Mediolanum International Funds Ltd Reduces Position in DoorDash, Inc. $DASH

Mediolanum International Funds Ltd decreased its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 74.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,684 shares of the company’s stock after selling 96,435 shares during the quarter. Mediolanum International Funds Ltd’s holdings in DoorDash were worth $4,838,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. Eastern Bank lifted its stake in shares of DoorDash by 714.3% during the fourth quarter. Eastern Bank now owns 114 shares of the company’s stock worth $26,000 after buying an additional 100 shares during the period. MV Capital Management Inc. purchased a new stake in shares of DoorDash during the fourth quarter valued at $26,000. Swiss RE Ltd. acquired a new position in shares of DoorDash in the 4th quarter valued at $28,000. ST Germain D J Co. Inc. acquired a new position in shares of DoorDash in the 4th quarter valued at $29,000. Finally, Kemnay Advisory Services Inc. purchased a new position in DoorDash in the 4th quarter worth $32,000. Institutional investors and hedge funds own 90.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Wedbush started coverage on DoorDash in a research report on Thursday, July 16th. They set a “neutral” rating and a $205.00 price target for the company. TD Cowen reaffirmed a “buy” rating on shares of DoorDash in a report on Wednesday, July 15th. BTIG Research dropped their target price on DoorDash from $280.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, June 12th. Citigroup reiterated a “market outperform” rating on shares of DoorDash in a report on Monday, June 22nd. Finally, Susquehanna reduced their price target on shares of DoorDash from $250.00 to $225.00 and set a “positive” rating for the company in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $252.89.

Insiders Place Their Bets

In other news, General Counsel Tia Sherringham sold 2,743 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $160.79, for a total transaction of $441,046.97. Following the sale, the general counsel directly owned 128,216 shares in the company, valued at $20,615,850.64. This trade represents a 2.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ravi Inukonda sold 19,095 shares of DoorDash stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $188.04, for a total value of $3,590,623.80. Following the completion of the transaction, the chief financial officer owned 252,443 shares of the company’s stock, valued at approximately $47,469,381.72. This represents a 7.03% decrease in their position. 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 74,927 shares of company stock valued at $13,241,532. Insiders own 5.83% of the company’s stock.

DoorDash Price Performance

Shares of NASDAQ DASH opened at $189.02 on Tuesday. 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 stock has a market capitalization of $82.36 billion, a price-to-earnings ratio of 90.01 and a beta of 1.78. The firm’s 50 day simple moving average is $170.39 and its 200-day simple moving average is $177.02. DoorDash, Inc. has a 12 month low of $143.30 and a 12 month high of $285.50.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. The firm had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $4.15 billion. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The firm’s quarterly revenue was up 33.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.44 earnings per share. Analysts expect that DoorDash, Inc. will post 2.39 EPS for the current year.

About DoorDash

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.