Krane Funds Advisors LLC Acquires New Position in DoorDash, Inc. $DASH

Krane Funds Advisors LLC bought a new position in shares of DoorDash, Inc. (NASDAQ:DASH) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 6,100 shares of the company’s stock, valued at approximately $1,382,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Keel Point LLC grew its stake in shares of DoorDash by 4.3% in the third quarter. Keel Point LLC now owns 1,393 shares of the company’s stock worth $379,000 after acquiring an additional 58 shares in the last quarter. Petra Financial Advisors Inc. raised its stake in shares of DoorDash by 2.2% in the third quarter. Petra Financial Advisors Inc. now owns 2,764 shares of the company’s stock valued at $752,000 after acquiring an additional 59 shares in the last quarter. CYBER HORNET ETFs LLC boosted its holdings in DoorDash by 6.5% in the fourth quarter. CYBER HORNET ETFs LLC now owns 979 shares of the company’s stock valued at $222,000 after purchasing an additional 60 shares during the period. Cary Street Partners Investment Advisory LLC grew its stake in DoorDash by 8.1% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 843 shares of the company’s stock worth $229,000 after purchasing an additional 63 shares in the last quarter. Finally, Vise Technologies Inc. increased its holdings in DoorDash by 1.8% during the 4th quarter. Vise Technologies Inc. now owns 3,517 shares of the company’s stock worth $796,000 after purchasing an additional 63 shares during the period. Hedge funds and other institutional investors own 90.64% of the company’s stock.

DoorDash Price Performance

Shares of NASDAQ DASH opened at $156.80 on Monday. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.27. The stock has a market cap of $68.32 billion, a P/E ratio of 74.67 and a beta of 1.83. The stock has a 50 day moving average of $162.40 and a two-hundred day moving average of $185.67. DoorDash, Inc. has a twelve month low of $143.30 and a twelve month high of $285.50.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. The business had revenue of $4.04 billion for 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%. The company’s quarterly revenue was up 33.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.44 EPS. On average, research analysts forecast that DoorDash, Inc. will post 2.45 earnings per share for the current year.

Insider Buying and Selling at DoorDash

In related news, Director Stanley Tang sold 21,433 shares of the business’s stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $150.00, for a total value of $3,214,950.00. Following the transaction, the director owned 19,279 shares in the company, valued at $2,891,850. The trade was a 52.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Tia Sherringham sold 2,743 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $160.79, for a total value of $441,046.97. Following the sale, the general counsel directly owned 128,216 shares of the company’s stock, valued at approximately $20,615,850.64. This represents a 2.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 68,558 shares of company stock valued at $10,914,640 over the last ninety days. 5.83% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on DASH. Sanford C. Bernstein decreased their price objective on DoorDash from $285.00 to $270.00 and set an “outperform” rating for the company in a research note on Thursday, February 19th. Zacks Research upgraded shares of DoorDash from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 12th. Barclays lowered their price target on shares of DoorDash from $238.00 to $220.00 and set an “equal weight” rating for the company in a report on Thursday, February 19th. Piper Sandler decreased their price objective on shares of DoorDash from $220.00 to $205.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $265.00 target price on shares of DoorDash in a report on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $259.58.

DoorDash Profile

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.