Amalgamated Bank Boosts Stock Position in DoorDash, Inc. (NYSE:DASH)

Posted by on Jun 6th, 2023

Amalgamated Bank raised its position in DoorDash, Inc. (NYSE:DASH – Get Rating) by 0.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,853 shares of the company’s stock after buying an additional 260 shares during the quarter. Amalgamated Bank’s holdings in DoorDash were worth $1,360,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Two Sigma Investments LP raised its stake in shares of DoorDash by 184.0% during the 3rd quarter. Two Sigma Investments LP now owns 870,033 shares of the company’s stock valued at $43,023,000 after purchasing an additional 563,688 shares during the period. Trexquant Investment LP raised its stake in shares of DoorDash by 68.8% during the 3rd quarter. Trexquant Investment LP now owns 40,322 shares of the company’s stock valued at $1,994,000 after purchasing an additional 16,434 shares during the period. Quantamental Technologies LLC bought a new stake in shares of DoorDash during the 3rd quarter valued at $375,000. Ethic Inc. grew its position in DoorDash by 53.3% during the third quarter. Ethic Inc. now owns 9,024 shares of the company’s stock worth $446,000 after buying an additional 3,138 shares in the last quarter. Finally, Verition Fund Management LLC grew its position in DoorDash by 179.7% during the third quarter. Verition Fund Management LLC now owns 22,274 shares of the company’s stock worth $1,101,000 after buying an additional 14,310 shares in the last quarter. 72.65% of the stock is currently owned by institutional investors.

DoorDash Price Performance

DASH opened at $69.35 on Tuesday. The business has a 50 day simple moving average of $63.45 and a two-hundred day simple moving average of $58.55. The firm has a market capitalization of $26.95 billion, a price-to-earnings ratio of -19.54 and a beta of 1.50. DoorDash, Inc. has a one year low of $41.37 and a one year high of $87.00.

DoorDash (NYSE:DASH – Get Rating) last announced its earnings results on Thursday, May 4th. The company reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.56) by $0.15. DoorDash had a negative return on equity of 14.00% and a negative net margin of 18.98%. The firm had revenue of $2.04 billion during the quarter, compared to analyst estimates of $1.92 billion. As a group, sell-side analysts expect that DoorDash, Inc. will post -1.74 EPS for the current fiscal year.

Insider Transactions at DoorDash

In other news, CEO Tony Xu sold 132,300 shares of the stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $53.07, for a total value of $7,021,161.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Andy Fang sold 67,000 shares of the firm’s stock in a transaction that occurred on Friday, April 21st. The stock was sold at an average price of $59.20, for a total transaction of $3,966,400.00. Following the completion of the transaction, the director now owns 54,015 shares of the company’s stock, valued at approximately $3,197,688. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Tony Xu sold 132,300 shares of the stock in a transaction on Monday, March 13th. The shares were sold at an average price of $53.07, for a total value of $7,021,161.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 972,440 shares of company stock valued at $59,502,139. Corporate insiders own 9.59% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on DASH. UBS Group boosted their target price on DoorDash from $68.00 to $70.00 in a research report on Friday, May 5th. Needham & Company LLC boosted their target price on DoorDash from $75.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, February 17th. Susquehanna boosted their target price on DoorDash from $75.00 to $85.00 and gave the stock a “positive” rating in a research report on Tuesday, February 21st. Wells Fargo & Company upped their price objective on DoorDash from $71.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, February 17th. Finally, Oppenheimer upped their price objective on DoorDash from $80.00 to $85.00 in a report on Friday, May 5th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, DoorDash has a consensus rating of “Hold” and an average target price of $76.74.

DoorDash Profile

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DoorDash, Inc operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash marketplace, which provides an array of services that enable merchants to solve mission-critical challenges, such as customer acquisition, delivery, insights and analytics, merchandising, payment processing, and customer support; and offers DoorDash Drive, a white-label logistics service; DoorDash Storefront that enables merchants to offer consumers on-demand access to e-commerce.

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Institutional Ownership by Quarter for DoorDash (NYSE:DASH)

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