Polar Asset Management Partners Inc. Invests $3.02 Million in DoorDash, Inc. $DASH

Polar Asset Management Partners Inc. acquired a new position in shares of DoorDash, Inc. (NASDAQ:DASH) in the 1st quarter, HoldingsChannel reports. The institutional investor acquired 20,100 shares of the company’s stock, valued at approximately $3,018,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Eastern Bank boosted its position in DoorDash by 714.3% during the fourth quarter. Eastern Bank now owns 114 shares of the company’s stock valued at $26,000 after purchasing an additional 100 shares during the last quarter. MV Capital Management Inc. acquired a new position in DoorDash in the 4th quarter worth about $26,000. Swiss RE Ltd. acquired a new position in DoorDash in the 4th quarter worth about $28,000. ST Germain D J Co. Inc. purchased a new stake in shares of DoorDash during the 4th quarter worth about $29,000. Finally, Kemnay Advisory Services Inc. purchased a new stake in shares of DoorDash during the 4th quarter worth about $32,000. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, COO Prabir Adarkar sold 21,739 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $155.25, for a total value of $3,374,979.75. Following the sale, the chief operating officer directly owned 959,076 shares of the company’s stock, valued at approximately $148,896,549. This trade represents a 2.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Tia Sherringham sold 2,743 shares of DoorDash stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $160.79, for a total value of $441,046.97. Following the completion of the transaction, the general counsel owned 128,216 shares in the company, valued at $20,615,850.64. The trade was a 2.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 74,927 shares of company stock worth $13,241,532. Insiders own 5.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on DASH. Needham & Company LLC reiterated a “buy” rating and set a $265.00 price target on shares of DoorDash in a report on Thursday, May 7th. Truist Financial dropped their price objective on DoorDash from $340.00 to $330.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Wedbush assumed coverage on shares of DoorDash in a research report on Thursday, July 16th. They set a “neutral” rating and a $205.00 price objective on the stock. Citigroup reiterated a “market outperform” rating on shares of DoorDash in a research note on Monday, June 22nd. Finally, DA Davidson decreased their target price on shares of DoorDash from $224.00 to $200.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $252.89.

DoorDash Trading Up 6.6%

NASDAQ:DASH opened at $184.37 on Tuesday. DoorDash, Inc. has a 12 month low of $143.30 and a 12 month high of $285.50. The firm has a market cap of $80.33 billion, a price-to-earnings ratio of 87.80 and a beta of 1.78. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.27. The company’s 50 day moving average is $172.65 and its 200-day moving average is $175.36.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. The business had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $4.15 billion. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. DoorDash’s revenue for the quarter was up 33.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.44 earnings per share. Equities analysts anticipate that DoorDash, Inc. will post 2.39 EPS for the current year.

About DoorDash

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.