Verition Fund Management LLC Has $15.94 Million Stock Position in DoorDash, Inc. (NASDAQ:DASH)

Verition Fund Management LLC increased its stake in DoorDash, Inc. (NASDAQ:DASH) by 9.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 111,661 shares of the company’s stock after buying an additional 9,718 shares during the quarter. Verition Fund Management LLC’s holdings in DoorDash were worth $15,937,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Rakuten Securities Inc. grew its position in shares of DoorDash by 302.3% in the third quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock valued at $25,000 after purchasing an additional 130 shares during the last quarter. Meeder Asset Management Inc. grew its holdings in DoorDash by 82.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock valued at $32,000 after buying an additional 132 shares in the last quarter. Headlands Technologies LLC bought a new position in DoorDash during the 2nd quarter worth $32,000. Versant Capital Management Inc lifted its holdings in shares of DoorDash by 340.8% during the second quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock worth $36,000 after buying an additional 259 shares in the last quarter. Finally, Quest Partners LLC boosted its position in shares of DoorDash by 146.8% in the second quarter. Quest Partners LLC now owns 343 shares of the company’s stock valued at $37,000 after acquiring an additional 204 shares during the period. 90.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on DASH shares. Barclays increased their target price on shares of DoorDash from $120.00 to $163.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Bank of America raised their price objective on DoorDash from $168.00 to $172.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Roth Mkm upped their target price on DoorDash from $118.00 to $124.00 and gave the company a “neutral” rating in a research report on Monday, August 5th. Citigroup raised their price target on DoorDash from $155.00 to $211.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Wedbush reaffirmed a “neutral” rating and issued a $115.00 price target on shares of DoorDash in a research note on Friday, August 2nd. Ten investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat.com, DoorDash currently has a consensus rating of “Moderate Buy” and a consensus target price of $166.06.

Insider Buying and Selling at DoorDash

In related news, CFO Ravi Inukonda sold 14,219 shares of the stock in a transaction on 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 transaction, the chief financial officer now directly owns 380,993 shares in the company, valued at $64,761,190.14. This trade represents a 3.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Tony Xu sold 54,166 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $140.06, for a total transaction of $7,586,489.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 654,596 shares of company stock valued at $104,128,585. Corporate insiders own 7.92% of the company’s stock.

DoorDash Price Performance

NASDAQ DASH opened at $180.48 on Friday. The stock has a market capitalization of $74.97 billion, a P/E ratio of -401.07, a P/E/G ratio of 13.72 and a beta of 1.67. The business has a 50 day simple moving average of $157.29 and a 200 day simple moving average of $130.64. DoorDash, Inc. has a one year low of $92.58 and a one year high of $181.30.

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

About DoorDash

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.