Interchange Capital Partners LLC Sells 689 Shares of DoorDash, Inc. $DASH

Interchange Capital Partners LLC trimmed its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 36.7% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,190 shares of the company’s stock after selling 689 shares during the quarter. DoorDash accounts for about 0.3% of Interchange Capital Partners LLC’s holdings, making the stock its 29th largest holding. Interchange Capital Partners LLC’s holdings in DoorDash were worth $293,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of DASH. Vanguard Group Inc. grew its position in DoorDash by 25.8% during the first quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company’s stock valued at $7,200,642,000 after acquiring an additional 8,073,882 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of DoorDash by 442.5% in the 1st quarter. AQR Capital Management LLC now owns 1,836,122 shares of the company’s stock valued at $321,799,000 after purchasing an additional 1,497,636 shares in the last quarter. Invesco Ltd. grew its holdings in shares of DoorDash by 41.9% during the 1st quarter. Invesco Ltd. now owns 4,799,851 shares of the company’s stock valued at $877,269,000 after purchasing an additional 1,416,194 shares during the last quarter. Nuveen LLC purchased a new position in DoorDash in the 1st quarter worth $211,415,000. Finally, Deutsche Bank AG raised its position in DoorDash by 111.3% in the 1st quarter. Deutsche Bank AG now owns 2,009,699 shares of the company’s stock worth $367,313,000 after purchasing an additional 1,058,731 shares during the period. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Insider Activity at DoorDash

In other news, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $275.74, for a total value of $13,787,000.00. Following the completion of the sale, the director directly owned 22,545 shares of the company’s stock, valued at approximately $6,216,558.30. This trade represents a 68.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Tony Xu sold 291,403 shares of DoorDash stock in a transaction dated Wednesday, August 20th. The shares were 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 disclosure for this sale can be found here. Insiders have sold a total of 968,137 shares of company stock valued at $241,767,280 over the last quarter. Company insiders own 5.83% of the company’s stock.

DoorDash Trading Down 1.1%

NASDAQ DASH opened at $270.54 on Wednesday. The stock has a market cap of $115.57 billion, a P/E ratio of 150.30 and a beta of 1.71. DoorDash, Inc. has a fifty-two week low of $143.37 and a fifty-two week high of $285.08. The stock has a 50 day simple moving average of $259.03 and a two-hundred day simple moving average of $228.13. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.07 and a current ratio of 2.07.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.23. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter in the prior year, the company earned ($0.38) earnings per share. The firm’s revenue for the quarter was up 24.9% on a year-over-year basis. On average, analysts forecast that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Sanford C. Bernstein raised their price objective on DoorDash from $210.00 to $265.00 and gave the company an “outperform” rating in a research note on Monday, July 21st. Royal Bank Of Canada increased their target price on DoorDash from $230.00 to $300.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Susquehanna lifted their price target on DoorDash from $235.00 to $300.00 and gave the stock a “positive” rating in a research note on Monday, August 11th. Mizuho set a $350.00 price objective on DoorDash and gave the company an “outperform” rating in a research report on Monday, September 29th. Finally, DA Davidson raised their target price on shares of DoorDash from $190.00 to $260.00 and gave the stock a “neutral” rating in a report on Wednesday, September 10th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and thirteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, DoorDash has a consensus rating of “Moderate Buy” and a consensus price target of $281.29.

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.