Dynamic Technology Lab Private Ltd Trims Holdings in DoorDash, Inc. (NASDAQ:DASH)

Dynamic Technology Lab Private Ltd reduced its stake in DoorDash, Inc. (NASDAQ:DASH) by 24.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 12,980 shares of the company’s stock after selling 4,103 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in DoorDash were worth $1,853,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Brighton Jones LLC boosted its position in shares of DoorDash by 0.8% during the second quarter. Brighton Jones LLC now owns 10,317 shares of the company’s stock worth $1,122,000 after buying an additional 82 shares during the period. Everhart Financial Group Inc. boosted its holdings in DoorDash by 3.1% during the 2nd quarter. Everhart Financial Group Inc. now owns 3,267 shares of the company’s stock valued at $355,000 after acquiring an additional 99 shares during the period. E Fund Management Co. Ltd. grew its position in DoorDash by 3.5% in the 2nd quarter. E Fund Management Co. Ltd. now owns 3,263 shares of the company’s stock valued at $355,000 after acquiring an additional 111 shares in the last quarter. SJS Investment Consulting Inc. increased its stake in DoorDash by 21.0% during the second quarter. SJS Investment Consulting Inc. now owns 673 shares of the company’s stock worth $73,000 after purchasing an additional 117 shares during the period. Finally, Venturi Wealth Management LLC increased its stake in DoorDash by 39.0% during the third quarter. Venturi Wealth Management LLC now owns 424 shares of the company’s stock worth $61,000 after purchasing an additional 119 shares during the period. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Insiders Place Their Bets

In related news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $172.67, for a total transaction of $8,633,500.00. Following the transaction, the director now owns 18,089 shares of the company’s stock, valued at $3,123,427.63. This represents a 73.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Tony Xu sold 54,166 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $140.06, for a total value of $7,586,489.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 547,753 shares of company stock worth $84,544,996. 7.92% of the stock is owned by insiders.

DoorDash Stock Up 1.0 %

Shares of DASH stock opened at $179.10 on Tuesday. The stock’s 50-day moving average price is $154.57 and its 200 day moving average price is $129.52. The stock has a market capitalization of $74.40 billion, a PE ratio of -398.00, a price-to-earnings-growth ratio of 13.63 and a beta of 1.67. DoorDash, Inc. has a 52-week low of $92.56 and a 52-week high of $179.13.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.21 by $0.17. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The business had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the prior year, the business earned ($0.19) earnings per share. The company’s quarterly revenue was up 25.0% compared to the same quarter last year. Analysts expect that DoorDash, Inc. will post 0.26 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on DASH shares. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price objective on shares of DoorDash in a research note on Monday, October 7th. Evercore ISI raised their price target on shares of DoorDash from $155.00 to $200.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Benchmark upped their price objective on DoorDash from $152.00 to $173.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Barclays increased their price objective on DoorDash from $120.00 to $163.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Finally, Oppenheimer boosted their target price on DoorDash from $145.00 to $160.00 and gave the stock an “outperform” rating in a research note on Friday, September 27th. Ten research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $164.03.

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.