Renaissance Technologies LLC Has $214.17 Million Stock Holdings in DoorDash, Inc. $DASH

Renaissance Technologies LLC grew its position in DoorDash, Inc. (NASDAQ:DASH) by 7.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,426,355 shares of the company’s stock after purchasing an additional 103,520 shares during the quarter. Renaissance Technologies LLC owned approximately 0.33% of DoorDash worth $214,167,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. CYBER HORNET ETFs LLC grew its stake in DoorDash by 6.5% in the 4th quarter. CYBER HORNET ETFs LLC now owns 979 shares of the company’s stock valued at $222,000 after buying an additional 60 shares during the last quarter. Vise Technologies Inc. raised its holdings in DoorDash by 1.8% in the 4th quarter. Vise Technologies Inc. now owns 3,517 shares of the company’s stock worth $796,000 after acquiring an additional 63 shares during the period. Sunbelt Securities Inc. lifted its position in DoorDash by 124.1% during the 3rd quarter. Sunbelt Securities Inc. now owns 121 shares of the company’s stock worth $33,000 after acquiring an additional 67 shares during the last quarter. AXS Investments LLC lifted its position in DoorDash by 1.3% during the 4th quarter. AXS Investments LLC now owns 5,438 shares of the company’s stock worth $1,232,000 after acquiring an additional 69 shares during the last quarter. Finally, Mutual Advisors LLC boosted its holdings in DoorDash by 3.1% during the fourth quarter. Mutual Advisors LLC now owns 2,371 shares of the company’s stock valued at $537,000 after acquiring an additional 71 shares during the period. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at DoorDash

In related news, Director Andy Fang sold 5,000 shares of the company’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $180.00, for a total value of $900,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ravi Inukonda sold 19,095 shares of the firm’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $188.04, for a total value of $3,590,623.80. Following the completion of the transaction, the chief financial officer directly owned 252,443 shares of the company’s stock, valued at approximately $47,469,381.72. This trade represents a 7.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 74,927 shares of company stock worth $13,241,532 in the last three months. Company insiders own 5.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on DASH shares. UBS Group raised their price target on DoorDash from $206.00 to $214.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. The Goldman Sachs Group set a $280.00 price objective on DoorDash in a research report on Thursday, May 7th. Zacks Research downgraded DoorDash from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. Susquehanna lowered their target price on DoorDash from $250.00 to $225.00 and set a “positive” rating on the stock in a report on Friday, May 8th. Finally, TD Cowen reaffirmed a “buy” rating on shares of DoorDash in a research report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $252.89.

DoorDash Stock Up 1.8%

Shares of DASH opened at $172.91 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.43 and a current ratio of 1.43. The company has a 50-day simple moving average of $172.22 and a 200-day simple moving average of $176.04. DoorDash, Inc. has a 52 week low of $143.30 and a 52 week high of $285.50. The firm has a market capitalization of $75.34 billion, a P/E ratio of 82.34 and a beta of 1.78.

DoorDash (NASDAQ:DASH) last released its earnings results 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. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The business had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $4.15 billion. During the same period last year, the business earned $0.44 earnings per share. The firm’s revenue for the quarter was up 33.1% compared to the same quarter last year. On average, equities research analysts expect that DoorDash, Inc. will post 2.39 earnings per share 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.