R Squared Ltd Buys New Shares in DoorDash, Inc. $DASH

R Squared Ltd bought a new stake in DoorDash, Inc. (NASDAQ:DASH) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 882 shares of the company’s stock, valued at approximately $217,000.

Other hedge funds have also recently made changes to their positions in the company. Saudi Central Bank acquired a new position in shares of DoorDash in the 1st quarter valued at $25,000. WPG Advisers LLC acquired a new stake in DoorDash during the 1st quarter worth about $26,000. Pacific Center for Financial Services acquired a new stake in DoorDash during the 1st quarter worth about $27,000. GFG Capital LLC acquired a new stake in DoorDash during the 2nd quarter worth about $30,000. Finally, Harbour Investments Inc. grew its position in DoorDash by 55.6% during the 1st quarter. Harbour Investments Inc. now owns 196 shares of the company’s stock worth $36,000 after purchasing an additional 70 shares during the period. 90.64% of the stock is owned by institutional investors and hedge funds.

DoorDash Trading Up 1.4%

Shares of DoorDash stock opened at $258.15 on Friday. The firm has a market capitalization of $110.28 billion, a PE ratio of 143.42 and a beta of 1.71. DoorDash, Inc. has a twelve month low of $152.26 and a twelve month high of $285.50. The firm’s 50-day moving average price is $259.75 and its 200 day moving average price is $233.03. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.30.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.23. The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.16 billion. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. DoorDash’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same period last year, the company posted ($0.38) EPS. On average, sell-side analysts predict that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Insider Buying and Selling at DoorDash

In other DoorDash news, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $275.74, for a total value of $13,787,000.00. Following the transaction, the director directly owned 22,545 shares of the company’s stock, valued at $6,216,558.30. This trade represents a 68.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Stanley Tang sold 45,410 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $247.11, for a total transaction of $11,221,265.10. Following the completion of the transaction, the director directly owned 26,070 shares in the company, valued at $6,442,157.70. This trade represents a 63.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 932,156 shares of company stock valued at $233,565,302. Company insiders own 5.83% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Citigroup reaffirmed an “outperform” rating on shares of DoorDash in a research report on Thursday, August 7th. Needham & Company LLC set a $300.00 price target on DoorDash and gave the stock a “buy” rating in a research report on Thursday, August 7th. Loop Capital reaffirmed a “buy” rating on shares of DoorDash in a research report on Tuesday, July 15th. Mizuho set a $350.00 price target on DoorDash and gave the stock an “outperform” rating in a research report on Monday, September 29th. Finally, Wall Street Zen upgraded DoorDash from a “hold” rating to a “buy” rating in a research report on Saturday, October 11th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat, DoorDash has a consensus rating of “Moderate Buy” and an average target price of $287.79.

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.