DoorDash, Inc. (NASDAQ:DASH) Stake Reduced by Intech Investment Management LLC

Intech Investment Management LLC trimmed its stake in DoorDash, Inc. (NASDAQ:DASH) by 14.6% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 14,872 shares of the company’s stock after selling 2,542 shares during the quarter. Intech Investment Management LLC’s holdings in DoorDash were worth $2,123,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Rakuten Securities Inc. increased its holdings in shares of DoorDash by 302.3% in the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $25,000 after acquiring an additional 130 shares during the period. Headlands Technologies LLC acquired a new stake in shares of DoorDash in the second quarter valued at approximately $32,000. Meeder Asset Management Inc. raised its holdings in shares of DoorDash by 82.0% during the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock valued at $32,000 after buying an additional 132 shares during the last quarter. Versant Capital Management Inc boosted its position in shares of DoorDash by 340.8% during the second quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock worth $36,000 after buying an additional 259 shares during the period. Finally, Quest Partners LLC grew its holdings in DoorDash by 146.8% in the 2nd quarter. Quest Partners LLC now owns 343 shares of the company’s stock worth $37,000 after buying an additional 204 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

Analysts Set New Price Targets

DASH has been the topic of several recent analyst reports. Barclays lifted their target price on DoorDash from $120.00 to $163.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. DA Davidson lifted their price objective on shares of DoorDash from $119.00 to $150.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Mizuho increased their target price on shares of DoorDash from $162.00 to $173.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Evercore ISI boosted their price target on shares of DoorDash from $155.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Finally, Oppenheimer upped their price target on shares of DoorDash from $145.00 to $160.00 and gave the stock an “outperform” rating in a research note on Friday, September 27th. Ten research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $164.03.

Insider Activity

In related news, CEO Tony Xu sold 108,332 shares of DoorDash stock in a transaction on Friday, November 15th. The stock was sold at an average price of $170.25, for a total transaction of $18,443,523.00. Following the completion of the sale, the chief executive officer now owns 1,500 shares of the company’s stock, valued at approximately $255,375. This trade represents a 98.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ravi Inukonda sold 7,000 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $127.86, for a total value of $895,020.00. Following the completion of the transaction, the chief financial officer now directly owns 396,152 shares in the company, valued at approximately $50,651,994.72. The trade was a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 547,753 shares of company stock worth $84,544,996 in the last 90 days. Company insiders own 7.92% of the company’s stock.

DoorDash Stock Up 2.4 %

Shares of NASDAQ:DASH opened at $177.24 on Monday. The company has a market cap of $73.62 billion, a P/E ratio of -393.87, a price-to-earnings-growth ratio of 13.31 and a beta of 1.67. The company’s fifty day moving average is $153.61 and its two-hundred day moving average is $129.08. DoorDash, Inc. has a 12-month low of $92.56 and a 12-month high of $178.16.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.17. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The firm had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same period in the previous year, the firm earned ($0.19) earnings per share. DoorDash’s quarterly revenue was up 25.0% on a year-over-year basis. Equities research analysts anticipate that DoorDash, Inc. will post 0.26 earnings per share for the current year.

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.