GCQ FUNDS MANAGEMENT PTY Ltd Makes New Investment in DoorDash, Inc. $DASH

GCQ FUNDS MANAGEMENT PTY Ltd bought a new position in DoorDash, Inc. (NASDAQ:DASH) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 36,911 shares of the company’s stock, valued at approximately $6,811,000. DoorDash accounts for about 0.9% of GCQ FUNDS MANAGEMENT PTY Ltd’s investment portfolio, making the stock its 14th largest holding.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Heartland Bank & Trust Co bought a new stake in DoorDash during the 2nd quarter valued at about $254,000. Monetta Financial Services Inc. purchased a new stake in DoorDash in the 2nd quarter valued at about $1,015,000. Commerzbank Aktiengesellschaft FI bought a new position in DoorDash in the 2nd quarter worth about $443,000. Plato Investment Management Ltd bought a new position in DoorDash in the 2nd quarter worth about $1,024,000. Finally, Trust Asset Management LLC increased its position in shares of DoorDash by 7.8% during the second quarter. Trust Asset Management LLC now owns 4,070 shares of the company’s stock worth $751,000 after acquiring an additional 294 shares during the period. 90.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other DoorDash news, insider Keith Yandell sold 2,643 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $155.34, for a total transaction of $410,563.62. Following the completion of the sale, the insider owned 81,106 shares in the company, valued at $12,599,006.04. This represents a 3.16% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stanley Tang sold 67,693 shares of the stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $200.63, for a total value of $13,581,246.59. Following the sale, the director directly owned 40,218 shares in the company, valued at $8,068,937.34. This trade represents a 62.73% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 139,877 shares of company stock valued at $26,381,731 over the last ninety days. Company insiders own 5.28% of the company’s stock.

DoorDash Trading Up 0.5%

NASDAQ:DASH opened at $223.49 on Friday. The firm has a 50-day simple moving average of $192.75 and a 200-day simple moving average of $175.44. DoorDash, Inc. has a one year low of $143.30 and a one year high of $285.50. The firm has a market cap of $96.84 billion, a P/E ratio of 117.01 and a beta of 1.78. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.37 and a current ratio of 1.37.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.01). The business had revenue of $4.45 billion for the quarter, compared to the consensus estimate of $4.34 billion. DoorDash had a net margin of 5.29% and a return on equity of 8.48%. DoorDash’s revenue for the quarter was up 35.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.65 earnings per share. Equities analysts anticipate that DoorDash, Inc. will post 2.46 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

DASH has been the subject of several research analyst reports. Citigroup lifted their price target on shares of DoorDash from $250.00 to $255.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Wedbush increased their price objective on DoorDash from $205.00 to $220.00 and gave the stock a “neutral” rating in a research note on Thursday. Bank of America restated a “buy” rating on shares of DoorDash in a report on Thursday, August 6th. Roth Capital lifted their target price on DoorDash from $200.00 to $220.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. Finally, Rothschild & Co Redburn set a $350.00 target price on DoorDash in a report on Tuesday, May 12th. Twenty-three analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $254.53.

About DoorDash

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.