Quinn Opportunity Partners LLC Reduces Holdings in DoorDash, Inc. $DASH

Quinn Opportunity Partners LLC cut its holdings in DoorDash, Inc. (NASDAQ:DASH) by 46.5% during the 2nd quarter, Holdings Channel reports. The firm owned 80,899 shares of the company’s stock after selling 70,234 shares during the period. DoorDash comprises approximately 1.7% of Quinn Opportunity Partners LLC’s investment portfolio, making the stock its 11th biggest holding. Quinn Opportunity Partners LLC’s holdings in DoorDash were worth $19,942,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Transactions at DoorDash

In other DoorDash news, Director Andy Fang sold 30,000 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $243.32, for a total transaction of $7,299,600.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Tony Xu sold 291,403 shares of the firm’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $238.19, for a total value of $69,409,280.57. Following the transaction, the chief executive officer owned 229,047 shares in the company, valued at $54,556,704.93. This trade represents a 55.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 825,277 shares of company stock valued at $205,015,591 over the last ninety days. 5.83% of the stock is currently owned by company insiders.

DoorDash Trading Down 1.7%

NASDAQ:DASH opened at $200.63 on Wednesday. DoorDash, Inc. has a one year low of $155.40 and a one year high of $285.50. The business’s 50-day simple moving average is $257.06 and its 200 day simple moving average is $238.27. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.04 and a current ratio of 2.04. The stock has a market cap of $85.71 billion, a price-to-earnings ratio of 101.84 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, November 5th. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.13). DoorDash had a net margin of 6.83% and a return on equity of 9.97%. The business had revenue of $3.45 billion during the quarter, compared to analyst estimates of $3.35 billion. During the same period in the previous year, the company earned $0.38 earnings per share. The business’s revenue for the quarter was up 27.3% on a year-over-year basis. As a group, sell-side analysts predict that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on DASH shares. Mizuho set a $350.00 price target on DoorDash and gave the stock an “outperform” rating in a research note on Monday, September 29th. Piper Sandler lifted their price target on DoorDash from $210.00 to $290.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of DoorDash in a research note on Wednesday, October 8th. UBS Group decreased their target price on shares of DoorDash from $316.00 to $241.00 and set a “neutral” rating on the stock in a research report on Thursday, November 6th. Finally, Citigroup reaffirmed an “outperform” rating on shares of DoorDash in a research report on Thursday, August 7th. Three analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $280.62.

DoorDash Company Profile

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.