Rhumbline Advisers Decreases Holdings in DoorDash, Inc. $DASH

Rhumbline Advisers cut its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 5.6% during the second quarter, HoldingsChannel.com reports. The fund owned 711,367 shares of the company’s stock after selling 41,888 shares during the period. Rhumbline Advisers’ holdings in DoorDash were worth $175,359,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of DASH. Gilbert & Cook Inc. grew its position in DoorDash by 2.6% in the second quarter. Gilbert & Cook Inc. now owns 1,685 shares of the company’s stock worth $415,000 after acquiring an additional 42 shares during the period. Perigon Wealth Management LLC grew its holdings in shares of DoorDash by 1.3% in the second quarter. Perigon Wealth Management LLC now owns 3,701 shares of the company’s stock valued at $912,000 after purchasing an additional 46 shares in the last quarter. Advisory Resource Group increased its holdings in DoorDash by 0.8% during the 2nd quarter. Advisory Resource Group now owns 5,774 shares of the company’s stock worth $1,423,000 after purchasing an additional 48 shares during the period. Yeomans Consulting Group Inc. raised its holdings in shares of DoorDash by 3.9% in the 2nd quarter. Yeomans Consulting Group Inc. now owns 1,369 shares of the company’s stock valued at $326,000 after purchasing an additional 51 shares in the last quarter. Finally, Palo Alto Wealth Advisors LLC lifted its stake in DoorDash by 0.4% during the first quarter. Palo Alto Wealth Advisors LLC now owns 12,057 shares of the company’s stock worth $2,385,000 after purchasing an additional 54 shares during the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on DASH shares. Mizuho reduced their target price on shares of DoorDash from $350.00 to $320.00 and set an “outperform” rating for the company in a report on Wednesday, November 12th. Bank of America reduced their price target on shares of DoorDash from $325.00 to $305.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. Jefferies Financial Group upgraded shares of DoorDash from a “hold” rating to a “buy” rating in a report on Wednesday. The Goldman Sachs Group cut their target price on shares of DoorDash from $315.00 to $279.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Finally, Benchmark increased their target price on DoorDash from $315.00 to $320.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $275.62.

Insider Activity at DoorDash

In related 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Prabir Adarkar sold 41,881 shares of DoorDash stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $245.82, for a total transaction of $10,295,187.42. Following the transaction, the chief operating officer directly owned 914,547 shares in the company, valued at $224,813,943.54. The trade was a 4.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 499,707 shares of company stock worth $127,140,411 over the last ninety days. Corporate insiders own 5.83% of the company’s stock.

DoorDash Price Performance

NASDAQ:DASH opened at $189.63 on Friday. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.29. The firm has a market cap of $81.73 billion, a P/E ratio of 96.26 and a beta of 1.70. DoorDash, Inc. has a 52-week low of $155.40 and a 52-week high of $285.50. The business’s 50-day moving average price is $248.53 and its 200 day moving average price is $237.89.

DoorDash (NASDAQ:DASH) last released its earnings results on Wednesday, November 5th. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.13). The firm 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 was up 27.3% on a year-over-year basis. During the same period last year, the business earned $0.38 earnings per share. As a group, sell-side 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.