Point72 Hong Kong Ltd boosted its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 224.8% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,084 shares of the company's stock after buying an additional 16,668 shares during the quarter. Point72 Hong Kong Ltd's holdings in DoorDash were worth $2,620,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Brighton Jones LLC lifted its position in DoorDash by 0.8% in 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 in the last quarter. Everhart Financial Group Inc. increased its stake in shares of DoorDash by 3.1% during the 2nd quarter. Everhart Financial Group Inc. now owns 3,267 shares of the company's stock worth $355,000 after purchasing an additional 99 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of DoorDash by 17.2% during the 1st quarter. GAMMA Investing LLC now owns 736 shares of the company's stock worth $101,000 after purchasing an additional 108 shares during the last quarter. E Fund Management Co. Ltd. increased its stake in shares of DoorDash by 3.5% during the 2nd quarter. E Fund Management Co. Ltd. now owns 3,263 shares of the company's stock worth $355,000 after purchasing an additional 111 shares during the last quarter. Finally, SJS Investment Consulting Inc. increased its stake in shares of DoorDash by 21.0% during 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 last quarter. Hedge funds and other institutional investors own 90.64% of the company's stock.
Shares of DoorDash stock opened at $143.93 on Thursday. The firm has a market cap of $59.23 billion, a P/E ratio of -133.27, a price-to-earnings-growth ratio of 295.70 and a beta of 1.69. The firm's 50-day simple moving average is $123.53 and its 200-day simple moving average is $121.71. DoorDash, Inc. has a twelve month low of $69.90 and a twelve month high of $146.36.
DoorDash (NASDAQ:DASH - Get Free Report) 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 5.91%. The company had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same period in the previous year, the firm posted ($0.44) earnings per share. The firm's revenue for the quarter was up 23.3% compared to the same quarter last year. On average, equities analysts forecast that DoorDash, Inc. will post 0.01 earnings per share for the current fiscal year.
In other DoorDash news, Director Andy Fang sold 50,000 shares of the company's stock in a transaction on Thursday, July 11th. The stock was 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other DoorDash news, Director Andy Fang sold 50,000 shares of the business's 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 transaction, the director now directly owns 19,982 shares in the company, valued at $2,109,499.74. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, 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 transaction of $5,685,263.36. The disclosure for this sale can be found here. Insiders have sold a total of 357,223 shares of company stock valued at $42,156,623 in the last 90 days. 7.92% of the stock is owned by corporate insiders.
DASH has been the topic of several analyst reports. UBS Group increased their price target on shares of DoorDash from $125.00 to $143.00 and gave the stock a "neutral" rating in a research note on Friday, August 2nd. BMO Capital Markets increased their price target on shares of DoorDash from $127.00 to $140.00 and gave the stock an "outperform" rating in a research note on Friday, August 2nd. Keefe, Bruyette & Woods upgraded shares of DoorDash from a "market perform" rating to an "outperform" rating and set a $177.00 price target on the stock in a research note on Wednesday. Wolfe Research initiated coverage on shares of DoorDash in a research note on Tuesday, July 16th. They set an "outperform" rating and a $130.00 price target on the stock. Finally, Redburn Atlantic began coverage on shares of DoorDash in a research note on Friday, July 26th. They issued a "buy" rating and a $170.00 target price on the stock. Ten equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $145.50.
Read Our Latest Stock Report on DASH
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.
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