Sands Capital Ventures LLC Sells 100,000 Shares of DoorDash, Inc. (NASDAQ:DASH)

Sands Capital Ventures LLC trimmed its holdings in DoorDash, Inc. (NASDAQ:DASH) by 19.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 423,091 shares of the company’s stock after selling 100,000 shares during the quarter. DoorDash comprises 15.4% of Sands Capital Ventures LLC’s portfolio, making the stock its 3rd largest holding. Sands Capital Ventures LLC’s holdings in DoorDash were worth $46,024,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Janus Henderson Group PLC boosted its holdings in shares of DoorDash by 11,416.7% in the first quarter. Janus Henderson Group PLC now owns 3,455,116 shares of the company’s stock valued at $475,837,000 after acquiring an additional 3,425,115 shares in the last quarter. Vanguard Group Inc. boosted its stake in DoorDash by 8.4% during the 4th quarter. Vanguard Group Inc. now owns 29,303,496 shares of the company’s stock valued at $2,897,823,000 after purchasing an additional 2,259,976 shares in the last quarter. First Trust Advisors LP increased its position in shares of DoorDash by 45.6% during the 4th quarter. First Trust Advisors LP now owns 3,079,083 shares of the company’s stock valued at $304,490,000 after purchasing an additional 964,860 shares during the period. 1832 Asset Management L.P. bought a new stake in shares of DoorDash in the 4th quarter worth $92,937,000. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of DoorDash by 595.2% in the first quarter. Canada Pension Plan Investment Board now owns 891,879 shares of the company’s stock valued at $122,830,000 after buying an additional 763,579 shares during the period. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Argus started coverage on shares of DoorDash in a research report on Tuesday, July 23rd. They issued a “hold” rating on the stock. Barclays increased their target price on shares of DoorDash from $113.00 to $120.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Oppenheimer upped their price target on DoorDash from $125.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Redburn Atlantic started coverage on DoorDash in a research note on Friday, July 26th. They set a “buy” rating and a $170.00 price objective for the company. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $125.00 target price (up from $115.00) on shares of DoorDash in a research report on Friday, August 2nd. Eleven research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, DoorDash currently has a consensus rating of “Moderate Buy” and an average price target of $143.00.

DoorDash Stock Up 1.8 %

DoorDash stock opened at $139.72 on Friday. The business has a 50 day moving average price of $120.68 and a two-hundred day moving average price of $121.53. DoorDash, Inc. has a 12 month low of $69.90 and a 12 month high of $143.34. The stock has a market cap of $57.13 billion, a price-to-earnings ratio of -129.37, a price-to-earnings-growth ratio of 275.59 and a beta of 1.69.

DoorDash (NASDAQ:DASH) last issued its earnings results on Thursday, August 1st. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.54 billion. The business’s revenue for the quarter was up 23.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.44) earnings per share. On average, analysts expect that DoorDash, Inc. will post 0.01 earnings per share for the current fiscal year.

Insider Transactions at DoorDash

In related news, insider Keith Yandell sold 6,554 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $107.75, for a total value of $706,193.50. Following the completion of the transaction, the insider now owns 155,097 shares of the company’s stock, valued at $16,711,701.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other DoorDash news, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $130.20, for a total value of $6,510,000.00. Following the transaction, the director now owns 18,089 shares of the company’s stock, valued at $2,355,187.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Keith Yandell sold 6,554 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $107.75, for a total value of $706,193.50. Following the sale, the insider now owns 155,097 shares in the company, valued at approximately $16,711,701.75. The disclosure for this sale can be found here. In the last three months, insiders sold 304,769 shares of company stock valued at $34,760,113. Company insiders own 7.92% of the company’s stock.

DoorDash 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.