DoorDash, Inc. $DASH Shares Sold by Capital Research Global Investors

Capital Research Global Investors trimmed its holdings in DoorDash, Inc. (NASDAQ:DASH) by 2.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,796,371 shares of the company’s stock after selling 73,913 shares during the period. Capital Research Global Investors’ holdings in DoorDash were worth $633,348,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of DoorDash during the 4th quarter worth about $1,093,650,000. Vanguard Group Inc. boosted its stake in shares of DoorDash by 3.7% during the 3rd quarter. Vanguard Group Inc. now owns 42,712,908 shares of the company’s stock worth $11,617,484,000 after purchasing an additional 1,522,823 shares during the last quarter. Scge Management L.P. acquired a new stake in shares of DoorDash during the 2nd quarter worth about $267,463,000. Invesco Ltd. boosted its stake in shares of DoorDash by 18.2% during the 3rd quarter. Invesco Ltd. now owns 6,355,628 shares of the company’s stock worth $1,728,667,000 after purchasing an additional 980,148 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of DoorDash by 6.3% during the 3rd quarter. State Street Corp now owns 15,296,624 shares of the company’s stock worth $4,160,529,000 after purchasing an additional 909,125 shares during the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity at DoorDash

In other news, COO Prabir Adarkar sold 21,739 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $155.25, for a total transaction of $3,374,979.75. Following the transaction, the chief operating officer directly owned 959,076 shares in the company, valued at $148,896,549. This represents a 2.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stanley Tang sold 21,433 shares of the stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $150.00, for a total transaction of $3,214,950.00. Following the transaction, the director owned 19,279 shares in the company, valued at approximately $2,891,850. The trade was a 52.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 68,558 shares of company stock valued at $10,914,640. Insiders own 5.83% of the company’s stock.

DoorDash Stock Performance

Shares of DASH stock opened at $156.80 on Monday. The firm has a market cap of $68.32 billion, a P/E ratio of 74.67 and a beta of 1.83. DoorDash, Inc. has a 1-year low of $143.30 and a 1-year high of $285.50. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.43 and a quick ratio of 1.43. The firm’s 50-day simple moving average is $162.40 and its 200-day simple moving average is $185.67.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.06. The business had revenue of $4.04 billion for the quarter, compared to analyst estimates of $4.15 billion. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The company’s revenue was up 33.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.44 EPS. As a group, equities analysts forecast that DoorDash, Inc. will post 2.45 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on DASH shares. Oppenheimer decreased their price target on shares of DoorDash from $280.00 to $235.00 and set an “outperform” rating on the stock in a research note on Thursday, February 19th. Piper Sandler decreased their price target on shares of DoorDash from $220.00 to $205.00 and set a “neutral” rating on the stock in a research note on Thursday, May 7th. The Goldman Sachs Group set a $280.00 price target on shares of DoorDash in a research note on Thursday, May 7th. Cantor Fitzgerald decreased their price target on shares of DoorDash from $285.00 to $230.00 and set an “overweight” rating on the stock in a research note on Thursday, February 19th. Finally, KeyCorp raised their price target on shares of DoorDash from $275.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, February 19th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, DoorDash currently has a consensus rating of “Moderate Buy” and a consensus target price of $259.58.

DoorDash Profile

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.