Summit Trail Advisors LLC Has $5.53 Million Stake in DoorDash, Inc. (NASDAQ:DASH)

Summit Trail Advisors LLC raised its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 1.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 38,730 shares of the company’s stock after buying an additional 600 shares during the period. Summit Trail Advisors LLC’s holdings in DoorDash were worth $5,528,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. O Shaughnessy Asset Management LLC grew its stake in shares of DoorDash by 29.4% during the first quarter. O Shaughnessy Asset Management LLC now owns 8,565 shares of the company’s stock valued at $1,180,000 after purchasing an additional 1,944 shares during the last quarter. LRI Investments LLC bought a new stake in shares of DoorDash during the first quarter valued at approximately $105,000. Lazard Asset Management LLC grew its stake in shares of DoorDash by 18,975.0% during the first quarter. Lazard Asset Management LLC now owns 2,289 shares of the company’s stock valued at $314,000 after purchasing an additional 2,277 shares during the last quarter. Kodai Capital Management LP bought a new stake in shares of DoorDash during the first quarter valued at approximately $18,005,000. Finally, Janus Henderson Group PLC grew 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 during the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

Insider Buying and Selling at DoorDash

In other news, CFO Ravi Inukonda sold 7,000 shares of DoorDash stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $127.86, for a total value of $895,020.00. Following the completion of the transaction, the chief financial officer now owns 396,152 shares of the company’s stock, valued at $50,651,994.72. This trade represents a 1.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the completion of the transaction, the director now directly owns 18,089 shares of the company’s stock, valued at approximately $2,355,187.80. This trade represents a 73.43 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 547,753 shares of company stock worth $84,544,996. Insiders own 7.92% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Truist Financial increased their price target on shares of DoorDash from $170.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. KeyCorp raised their price objective on shares of DoorDash from $177.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Barclays raised their price objective on shares of DoorDash from $120.00 to $163.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Wedbush reaffirmed a “neutral” rating and issued a $115.00 price objective on shares of DoorDash in a research note on Friday, August 2nd. Finally, BTIG Research raised shares of DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 price objective on the stock in a research note on Thursday, September 19th. Ten equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $164.03.

DoorDash Trading Up 2.4 %

Shares of DASH stock opened at $177.24 on Friday. DoorDash, Inc. has a 1 year low of $92.56 and a 1 year high of $178.16. The firm’s fifty day moving average price is $153.61 and its two-hundred day moving average price is $128.96. The firm has a market capitalization of $73.62 billion, a P/E ratio of -393.87, a PEG ratio of 13.31 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.17. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The firm had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same period in the previous year, the business earned ($0.19) EPS. The company’s revenue was up 25.0% compared to the same quarter last year. As a group, equities research analysts forecast that DoorDash, Inc. will post 0.26 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.