Sienna Gestion Takes Position in DoorDash, Inc. (NASDAQ:DASH)

Sienna Gestion acquired a new position in shares of DoorDash, Inc. (NASDAQ:DASH) in the 2nd quarter, Holdings Channel.com reports. The fund acquired 31,536 shares of the company’s stock, valued at approximately $3,429,000.

Several other institutional investors have also recently modified their holdings of DASH. Spire Wealth Management purchased a new position in DoorDash during the first quarter worth $25,000. ORG Partners LLC increased its position in DoorDash by 2,108.3% during the 1st quarter. ORG Partners LLC now owns 265 shares of the company’s stock worth $37,000 after purchasing an additional 253 shares in the last quarter. Headlands Technologies LLC purchased a new stake in DoorDash during the 2nd quarter worth about $32,000. Meeder Asset Management Inc. raised its stake in DoorDash by 82.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock valued at $32,000 after purchasing an additional 132 shares during the last quarter. Finally, Hollencrest Capital Management purchased a new position in DoorDash in the 1st quarter valued at about $42,000. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at DoorDash

In other news, insider Keith Yandell sold 6,554 shares of DoorDash stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $107.75, for a total transaction of $706,193.50. Following the sale, the insider now directly owns 155,097 shares of the company’s stock, valued at $16,711,701.75. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Keith Yandell sold 6,554 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $107.75, for a total transaction of $706,193.50. Following the completion of the sale, the insider now owns 155,097 shares of the company’s stock, valued at $16,711,701.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Shona L. Brown sold 1,712 shares of the company’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $110.97, for a total transaction of $189,980.64. Following the completion of the sale, the director now directly owns 70,191 shares in the company, valued at $7,789,095.27. The disclosure for this sale can be found here. Insiders sold a total of 304,769 shares of company stock valued at $34,760,113 in the last ninety days. Insiders own 7.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on DASH. JPMorgan Chase & Co. boosted their price objective on shares of DoorDash from $111.00 to $137.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. BMO Capital Markets boosted their price target on DoorDash from $127.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Argus initiated coverage on DoorDash in a report on Tuesday, July 23rd. They set a “hold” rating on the stock. Roth Mkm upped their target price on DoorDash from $118.00 to $124.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. Finally, Wolfe Research started coverage on DoorDash in a research report on Tuesday, July 16th. They set an “outperform” rating and a $130.00 target price on the stock. Eleven investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $142.57.

DoorDash Stock Up 2.0 %

NASDAQ DASH opened at $132.48 on Thursday. DoorDash, Inc. has a fifty-two week low of $69.90 and a fifty-two week high of $143.34. The business has a 50 day moving average price of $119.51 and a two-hundred day moving average price of $121.34. The stock has a market cap of $54.17 billion, a PE ratio of -122.67, a P/E/G ratio of 275.59 and a beta of 1.69.

DoorDash (NASDAQ:DASH) last announced its earnings results on Thursday, August 1st. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.29). 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 4.24% and a negative return on equity of 5.91%. DoorDash’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.44) earnings per share. Sell-side analysts anticipate that DoorDash, Inc. will post 0.01 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.