investments LP acquired a new position in DoorDash during the 3rd quarter valued at about $556,000. Assenagon Asset Management S.A. lifted its stake in shares of DoorDash by 1,725.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,113,175 shares of the company’s stock worth $110,082,000 after acquiring an additional 1,052,198 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in shares of DoorDash in the 4th quarter worth approximately $769,000. Angeles Investment Advisors LLC acquired a new stake in shares of DoorDash in the 3rd quarter worth approximately $336,000. Finally, Bank of Nova Scotia lifted its stake in shares of DoorDash by 685.9% in the 3rd quarter. Bank of Nova Scotia now owns 46,751 shares of the company’s stock worth $3,715,000 after acquiring an additional 40,802 shares during the period. 90.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, General Counsel Tia Sherringham sold 1,880 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $120.15, for a total transaction of $225,882.00. Following the completion of the sale, the general counsel now owns 217,260 shares in the company, valued at approximately $26,103,789. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other DoorDash news, CEO Tony Xu sold 132,300 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $131.96, for a total transaction of $17,458,308.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel Tia Sherringham sold 1,880 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $120.15, for a total transaction of $225,882.00. Following the sale, the general counsel now directly owns 217,260 shares in the company, valued at approximately $26,103,789. The disclosure for this sale can be found here. Insiders sold 487,082 shares of company stock worth $63,970,010 in the last quarter. 9.59% of the stock is owned by corporate insiders.

DoorDash Stock Performance

Shares of DASH stock traded down $2.54 during mid-day trading on Wednesday, reaching $113.02. The company’s stock had a trading volume of 4,522,915 shares, compared to its average volume of 3,926,663. DoorDash, Inc. has a 1-year low of $62.83 and a 1-year high of $143.34. The company has a market cap of $45.66 billion, a P/E ratio of -107.00, a PEG ratio of 15.89 and a beta of 1.78. The firm’s 50-day moving average is $131.65 and its two-hundred day moving average is $111.24.

DoorDash (NASDAQ:DASH) last announced its 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. The business had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.45 billion. DoorDash had a negative net margin of 4.61% and a negative return on equity of 6.28%. The firm’s revenue for the quarter was up 23.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.41) EPS. Sell-side analysts anticipate that DoorDash, Inc. will post 0.17 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on DASH shares. UBS Group reduced their price target on shares of DoorDash from $123.00 to $118.00 and set a “neutral” rating for the company in a research note on Friday, February 16th. JMP Securities dropped their target price on shares of DoorDash from $160.00 to $140.00 and set a “market outperform” rating on the stock in a report on Thursday, May 2nd. Wedbush reiterated a “neutral” rating and issued a $115.00 target price on shares of DoorDash in a report on Thursday, May 2nd. BMO Capital Markets dropped their target price on shares of DoorDash from $138.00 to $127.00 and set an “outperform” rating on the stock in a report on Thursday, May 2nd. Finally, The Goldman Sachs Group boosted their price target on shares of DoorDash from $109.00 to $122.00 and gave the company a “neutral” rating in a report on Friday, February 16th. Nine analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, DoorDash currently has a consensus rating of “Moderate Buy” and a consensus target price of $129.96.

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.