AQR Capital Management LLC Has $7.90 Million Stock Position in DoorDash, Inc. (NASDAQ:DASH)

AQR Capital Management LLC lessened its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 63.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 72,637 shares of the company’s stock after selling 124,269 shares during the quarter. AQR Capital Management LLC’s holdings in DoorDash were worth $7,901,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Brighton Jones LLC raised its holdings in DoorDash by 0.8% during the 2nd 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. raised its holdings in shares of DoorDash by 3.1% during the second quarter. Everhart Financial Group Inc. now owns 3,267 shares of the company’s stock worth $355,000 after acquiring an additional 99 shares during the period. GAMMA Investing LLC raised its holdings in shares of DoorDash by 17.2% during the first quarter. GAMMA Investing LLC now owns 736 shares of the company’s stock worth $101,000 after acquiring an additional 108 shares during the period. E Fund Management Co. Ltd. lifted 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. Finally, SJS Investment Consulting Inc. boosted its stake in DoorDash by 21.0% in the 2nd 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. 90.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. increased their price objective on DoorDash from $111.00 to $137.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Needham & Company LLC lifted their price objective on shares of DoorDash from $137.00 to $145.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Wolfe Research began coverage on shares of DoorDash in a report on Tuesday, July 16th. They set an “outperform” rating and a $130.00 target price for the company. Benchmark reiterated a “buy” rating and issued a $150.00 price target on shares of DoorDash in a research note on Tuesday, July 30th. Finally, KeyCorp upgraded shares of DoorDash from a “sector weight” rating to an “overweight” rating and set a $177.00 price objective for the company in a research note on Wednesday, September 25th. Ten research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $146.44.

DoorDash Trading Down 1.0 %

Shares of DoorDash stock opened at $142.12 on Friday. The company has a 50 day moving average of $127.41 and a 200-day moving average of $122.12. The company has a market cap of $58.11 billion, a PE ratio of -131.59, a price-to-earnings-growth ratio of 295.70 and a beta of 1.70. DoorDash, Inc. has a 1-year low of $69.90 and a 1-year high of $146.36.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.29). The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.54 billion. DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. DoorDash’s quarterly revenue was up 23.3% on a year-over-year basis. During the same period last year, the firm posted ($0.44) EPS. Research analysts forecast that DoorDash, Inc. will post 0.01 earnings per share for the current year.

Insider Activity

In related news, CEO Tony Xu sold 54,166 shares of the company’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 transaction of $5,685,263.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other DoorDash news, CEO Tony Xu sold 54,166 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $104.96, for a total value of $5,685,263.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $105.57, for a total value of $5,278,500.00. Following the sale, the director now directly owns 19,982 shares in the company, valued at $2,109,499.74. The disclosure for this sale can be found here. In the last three months, insiders have sold 281,503 shares of company stock worth $33,988,063. Corporate insiders own 7.92% of the company’s stock.

DoorDash Company 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.