Parkwood LLC Takes $9.32 Million Position in DoorDash, Inc. (NASDAQ:DASH)

Parkwood LLC bought a new position in shares of DoorDash, Inc. (NASDAQ:DASH) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 55,581 shares of the company’s stock, valued at approximately $9,324,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. raised its position in shares of DoorDash by 25.0% during the 3rd quarter. Principal Financial Group Inc. now owns 90,786 shares of the company’s stock worth $12,958,000 after purchasing an additional 18,155 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in DoorDash by 0.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 11,744 shares of the company’s stock worth $1,970,000 after buying an additional 84 shares during the period. Wedmont Private Capital grew its stake in DoorDash by 4.0% during the 4th quarter. Wedmont Private Capital now owns 5,578 shares of the company’s stock valued at $949,000 after purchasing an additional 215 shares in the last quarter. Pallas Capital Advisors LLC raised its stake in shares of DoorDash by 3.7% in the 4th quarter. Pallas Capital Advisors LLC now owns 2,465 shares of the company’s stock valued at $414,000 after purchasing an additional 88 shares in the last quarter. Finally, MRA Advisory Group acquired a new stake in shares of DoorDash during the fourth quarter worth $221,000. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Oppenheimer reissued a “hold” rating on shares of DoorDash in a research note on Monday, March 10th. Wells Fargo & Company lowered their price objective on DoorDash from $201.00 to $198.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 7th. Truist Financial increased their target price on DoorDash from $217.00 to $235.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Citigroup reissued an “outperform” rating on shares of DoorDash in a research note on Monday, April 28th. Finally, UBS Group reduced their price objective on DoorDash from $197.00 to $196.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 7th. Ten research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $209.97.

Insider Activity

In other news, General Counsel Tia Sherringham sold 12,088 shares of DoorDash stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $203.45, for a total transaction of $2,459,303.60. Following the transaction, the general counsel now owns 122,135 shares in the company, valued at $24,848,365.75. The trade was a 9.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Stanley Tang sold 45,410 shares of the business’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $181.21, for a total transaction of $8,228,746.10. Following the completion of the sale, the director now directly owns 18,285 shares in the company, valued at approximately $3,313,424.85. This represents a 71.29% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 158,573 shares of company stock worth $30,407,073. 7.92% of the stock is owned by corporate insiders.

DoorDash Stock Up 3.0%

Shares of NASDAQ DASH opened at $197.80 on Wednesday. DoorDash, Inc. has a 52-week low of $99.32 and a 52-week high of $215.25. The stock’s fifty day simple moving average is $184.91 and its 200 day simple moving average is $181.41. The stock has a market capitalization of $83.09 billion, a price-to-earnings ratio of 732.59 and a beta of 1.68.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.39 by $0.05. The company had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.10 billion. DoorDash had a net margin of 1.15% and a return on equity of 1.67%. DoorDash’s quarterly revenue was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.06) EPS. As a group, analysts anticipate that DoorDash, Inc. will post 2.22 earnings per share for the current year.

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.