Sage Mountain Advisors LLC Raises Position in DoorDash, Inc. $DASH

Sage Mountain Advisors LLC grew its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 33.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,621 shares of the company’s stock after buying an additional 406 shares during the quarter. Sage Mountain Advisors LLC’s holdings in DoorDash were worth $400,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. boosted its stake in DoorDash by 21.7% during the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,108,014 shares of the company’s stock valued at $273,137,000 after purchasing an additional 197,485 shares during the last quarter. West Michigan Advisors LLC bought a new position in shares of DoorDash during the second quarter valued at $202,000. Asset Management One Co. Ltd. boosted its position in shares of DoorDash by 3.1% during the second quarter. Asset Management One Co. Ltd. now owns 150,650 shares of the company’s stock valued at $37,137,000 after buying an additional 4,510 shares during the last quarter. R Squared Ltd bought a new stake in DoorDash in the 2nd quarter worth about $217,000. Finally, Forum Financial Management LP raised its position in DoorDash by 6.9% in the 2nd quarter. Forum Financial Management LP now owns 2,441 shares of the company’s stock worth $602,000 after buying an additional 158 shares during the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other DoorDash news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $275.74, for a total value of $13,787,000.00. Following the completion of the transaction, the director directly owned 22,545 shares in the company, valued at $6,216,558.30. This represents a 68.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Tony Xu sold 291,403 shares of the firm’s stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $238.19, for a total transaction of $69,409,280.57. Following the sale, the chief executive officer owned 229,047 shares in the company, valued at $54,556,704.93. The trade was a 55.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 932,156 shares of company stock worth $233,565,302 over the last ninety days. Company insiders own 5.83% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on DASH. Guggenheim raised shares of DoorDash to a “strong-buy” rating in a report on Wednesday, October 15th. Stifel Nicolaus lifted their target price on shares of DoorDash from $214.00 to $239.00 and gave the stock a “hold” rating in a research report on Thursday, August 7th. Benchmark increased their price target on DoorDash from $260.00 to $315.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Morgan Stanley lifted their price objective on DoorDash from $300.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Finally, Needham & Company LLC set a $300.00 price objective on DoorDash and gave the company a “buy” rating in a research report on Thursday, August 7th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat, DoorDash presently has a consensus rating of “Moderate Buy” and a consensus price target of $287.79.

DoorDash Stock Performance

NASDAQ:DASH opened at $258.15 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.07 and a current ratio of 2.07. The stock has a 50-day simple moving average of $259.75 and a two-hundred day simple moving average of $233.03. The firm has a market capitalization of $110.28 billion, a PE ratio of 143.42 and a beta of 1.71. DoorDash, Inc. has a 52-week low of $152.26 and a 52-week high of $285.50.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.23. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.16 billion. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.The business’s quarterly revenue was up 24.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.38) EPS. Analysts forecast that DoorDash, Inc. will post 2.22 EPS for the current year.

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.