DoorDash, Inc. $DASH Shares Sold by Cullinan Associates Inc.

Cullinan Associates Inc. lessened its position in DoorDash, Inc. (NASDAQ:DASH) by 52.3% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,825 shares of the company’s stock after selling 2,000 shares during the quarter. Cullinan Associates Inc.’s holdings in DoorDash were worth $450,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Saudi Central Bank purchased a new stake in shares of DoorDash in the 1st quarter valued at approximately $25,000. WPG Advisers LLC purchased a new stake in shares of DoorDash in the 1st quarter valued at approximately $26,000. Pacific Center for Financial Services purchased a new stake in shares of DoorDash in the 1st quarter valued at approximately $27,000. Harbour Investments Inc. lifted its position in shares of DoorDash by 55.6% in the 1st quarter. Harbour Investments Inc. now owns 196 shares of the company’s stock valued at $36,000 after acquiring an additional 70 shares in the last quarter. Finally, SouthState Corp lifted its position in shares of DoorDash by 762.5% in the 1st quarter. SouthState Corp now owns 207 shares of the company’s stock valued at $38,000 after acquiring an additional 183 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

DoorDash Stock Up 0.4%

DASH stock opened at $271.22 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.07 and a quick ratio of 2.07. DoorDash, Inc. has a 52-week low of $141.26 and a 52-week high of $278.15. The company has a 50-day moving average of $255.52 and a two-hundred day moving average of $224.37. The stock has a market capitalization of $115.87 billion, a price-to-earnings ratio of 150.68 and a beta of 1.71.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.23. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.16 billion. During the same period in the prior year, the company earned ($0.38) earnings per share. The business’s quarterly revenue was up 24.9% compared to the same quarter last year. As a group, equities research analysts anticipate that DoorDash, Inc. will post 2.22 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Wall Street Zen upgraded shares of DoorDash from a “hold” rating to a “buy” rating in a research report on Friday. DA Davidson increased their target price on shares of DoorDash from $190.00 to $260.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 10th. Truist Financial lifted their target price on shares of DoorDash from $272.00 to $326.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Raymond James Financial reissued a “strong-buy” rating and set a $325.00 target price (up previously from $275.00) on shares of DoorDash in a research note on Thursday, August 7th. Finally, Benchmark lifted their target price on shares of DoorDash from $260.00 to $315.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and fourteen have given a Hold rating to the stock. According to data from MarketBeat.com, DoorDash has a consensus rating of “Moderate Buy” and an average price target of $275.27.

Insider Activity at DoorDash

In related news, COO Prabir Adarkar sold 41,881 shares of the business’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $245.82, for a total transaction of $10,295,187.42. Following the transaction, the chief operating officer directly owned 914,547 shares in the company, valued at $224,813,943.54. The trade was a 4.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Stanley Tang sold 45,410 shares of the firm’s stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $247.11, for a total value of $11,221,265.10. Following the completion of the sale, the director owned 26,070 shares of the company’s stock, valued at $6,442,157.70. This represents a 63.53% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,001,417 shares of company stock worth $249,569,754. 5.83% of the stock is 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.