PointState Capital LP Acquires 337,275 Shares of DoorDash, Inc. (NASDAQ:DASH)

PointState Capital LP increased its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 63.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 871,263 shares of the company’s stock after buying an additional 337,275 shares during the quarter. DoorDash accounts for about 2.3% of PointState Capital LP’s holdings, making the stock its 11th biggest holding. PointState Capital LP’s holdings in DoorDash were worth $124,355,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of DASH. Rakuten Securities Inc. lifted its position in shares of DoorDash by 302.3% during the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $25,000 after buying an additional 130 shares during the last quarter. Meeder Asset Management Inc. increased its holdings in DoorDash by 82.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after purchasing an additional 132 shares in the last quarter. Headlands Technologies LLC acquired a new position in DoorDash in the 2nd quarter worth about $32,000. Quest Partners LLC increased its holdings in DoorDash by 146.8% in the 2nd quarter. Quest Partners LLC now owns 343 shares of the company’s stock worth $37,000 after purchasing an additional 204 shares in the last quarter. Finally, First Horizon Advisors Inc. increased its holdings in DoorDash by 141.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 352 shares of the company’s stock worth $38,000 after purchasing an additional 206 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors.

DoorDash Price Performance

NASDAQ DASH opened at $176.09 on Wednesday. The stock has a market capitalization of $73.15 billion, a price-to-earnings ratio of -391.31, a PEG ratio of 13.56 and a beta of 1.70. DoorDash, Inc. has a 1-year low of $93.33 and a 1-year high of $181.30. The business’s fifty day moving average price is $158.85 and its 200-day moving average price is $131.73.

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, topping analysts’ consensus estimates of $0.21 by $0.17. The business had revenue of $2.71 billion during 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%. DoorDash’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.19) EPS. Equities research analysts anticipate that DoorDash, Inc. will post 0.26 EPS for the current year.

Insiders Place Their Bets

In other DoorDash news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $130.20, for a total value of $6,510,000.00. Following the sale, the director now directly owns 18,089 shares of the company’s stock, valued at approximately $2,355,187.80. This represents a 73.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stanley Tang sold 1,855 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $169.98, for a total transaction of $315,312.90. Following the sale, the director now directly owns 35,413 shares in the company, valued at approximately $6,019,501.74. The trade was a 4.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 661,596 shares of company stock valued at $105,386,905 over the last 90 days. Insiders own 7.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on DASH shares. Keefe, Bruyette & Woods raised DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 target price for the company in a report on Wednesday, September 25th. KeyCorp increased their price target on DoorDash from $177.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Susquehanna increased their price target on DoorDash from $140.00 to $180.00 and gave the company a “positive” rating in a research note on Friday, November 1st. BMO Capital Markets increased their price target on DoorDash from $140.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. raised their target price on DoorDash from $137.00 to $155.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Ten analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $166.06.

DoorDash Company 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.