PDT Partners LLC Invests $5.24 Million in DoorDash, Inc. (NYSE:DASH)

PDT Partners LLC bought a new position in DoorDash, Inc. (NYSE:DASH) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 29,362 shares of the company’s stock, valued at approximately $5,236,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Tsfg LLC acquired a new stake in shares of DoorDash in the 2nd quarter worth $63,000. Toronto Dominion Bank acquired a new stake in shares of DoorDash in the second quarter valued at about $64,000. Daiwa Securities Group Inc. lifted its stake in shares of DoorDash by 147.1% in the second quarter. Daiwa Securities Group Inc. now owns 420 shares of the company’s stock valued at $75,000 after purchasing an additional 250 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of DoorDash by 40.5% in the second quarter. PNC Financial Services Group Inc. now owns 524 shares of the company’s stock valued at $93,000 after purchasing an additional 151 shares during the period. Finally, Federated Hermes Inc. acquired a new stake in shares of DoorDash in the second quarter valued at about $141,000. Institutional investors own 73.53% of the company’s stock.

Several analysts recently commented on the stock. Wells Fargo & Company raised their price objective on shares of DoorDash from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, August 13th. Zacks Investment Research upgraded shares of DoorDash from a “sell” rating to a “hold” rating in a research note on Monday, September 13th. Royal Bank of Canada raised their price objective on shares of DoorDash from $175.00 to $210.00 and gave the company an “outperform” rating in a research note on Friday, August 13th. Bank of America upgraded shares of DoorDash from a “neutral” rating to a “buy” rating and set a $225.00 price objective for the company in a research note on Thursday, September 16th. Finally, The Goldman Sachs Group assumed coverage on shares of DoorDash in a report on Monday, September 13th. They set a “neutral” rating and a $187.00 target price for the company. Twelve research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $199.65.

Shares of NYSE DASH traded down $0.90 during midday trading on Thursday, reaching $198.05. 24,190 shares of the stock were exchanged, compared to its average volume of 3,098,146. The company has a market capitalization of $66.93 billion and a P/E ratio of -26.92. DoorDash, Inc. has a 52-week low of $110.13 and a 52-week high of $256.09. The stock has a 50 day moving average price of $201.18 and a 200-day moving average price of $172.56.

DoorDash (NYSE:DASH) last issued its quarterly earnings results on Thursday, August 12th. The company reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.10). The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.10 billion. Research analysts predict that DoorDash, Inc. will post -1.13 earnings per share for the current year.

In related news, Director Stanley Tang sold 55,000 shares of the business’s stock in a transaction that occurred on Monday, October 18th. The shares were sold at an average price of $214.67, for a total value of $11,806,850.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Prabir Adarkar sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, October 18th. The shares were sold at an average price of $214.60, for a total transaction of $1,073,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 12,096,752 shares of company stock valued at $2,200,978,075. 15.54% of the stock is owned by insiders.

About DoorDash

DoorDash, Inc operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash marketplace, which provides an array of services that enable merchants to solve mission-critical challenges, such as customer acquisition, delivery, insights and analytics, merchandising, payment processing, and customer support; and offers DoorDash Drive, a white-label logistics service; DoorDash Storefront that enables merchants to offer consumers on-demand access to e-commerce.

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Institutional Ownership by Quarter for DoorDash (NYSE:DASH)

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