Versant Capital Management Inc Boosts Stake in DoorDash, Inc. (NASDAQ:DASH)

Versant Capital Management Inc raised its position in DoorDash, Inc. (NASDAQ:DASH) by 340.8% during the second quarter, HoldingsChannel.com reports. The firm owned 335 shares of the company’s stock after purchasing an additional 259 shares during the period. Versant Capital Management Inc’s holdings in DoorDash were worth $36,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Janus Henderson Group PLC boosted its stake in shares of DoorDash by 11,416.7% during the first quarter. Janus Henderson Group PLC now owns 3,455,116 shares of the company’s stock valued at $475,837,000 after purchasing an additional 3,425,115 shares in the last quarter. Norges Bank bought a new position in shares of DoorDash during the fourth quarter valued at approximately $264,806,000. Vanguard Group Inc. boosted its stake in shares of DoorDash by 8.4% during the fourth quarter. Vanguard Group Inc. now owns 29,303,496 shares of the company’s stock valued at $2,897,823,000 after purchasing an additional 2,259,976 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of DoorDash by 294.5% during the fourth quarter. Franklin Resources Inc. now owns 1,607,776 shares of the company’s stock valued at $158,993,000 after purchasing an additional 1,200,181 shares in the last quarter. Finally, Los Angeles Capital Management LLC boosted its stake in shares of DoorDash by 40,319.6% during the fourth quarter. Los Angeles Capital Management LLC now owns 1,039,592 shares of the company’s stock valued at $102,805,000 after purchasing an additional 1,037,020 shares in the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Truist Financial raised their target price on shares of DoorDash from $145.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. KeyCorp assumed coverage on shares of DoorDash in a research note on Thursday, July 11th. They issued a “sector weight” rating for the company. Wedbush restated a “neutral” rating and issued a $115.00 target price on shares of DoorDash in a research note on Friday, August 2nd. Piper Sandler restated a “neutral” rating and issued a $125.00 target price (up from $115.00) on shares of DoorDash in a research note on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of DoorDash from $140.00 to $155.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Eleven research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, DoorDash presently has a consensus rating of “Moderate Buy” and a consensus price target of $141.93.

Insider Activity

In related news, General Counsel Tia Sherringham sold 11,740 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $110.46, for a total transaction of $1,296,800.40. Following the transaction, the general counsel now directly owns 183,512 shares in the company, valued at $20,270,735.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other DoorDash news, General Counsel Tia Sherringham sold 11,740 shares of the business’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $110.46, for a total value of $1,296,800.40. Following the transaction, the general counsel now directly owns 183,512 shares in the company, valued at approximately $20,270,735.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $113.40, for a total transaction of $5,670,000.00. Following the completion of the transaction, the director now owns 39,275 shares in the company, valued at $4,453,785. The disclosure for this sale can be found here. Insiders have sold a total of 459,016 shares of company stock worth $50,325,396 over the last 90 days. 7.92% of the stock is currently owned by company insiders.

DoorDash Trading Up 2.1 %

DASH traded up $2.61 on Wednesday, reaching $125.25. The stock had a trading volume of 2,907,674 shares, compared to its average volume of 4,118,394. DoorDash, Inc. has a 12-month low of $69.90 and a 12-month high of $143.34. The business’s 50-day moving average price is $109.73 and its two-hundred day moving average price is $118.69. The company has a market cap of $51.22 billion, a P/E ratio of -113.56, a price-to-earnings-growth ratio of 40.25 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.29). DoorDash had a negative net margin of 4.24% and a negative return on equity of 6.00%. The firm had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $2.54 billion. During the same period in the previous year, the firm posted ($0.44) EPS. The firm’s quarterly revenue was up 23.3% on a year-over-year basis. As a group, analysts predict that DoorDash, Inc. will post 0.07 earnings per share for the current 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.