DoorDash, Inc. $DASH Position Cut by EFG Asset Management North America Corp.

EFG Asset Management North America Corp. lowered its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 13.7% in the 2nd quarter, Holdings Channel reports. The fund owned 14,204 shares of the company’s stock after selling 2,259 shares during the period. EFG Asset Management North America Corp.’s holdings in DoorDash were worth $3,501,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the company. First Horizon Advisors Inc. grew its position in DoorDash by 70.5% in the 2nd quarter. First Horizon Advisors Inc. now owns 844 shares of the company’s stock worth $208,000 after purchasing an additional 349 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of DoorDash by 99.6% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 330,484 shares of the company’s stock valued at $81,468,000 after buying an additional 164,934 shares during the last quarter. Crestwood Advisors Group LLC boosted its position in shares of DoorDash by 26.6% during the second quarter. Crestwood Advisors Group LLC now owns 1,421 shares of the company’s stock worth $350,000 after buying an additional 299 shares during the period. NewSquare Capital LLC grew its holdings in DoorDash by 610.3% in the 2nd quarter. NewSquare Capital LLC now owns 206 shares of the company’s stock worth $51,000 after buying an additional 177 shares in the last quarter. Finally, Huntington National Bank increased its position in DoorDash by 46.2% in the 2nd quarter. Huntington National Bank now owns 1,003 shares of the company’s stock valued at $247,000 after acquiring an additional 317 shares during the period. 90.64% of the stock is currently owned by institutional investors.

Insider Activity at DoorDash

In other news, Director Shona L. Brown sold 1,250 shares of the company’s stock in a transaction on Thursday, October 9th. The shares were sold at an average price of $277.47, for a total value of $346,837.50. Following the transaction, the director directly owned 37,252 shares of the company’s stock, valued at approximately $10,336,312.44. This represents a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Tony Xu sold 34,166 shares of the stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $268.24, for a total value of $9,164,687.84. Following the sale, the chief executive officer owned 520,450 shares of the company’s stock, valued at approximately $139,605,508. This represents a 6.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 852,704 shares of company stock worth $213,921,205. 5.83% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

DASH has been the subject of a number of analyst reports. Cantor Fitzgerald reiterated an “overweight” rating and set a $330.00 price target on shares of DoorDash in a research report on Wednesday, September 17th. Guggenheim raised shares of DoorDash to a “strong-buy” rating in a report on Wednesday, October 15th. Barclays initiated coverage on shares of DoorDash in a research note on Friday, October 24th. They set an “equal weight” rating and a $272.00 target price on the stock. Piper Sandler upped their price target on shares of DoorDash from $210.00 to $290.00 and gave the stock a “neutral” rating in a research note on Thursday, August 7th. Finally, Truist Financial raised their price objective on shares of DoorDash from $326.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, October 23rd. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, DoorDash currently has a consensus rating of “Moderate Buy” and an average price target of $292.03.

DoorDash Trading Down 0.9%

Shares of NASDAQ DASH opened at $239.93 on Wednesday. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.30. DoorDash, Inc. has a one year low of $155.40 and a one year high of $285.50. The business has a 50-day moving average price of $260.74 and a two-hundred day moving average price of $237.29. The firm has a market capitalization of $102.50 billion, a PE ratio of 133.30 and a beta of 1.70.

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

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.