Tidal Investments LLC Grows Position in DoorDash, Inc. (NASDAQ:DASH)

Tidal Investments LLC boosted its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 658.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 35,045 shares of the company’s stock after purchasing an additional 30,425 shares during the period. Tidal Investments LLC’s holdings in DoorDash were worth $4,826,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Spire Wealth Management purchased a new stake in shares of DoorDash in the 1st quarter valued at $25,000. Venturi Wealth Management LLC boosted its holdings in shares of DoorDash by 54.5% in the 1st quarter. Venturi Wealth Management LLC now owns 255 shares of the company’s stock valued at $35,000 after acquiring an additional 90 shares during the last quarter. ORG Partners LLC boosted its holdings in shares of DoorDash by 2,108.3% in the 1st quarter. ORG Partners LLC now owns 265 shares of the company’s stock valued at $37,000 after acquiring an additional 253 shares during the last quarter. Hollencrest Capital Management purchased a new stake in shares of DoorDash in the 1st quarter valued at $42,000. Finally, Parkside Financial Bank & Trust boosted its holdings in DoorDash by 361.2% during the fourth quarter. Parkside Financial Bank & Trust now owns 392 shares of the company’s stock worth $39,000 after buying an additional 307 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Roth Mkm lowered their price target on shares of DoorDash from $121.00 to $118.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. Royal Bank of Canada lowered their price target on shares of DoorDash from $175.00 to $165.00 and set an “outperform” rating on the stock in a report on Thursday, May 2nd. Moffett Nathanson upgraded shares of DoorDash from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $118.00 to $164.00 in a research report on Thursday, April 11th. Argus started coverage on shares of DoorDash in a research report on Tuesday, July 23rd. They set a “hold” rating for the company. Finally, Redburn Atlantic started coverage on shares of DoorDash in a research report on Friday, July 26th. They set a “buy” rating and a $170.00 price objective for the company. Ten research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, DoorDash presently has a consensus rating of “Moderate Buy” and an average price target of $139.16.

Insiders Place Their Bets

In other DoorDash news, CEO Tony Xu sold 54,166 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $104.96, for a total transaction of $5,685,263.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Tony Xu sold 54,166 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $104.96, for a total value of $5,685,263.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ravi Inukonda sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $110.47, for a total transaction of $773,290.00. Following the completion of the transaction, the chief financial officer now directly owns 441,851 shares of the company’s stock, valued at approximately $48,811,279.97. The disclosure for this sale can be found here. Insiders sold a total of 459,016 shares of company stock valued at $50,325,396 over the last 90 days. 7.92% of the stock is owned by company insiders.

DoorDash Price Performance

Shares of DASH traded up $9.33 during mid-day trading on Friday, reaching $117.53. The stock had a trading volume of 1,567,097 shares, compared to its average volume of 3,985,001. DoorDash, Inc. has a 52-week low of $69.90 and a 52-week high of $143.34. The business’s fifty day moving average is $109.27 and its 200 day moving average is $118.16. The firm has a market cap of $48.06 billion, a price-to-earnings ratio of -108.82, a P/E/G ratio of 41.18 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.28). The firm had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.54 billion. DoorDash had a negative net margin of 4.61% and a negative return on equity of 6.28%. The company’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.44) EPS. As a group, sell-side analysts anticipate that DoorDash, Inc. will post 0.07 EPS for the current fiscal 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.