14,598 DoorDash, Inc. $DASH Shares Sold by Cornerstone Advisors LLC

Cornerstone Advisors LLC lessened its position in DoorDash, Inc. (NASDAQ:DASH) by 18.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,300 shares of the company’s stock after selling 14,598 shares during the period. Cornerstone Advisors LLC’s holdings in DoorDash were worth $11,986,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. City State Bank lifted its stake in DoorDash by 56.0% in the 3rd quarter. City State Bank now owns 156 shares of the company’s stock valued at $29,000 after purchasing an additional 56 shares during the last quarter. Washington Trust Advisors Inc. grew its holdings in DoorDash by 81.0% during the second quarter. Washington Trust Advisors Inc. now owns 143 shares of the company’s stock worth $26,000 after purchasing an additional 64 shares during the period. Premier Path Wealth Partners LLC increased its position in DoorDash by 2.7% during the second quarter. Premier Path Wealth Partners LLC now owns 2,520 shares of the company’s stock worth $465,000 after buying an additional 67 shares during the last quarter. Fairscale Capital LLC increased its position in DoorDash by 128.6% during the third quarter. Fairscale Capital LLC now owns 144 shares of the company’s stock worth $25,000 after buying an additional 81 shares during the last quarter. Finally, Raleigh Capital Management Inc. raised its stake in DoorDash by 3.0% in the third quarter. Raleigh Capital Management Inc. now owns 2,868 shares of the company’s stock valued at $526,000 after buying an additional 84 shares during the period. 90.64% of the stock is currently owned by institutional investors and hedge funds.

More DoorDash News

Investors following DASH have been watching these news items:

• Positive Sentiment: A gig-economy stock roundup included DASH among companies investors may want to watch, though it did not identify a new DoorDash-specific business development. Article: Must-Watch Gig Economy Stocks to Charge Up Your Portfolio
• Neutral Sentiment: Coverage reported that independent grocers support a potential DoorDash–Instacart merger. This reflects some industry backing, but the headline alone does not establish that a deal is planned or quantify its likelihood or impact. Article: Independent Grocers Support DoorDash-Instacart Merger
• Negative Sentiment: Amazon’s offer of free Uber Eats delivery to Prime members could intensify competition for DoorDash, potentially challenging order volume, customer retention, and the value of its DashPass membership. This competitive concern is cited in coverage of DASH’s recent weekly decline. Article: DoorDash Sinks 10% in a Week as Amazon Gives Prime Members Free Uber Eats Delivery

Wall Street Analysts Forecast Growth

DASH has been the subject of a number of recent analyst reports. Zacks Research raised DoorDash from a “strong sell” rating to a “hold” rating in a research report on Monday, August 17th. Bank of America reissued a “buy” rating on shares of DoorDash in a report on Friday, October 30th. Guggenheim restated a “buy” rating and issued a $255.00 price target on shares of DoorDash in a research note on Wednesday, October 14th. The Goldman Sachs Group dropped their price target on DoorDash from $280.00 to $275.00 in a research note on Thursday, August 6th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $240.00 price target on shares of DoorDash in a report on Friday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, DoorDash currently has a consensus rating of “Moderate Buy” and a consensus price target of $249.45.

Insider Activity at DoorDash

In related news, Director Stanley Tang sold 72,367 shares of the business’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $225.16, for a total value of $16,294,153.72. Following the completion of the sale, the director directly owned 10,361 shares in the company, valued at $2,332,882.76. The trade was a 87.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Prabir Adarkar sold 55,289 shares of the business’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $231.76, for a total value of $12,813,778.64. Following the completion of the sale, the chief operating officer owned 930,211 shares of the company’s stock, valued at $215,585,701.36. This trade represents a 5.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 349,430 shares of company stock valued at $76,644,002 in the last 90 days. Corporate insiders own 44.90% of the company’s stock.

DoorDash Stock Down 0.6%

Shares of DASH opened at $171.51 on Friday. The firm has a market cap of $74.77 billion, a P/E ratio of 70.87, a price-to-earnings-growth ratio of 1.43 and a beta of 1.98. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.46 and a current ratio of 1.46. DoorDash, Inc. has a 52 week low of $143.30 and a 52 week high of $239.00. The firm’s 50-day simple moving average is $188.16 and its 200 day simple moving average is $181.73.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data on Thursday, October 29th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.25. DoorDash had a net margin of 6.23% and a return on equity of 10.40%. The firm had revenue of $4.62 billion during the quarter, compared to the consensus estimate of $4.56 billion. During the same period last year, the business posted $0.55 earnings per share. The business’s revenue for the quarter was up 34.0% compared to the same quarter last year. On average, analysts forecast that DoorDash, Inc. will post 2.69 earnings per share for the current year.

About DoorDash

DoorDash, Inc. operates a local commerce platform that connects consumers with restaurants and other merchants, as well as with independent delivery workers. Through its app and website, customers can order restaurant meals, groceries, convenience items and products from other local retailers for delivery or pickup. The company also provides services for merchants, including tools for online ordering, marketing and fulfillment. Its offerings include DoorDash Drive, which provides delivery logistics for merchants’ own orders, and DashPass, a subscription program for eligible orders.