American Century Companies Inc. Reduces Position in DoorDash, Inc. (NASDAQ:DASH)

American Century Companies Inc. reduced its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 29.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 719,478 shares of the company’s stock after selling 306,869 shares during the period. American Century Companies Inc.’s holdings in DoorDash were worth $78,265,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Headlands Technologies LLC acquired a new stake in DoorDash in the second quarter valued at $32,000. Andra AP fonden increased its holdings in shares of DoorDash by 140.5% in the 2nd quarter. Andra AP fonden now owns 158,700 shares of the company’s stock valued at $17,263,000 after acquiring an additional 92,700 shares during the last quarter. Royal London Asset Management Ltd. increased its holdings in shares of DoorDash by 12.1% in the 2nd quarter. Royal London Asset Management Ltd. now owns 134,882 shares of the company’s stock valued at $14,672,000 after acquiring an additional 14,512 shares during the last quarter. Choreo LLC acquired a new stake in shares of DoorDash during the 2nd quarter worth about $465,000. Finally, Prudential PLC lifted its stake in DoorDash by 91.4% during the second quarter. Prudential PLC now owns 5,148 shares of the company’s stock worth $560,000 after purchasing an additional 2,459 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Tony Xu sold 54,166 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $104.96, for a total transaction of $5,685,263.36. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CEO Tony Xu sold 54,166 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $104.96, for a total value of $5,685,263.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ravi Inukonda sold 7,000 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $109.30, for a total transaction of $765,100.00. Following the completion of the sale, the chief financial officer now owns 424,223 shares in the company, valued at $46,367,573.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 254,769 shares of company stock worth $28,250,113. 7.92% of the stock is owned by company insiders.

DoorDash Price Performance

DoorDash stock opened at $131.35 on Friday. The stock’s 50 day moving average price is $118.66 and its 200 day moving average price is $121.29. The company has a market cap of $54.06 billion, a PE ratio of -121.62, a price-to-earnings-growth ratio of 275.59 and a beta of 1.69. DoorDash, Inc. has a 1-year low of $69.90 and a 1-year high of $143.34.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.29). DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. The company had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same period last year, the company earned ($0.44) earnings per share. The business’s revenue for the quarter was up 23.3% compared to the same quarter last year. On average, equities research analysts anticipate that DoorDash, Inc. will post 0.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on DASH. Wells Fargo & Company raised their price objective on shares of DoorDash from $125.00 to $127.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Needham & Company LLC lifted their price target on shares of DoorDash from $137.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. DA Davidson upped their price objective on shares of DoorDash from $110.00 to $119.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. KeyCorp assumed coverage on DoorDash in a research report on Thursday, July 11th. They set a “sector weight” rating on the stock. Finally, Benchmark reissued a “buy” rating and issued a $150.00 target price on shares of DoorDash in a research report on Tuesday, July 30th. Eleven research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $142.57.

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.