Kane Investment Management Inc. Cuts Holdings in DoorDash, Inc. $DASH

Kane Investment Management Inc. lowered its holdings in DoorDash, Inc. (NASDAQ:DASH) by 86.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 931 shares of the company’s stock after selling 5,746 shares during the quarter. Kane Investment Management Inc.’s holdings in DoorDash were worth $230,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. Olympiad Research LP bought a new position in DoorDash during the 2nd quarter valued at about $252,000. Fiera Capital Corp purchased a new stake in DoorDash in the second quarter worth approximately $7,723,000. ABN Amro Investment Solutions bought a new stake in DoorDash in the 2nd quarter worth approximately $1,592,000. Candriam S.C.A. lifted its holdings in DoorDash by 0.3% in the second quarter. Candriam S.C.A. now owns 24,666 shares of the company’s stock valued at $6,081,000 after acquiring an additional 86 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey boosted its holdings in shares of DoorDash by 5.8% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 54,500 shares of the company’s stock worth $13,435,000 after buying an additional 2,997 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors.

DoorDash Trading Up 6.0%

DASH stock opened at $206.96 on Friday. The firm’s fifty day simple moving average is $254.14 and its two-hundred day simple moving average is $237.81. The stock has a market capitalization of $89.20 billion, a price-to-earnings ratio of 105.06 and a beta of 1.70. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.29. DoorDash, Inc. has a twelve month low of $155.40 and a twelve month high of $285.50.

DoorDash (NASDAQ:DASH) last released its earnings results on Wednesday, November 5th. The company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.13). The business had revenue of $3.45 billion during the quarter, compared to analysts’ expectations of $3.35 billion. DoorDash had a return on equity of 9.97% and a net margin of 6.83%.The business’s revenue for the quarter was up 27.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.38 EPS. As a group, analysts anticipate that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Insider Activity at DoorDash

In other news, Director Stanley Tang sold 45,410 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $243.31, for a total value of $11,048,707.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Tony Xu sold 291,403 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $238.19, for a total transaction of $69,409,280.57. Following the sale, the chief executive officer directly owned 229,047 shares in the company, valued at $54,556,704.93. The trade was a 55.99% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 791,110 shares of company stock worth $196,549,692. 5.83% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on DASH. Guggenheim upgraded shares of DoorDash to a “strong-buy” rating in a research note on Wednesday, October 15th. UBS Group reduced their price target on DoorDash from $316.00 to $241.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. Mizuho lowered their price objective on DoorDash from $350.00 to $320.00 and set an “outperform” rating on the stock in a research report on Wednesday. Stifel Nicolaus reduced their target price on shares of DoorDash from $255.00 to $253.00 and set a “hold” rating for the company in a report on Thursday, November 6th. Finally, Morgan Stanley upped their price target on shares of DoorDash from $300.00 to $330.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $279.00.

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.