Harvest Fund Management Co. Ltd Has $3.34 Million Stake in DoorDash, Inc. (NASDAQ:DASH)

Harvest Fund Management Co. Ltd lifted its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 89.6% during the third quarter, Holdings Channel.com reports. The firm owned 23,430 shares of the company’s stock after buying an additional 11,071 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in DoorDash were worth $3,343,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Asset Management One Co. Ltd. increased its position in DoorDash by 10.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 112,181 shares of the company’s stock worth $16,012,000 after buying an additional 10,755 shares during the period. Marshall Wace LLP grew its stake in shares of DoorDash by 930.5% in the second quarter. Marshall Wace LLP now owns 675,988 shares of the company’s stock valued at $73,534,000 after acquiring an additional 610,388 shares in the last quarter. Forsta AP Fonden raised its stake in DoorDash by 18.6% in the 3rd quarter. Forsta AP Fonden now owns 64,500 shares of the company’s stock worth $9,206,000 after purchasing an additional 10,100 shares in the last quarter. Baillie Gifford & Co. raised its stake in DoorDash by 13.2% in the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock worth $2,018,584,000 after purchasing an additional 1,645,186 shares in the last quarter. Finally, CWM LLC grew its position in shares of DoorDash by 97.1% during the 3rd quarter. CWM LLC now owns 10,705 shares of the company’s stock worth $1,528,000 after purchasing an additional 5,273 shares in the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity at DoorDash

In other DoorDash news, CEO Tony Xu sold 54,166 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $140.06, for a total value of $7,586,489.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 18,089 shares in the company, valued at $3,123,427.63. The trade was a 73.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 547,753 shares of company stock worth $84,544,996 in the last quarter. Company insiders own 7.92% of the company’s stock.

DoorDash Price Performance

Shares of NASDAQ:DASH opened at $177.24 on Monday. The business’s 50-day moving average is $153.61 and its 200-day moving average is $129.08. DoorDash, Inc. has a 1 year low of $92.56 and a 1 year high of $178.16.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.17. The firm had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.66 billion. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The company’s revenue was up 25.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.19) earnings per share. Equities analysts anticipate that DoorDash, Inc. will post 0.26 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on DASH shares. Raymond James assumed coverage on shares of DoorDash in a research report on Tuesday, September 24th. They issued an “outperform” rating and a $155.00 price target for the company. Evercore ISI upped their target price on DoorDash from $155.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Wedbush restated a “neutral” rating and issued a $115.00 price target on shares of DoorDash in a research report on Friday, August 2nd. Roth Mkm raised their price target on DoorDash from $118.00 to $124.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Finally, Needham & Company LLC upped their price objective on shares of DoorDash from $145.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Ten investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price 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.