Yong Rong HK Asset Management Ltd Makes New Investment in DoorDash, Inc. (NASDAQ:DASH)

Yong Rong HK Asset Management Ltd purchased a new stake in DoorDash, Inc. (NASDAQ:DASH) during the third quarter, according to its most recent filing with the SEC. The firm purchased 199,150 shares of the company’s stock, valued at approximately $28,425,000. DoorDash accounts for 8.2% of Yong Rong HK Asset Management Ltd’s portfolio, making the stock its 6th biggest holding.

A number of other institutional investors and hedge funds have also made changes to their positions in DASH. ORG Partners LLC raised its stake in shares of DoorDash by 2,108.3% during the 1st quarter. ORG Partners LLC now owns 265 shares of the company’s stock worth $37,000 after acquiring an additional 253 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of DoorDash during the second quarter worth $32,000. Meeder Asset Management Inc. increased its position in shares of DoorDash by 82.0% during the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after purchasing an additional 132 shares in the last quarter. Hollencrest Capital Management purchased a new stake in shares of DoorDash during the 1st quarter valued at $42,000. Finally, Versant Capital Management Inc boosted its position in shares of DoorDash by 340.8% in the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock worth $36,000 after purchasing an additional 259 shares in the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other DoorDash news, Director Andy Fang sold 50,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the completion of the transaction, the director now owns 18,089 shares of the company’s stock, valued at $2,355,187.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other DoorDash news, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the sale, the director now owns 18,089 shares of the company’s stock, valued at $2,355,187.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Shona L. Brown sold 5,005 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $120.00, for a total transaction of $600,600.00. Following the completion of the sale, the director now owns 65,186 shares of the company’s stock, valued at $7,822,320. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 383,710 shares of company stock valued at $53,725,640. 7.92% of the stock is owned by corporate insiders.

DoorDash Stock Down 0.7 %

Shares of DoorDash stock opened at $155.66 on Friday. The firm has a market cap of $64.06 billion, a PE ratio of -345.91, a P/E/G ratio of 331.02 and a beta of 1.70. DoorDash, Inc. has a twelve month low of $83.58 and a twelve month high of $165.07. The business has a 50-day moving average price of $140.40 and a 200 day moving average price of $124.21.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.17. DoorDash had a negative return on equity of 2.46% and a negative net margin of 1.69%. The business had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same period in the previous year, the business earned ($0.19) earnings per share. The business’s revenue was up 25.0% compared to the same quarter last year. On average, sell-side analysts expect that DoorDash, Inc. will post 0.01 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on DASH shares. Argus initiated coverage on DoorDash in a research report on Tuesday, July 23rd. They set a “hold” rating on the stock. BTIG Research upgraded shares of DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 price objective on the stock in a report on Thursday, September 19th. The Goldman Sachs Group lifted their target price on shares of DoorDash from $142.00 to $161.00 and gave the stock a “neutral” rating in a research note on Friday. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 price target on shares of DoorDash in a research note on Monday, October 7th. Finally, Wolfe Research assumed coverage on shares of DoorDash in a research note on Tuesday, July 16th. They set an “outperform” rating and a $130.00 price objective for the company. Ten research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $163.12.

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.