R Squared Ltd Takes $217,000 Position in DoorDash, Inc. $DASH

R Squared Ltd bought a new stake in shares of DoorDash, Inc. (NASDAQ:DASH) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 882 shares of the company’s stock, valued at approximately $217,000.

A number of other hedge funds have also recently modified their holdings of DASH. Brighton Jones LLC grew its stake in shares of DoorDash by 24.0% during the fourth quarter. Brighton Jones LLC now owns 9,336 shares of the company’s stock valued at $1,566,000 after buying an additional 1,807 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of DoorDash by 70.4% during the first quarter. GAMMA Investing LLC now owns 1,922 shares of the company’s stock valued at $351,000 after buying an additional 794 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of DoorDash during the first quarter valued at approximately $324,000. Moran Wealth Management LLC bought a new position in shares of DoorDash during the first quarter valued at approximately $231,000. Finally, Spire Wealth Management grew its stake in shares of DoorDash by 732.3% during the first quarter. Spire Wealth Management now owns 5,302 shares of the company’s stock valued at $969,000 after buying an additional 4,665 shares during the last quarter. Institutional investors own 90.64% of the company’s stock.

DoorDash Stock Performance

Shares of DASH opened at $258.15 on Friday. DoorDash, Inc. has a 12 month low of $152.26 and a 12 month high of $285.50. The stock has a fifty day moving average price of $259.75 and a 200-day moving average price of $233.03. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.30. The firm has a market cap of $110.28 billion, a PE ratio of 143.42 and a beta of 1.71.

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

Insider Activity

In other news, Director Shona L. Brown sold 1,250 shares of the stock in a transaction on Thursday, October 9th. The stock was sold at an average price of $277.47, for a total transaction of $346,837.50. Following the completion of the sale, the director owned 37,252 shares in the company, valued at approximately $10,336,312.44. This represents a 3.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Ravi Inukonda sold 1,425 shares of the stock in a transaction on Monday, October 20th. The shares were sold at an average price of $263.86, for a total value of $376,000.50. Following the sale, the chief financial officer owned 214,147 shares of the company’s stock, valued at approximately $56,504,827.42. This represents a 0.66% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 932,156 shares of company stock worth $233,565,302. Company insiders own 5.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on DASH. UBS Group boosted their price target on DoorDash from $260.00 to $280.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. Benchmark boosted 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 boosted their price target on DoorDash from $300.00 to $330.00 and gave the company an “overweight” rating in a report on Monday, October 20th. Sanford C. Bernstein boosted their price target on DoorDash from $210.00 to $265.00 and gave the company an “outperform” rating in a report on Monday, July 21st. Finally, Roth Capital boosted their price target on DoorDash from $191.00 to $225.00 and gave the company a “neutral” rating in a report on Monday, July 14th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $287.79.

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.