TenCore Partners LP Has $13.94 Million Position in DoorDash, Inc. (NASDAQ:DASH)

TenCore Partners LP trimmed its holdings in DoorDash, Inc. (NASDAQ:DASH) by 16.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 97,660 shares of the company’s stock after selling 18,875 shares during the quarter. DoorDash comprises about 6.6% of TenCore Partners LP’s portfolio, making the stock its 7th biggest holding. TenCore Partners LP’s holdings in DoorDash were worth $13,939,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Rakuten Securities Inc. grew its holdings in DoorDash by 302.3% in the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $25,000 after buying an additional 130 shares in the last quarter. Headlands Technologies LLC bought a new position in DoorDash during the 2nd quarter valued at $32,000. Meeder Asset Management Inc. boosted its stake in DoorDash by 82.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock valued at $32,000 after purchasing an additional 132 shares in the last quarter. Quest Partners LLC boosted its stake in DoorDash by 146.8% during the 2nd quarter. Quest Partners LLC now owns 343 shares of the company’s stock valued at $37,000 after purchasing an additional 204 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its stake in DoorDash by 141.1% during the 2nd quarter. First Horizon Advisors Inc. now owns 352 shares of the company’s stock valued at $38,000 after purchasing an additional 206 shares in the last quarter. 90.64% of the stock is owned by institutional investors.

DoorDash Trading Down 0.6 %

DASH opened at $175.89 on Friday. The stock has a market cap of $73.06 billion, a price-to-earnings ratio of -390.87, a PEG ratio of 13.54 and a beta of 1.70. DoorDash, Inc. has a 1 year low of $93.33 and a 1 year high of $181.30. The stock has a fifty day moving average price of $160.19 and a 200 day moving average price of $132.46.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.17. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The firm had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter last year, the firm earned ($0.19) earnings per share. The business’s revenue for the quarter was up 25.0% on a year-over-year basis. As a group, sell-side analysts forecast that DoorDash, Inc. will post 0.26 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Oppenheimer increased their price target on DoorDash from $145.00 to $160.00 and gave the company an “outperform” rating in a research note on Friday, September 27th. Barclays increased their price target on DoorDash from $120.00 to $163.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. BTIG Research raised DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 price target for the company in a research note on Thursday, September 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $160.00 price target on shares of DoorDash in a research note on Monday, October 7th. Finally, KeyCorp increased their price objective on DoorDash from $177.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Ten research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $166.06.

Insider Buying and Selling at DoorDash

In other DoorDash news, CEO Tony Xu sold 108,334 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $180.07, for a total transaction of $19,507,703.38. Following the transaction, the chief executive officer now directly owns 1,500 shares in the company, valued at $270,105. This trade represents a 98.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Ravi Inukonda sold 14,219 shares of DoorDash stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $169.98, for a total value of $2,416,945.62. Following the completion of the transaction, the chief financial officer now owns 380,993 shares in the company, valued at $64,761,190.14. The trade was a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 838,722 shares of company stock worth $136,732,309 over the last three months. Corporate insiders own 7.92% of the company’s stock.

DoorDash 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.