Plato Investment Management Ltd Buys 11,711 Shares of DoorDash, Inc. (NASDAQ:DASH)

Plato Investment Management Ltd raised its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 2,444.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,190 shares of the company’s stock after acquiring an additional 11,711 shares during the period. Plato Investment Management Ltd’s holdings in DoorDash were worth $1,679,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Spire Wealth Management purchased a new stake in shares of DoorDash during the first quarter valued at approximately $25,000. Venturi Wealth Management LLC raised its stake in shares of DoorDash by 54.5% during the 1st quarter. Venturi Wealth Management LLC now owns 255 shares of the company’s stock worth $35,000 after purchasing an additional 90 shares during the period. 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 worth $37,000 after buying an additional 253 shares during the last quarter. Parkside Financial Bank & Trust grew its position in DoorDash by 361.2% during the fourth quarter. Parkside Financial Bank & Trust now owns 392 shares of the company’s stock valued at $39,000 after buying an additional 307 shares during the period. Finally, Hollencrest Capital Management bought a new position in DoorDash during the first quarter valued at about $42,000. 90.64% of the stock is owned by hedge funds and other institutional investors.

DoorDash Trading Down 2.3 %

Shares of NASDAQ:DASH traded down $2.52 during trading on Thursday, reaching $108.20. The company had a trading volume of 7,880,810 shares, compared to its average volume of 4,000,610. DoorDash, Inc. has a 12 month low of $69.90 and a 12 month high of $143.34. The stock has a market capitalization of $44.24 billion, a P/E ratio of -100.19, a price-to-earnings-growth ratio of 39.88 and a beta of 1.67. The company has a fifty day moving average of $109.27 and a two-hundred day moving average of $118.16.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, May 1st. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. The business had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.45 billion. DoorDash had a negative return on equity of 6.28% and a negative net margin of 4.61%. The company’s revenue for the quarter was up 23.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.41) earnings per share. As a group, equities research analysts predict that DoorDash, Inc. will post 0.07 earnings per share for the current year.

Insider Activity at DoorDash

In other news, CEO Tony Xu sold 131,590 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $111.61, for a total value of $14,686,759.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $113.40, for a total transaction of $5,670,000.00. Following the transaction, the director now directly owns 39,275 shares in the company, valued at approximately $4,453,785. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Tony Xu sold 131,590 shares of DoorDash stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $111.61, for a total value of $14,686,759.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 459,016 shares of company stock valued at $50,325,396. Corporate insiders own 7.92% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on DASH. Roth Mkm dropped their target price on shares of DoorDash from $121.00 to $118.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. BMO Capital Markets decreased their target price on DoorDash from $138.00 to $127.00 and set an “outperform” rating for the company in a research report on Thursday, May 2nd. Argus initiated coverage on DoorDash in a research report on Tuesday, July 23rd. They set a “hold” rating on the stock. Wedbush reiterated a “neutral” rating and set a $115.00 price target on shares of DoorDash in a research note on Thursday, May 2nd. Finally, Truist Financial lowered their price objective on DoorDash from $155.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Ten equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, DoorDash presently has an average rating of “Moderate Buy” and an average price target of $135.96.

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.