NBC Securities Inc. Cuts Stake in DoorDash, Inc. (NASDAQ:DASH)

NBC Securities Inc. lessened its holdings in DoorDash, Inc. (NASDAQ:DASH) by 2.2% during the third quarter, Holdings Channel.com reports. The firm owned 3,856 shares of the company’s stock after selling 86 shares during the quarter. NBC Securities Inc.’s holdings in DoorDash were worth $550,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in DASH. Meeder Asset Management Inc. increased its holdings in shares of DoorDash by 82.0% in the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after buying an additional 132 shares during the period. Headlands Technologies LLC purchased a new position in DoorDash in the 2nd quarter worth approximately $32,000. Versant Capital Management Inc lifted its position in DoorDash by 340.8% in the second quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock valued at $36,000 after purchasing an additional 259 shares during the last quarter. ORG Partners LLC boosted its stake in shares of DoorDash by 2,108.3% during the first quarter. ORG Partners LLC now owns 265 shares of the company’s stock valued at $37,000 after purchasing an additional 253 shares during the period. Finally, Quest Partners LLC grew its holdings in shares of DoorDash by 146.8% in the second quarter. Quest Partners LLC now owns 343 shares of the company’s stock worth $37,000 after purchasing an additional 204 shares during the last quarter. 90.64% of the stock is owned by institutional investors.

DoorDash Trading Up 1.0 %

Shares of DASH opened at $151.40 on Friday. The company has a market cap of $61.91 billion, a price-to-earnings ratio of -140.19, a P/E/G ratio of 425.82 and a beta of 1.70. The business’s fifty day simple moving average is $134.69 and its two-hundred day simple moving average is $122.97. DoorDash, Inc. has a 12 month low of $69.90 and a 12 month high of $152.11.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.29). DoorDash had a negative net margin of 4.24% and a negative return on equity of 5.91%. The business had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.54 billion. During the same period last year, the business earned ($0.44) earnings per share. The company’s quarterly revenue was up 23.3% on a year-over-year basis. As a group, research analysts forecast that DoorDash, Inc. will post 0.01 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on DASH. Evercore ISI upped their price target on shares of DoorDash from $145.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Wedbush reiterated a “neutral” rating and set a $115.00 target price on shares of DoorDash in a report on Friday, August 2nd. BMO Capital Markets raised their target price on DoorDash from $127.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Argus began coverage on DoorDash in a research report on Tuesday, July 23rd. They set a “hold” rating for the company. Finally, Truist Financial lifted their price objective on DoorDash from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Ten investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $147.63.

Insider Transactions at DoorDash

In related news, Director Andy Fang sold 50,000 shares of the stock in a transaction that occurred 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 transaction, the director now owns 18,089 shares in the company, valued at $2,355,187.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Prabir Adarkar sold 32,124 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $147.99, for a total transaction of $4,754,030.76. Following the completion of the sale, the chief operating officer now directly owns 963,094 shares in the company, valued at approximately $142,528,281.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 in the company, valued at $2,355,187.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 390,710 shares of company stock worth $54,472,120 over the last three months. 7.92% of the stock is currently owned by company insiders.

DoorDash Company 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.