DoorDash, Inc. (NASDAQ:DASH) Shares Sold by Fmr LLC

Fmr LLC lessened its stake in DoorDash, Inc. (NASDAQ:DASH) by 25.4% during the third quarter, HoldingsChannel.com reports. The firm owned 1,146,917 shares of the company’s stock after selling 390,114 shares during the period. Fmr LLC’s holdings in DoorDash were worth $163,700,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Baillie Gifford & Co. raised its stake in DoorDash by 13.2% during the third quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock valued at $2,018,584,000 after buying an additional 1,645,186 shares in the last quarter. Dragoneer Investment Group LLC raised its position in shares of DoorDash by 77.9% during the 2nd quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company’s stock valued at $309,755,000 after acquiring an additional 1,246,567 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in DoorDash by 216.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,082,362 shares of the company’s stock worth $154,486,000 after purchasing an additional 739,961 shares during the last quarter. Jupiter Asset Management Ltd. boosted its holdings in DoorDash by 3,284.7% in the second quarter. Jupiter Asset Management Ltd. now owns 729,779 shares of the company’s stock worth $79,385,000 after purchasing an additional 708,218 shares during the period. Finally, Thrivent Financial for Lutherans increased its stake in DoorDash by 5,396.1% during the third quarter. Thrivent Financial for Lutherans now owns 663,599 shares of the company’s stock valued at $94,716,000 after purchasing an additional 651,525 shares during the last quarter. Institutional investors own 90.64% of the company’s stock.

Analysts Set New Price Targets

DASH has been the subject of a number of recent research reports. Barclays boosted their price objective on shares of DoorDash from $120.00 to $163.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. BTIG Research upgraded DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 price target on the stock in a research report on Thursday, September 19th. Jefferies Financial Group upped their price target on shares of DoorDash from $155.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Raymond James assumed coverage on shares of DoorDash in a research note on Tuesday, September 24th. They set an “outperform” rating and a $155.00 target price for the company. Finally, UBS Group raised their price target on shares of DoorDash from $143.00 to $160.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Ten analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $166.06.

Insider Activity

In other DoorDash news, insider Keith Yandell sold 7,980 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $169.98, for a total transaction of $1,356,440.40. Following the completion of the sale, the insider now owns 124,221 shares of the company’s stock, valued at $21,115,085.58. This represents a 6.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction 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 sale, the director now directly owns 18,089 shares of the company’s stock, valued at approximately $2,355,187.80. This represents a 73.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 661,596 shares of company stock worth $105,386,905 in the last three months. 7.92% of the stock is owned by insiders.

DoorDash Price Performance

Shares of DASH opened at $176.09 on Wednesday. DoorDash, Inc. has a one year low of $93.33 and a one year high of $181.30. The stock has a market cap of $73.15 billion, a price-to-earnings ratio of -391.31, a PEG ratio of 13.56 and a beta of 1.70. The company has a 50-day moving average of $158.85 and a two-hundred day moving average of $131.73.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.21 by $0.17. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The business had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same period in the previous year, the company posted ($0.19) EPS. DoorDash’s revenue was up 25.0% on a year-over-year basis. Analysts anticipate 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.