Penserra Capital Management LLC Decreases Stock Position in DoorDash, Inc. $DASH

Penserra Capital Management LLC trimmed its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 26.8% in the 2nd quarter, HoldingsChannel reports. The firm owned 21,686 shares of the company’s stock after selling 7,923 shares during the period. Penserra Capital Management LLC’s holdings in DoorDash were worth $5,343,000 as of its most recent SEC filing.

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

Insider Activity

In other news, Director Shona L. Brown sold 1,250 shares of the stock in a transaction dated Thursday, October 9th. The shares were sold at an average price of $277.47, for a total transaction of $346,837.50. Following the completion of the sale, the director owned 37,252 shares in the company, valued at approximately $10,336,312.44. This represents a 3.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ravi Inukonda sold 1,425 shares of the firm’s stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $263.86, for a total value of $376,000.50. Following the transaction, the chief financial officer directly owned 214,147 shares in the company, valued at approximately $56,504,827.42. This represents a 0.66% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 825,277 shares of company stock worth $205,015,591 over the last 90 days. 5.83% of the stock is owned by corporate insiders.

DoorDash Trading Up 4.0%

NASDAQ:DASH opened at $204.31 on Monday. The company has a market capitalization of $87.28 billion, a PE ratio of 103.71 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 stock’s 50 day moving average price is $258.75 and its 200 day moving average price is $238.06. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.29.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.55 earnings per share for the quarter, missing analysts’ consensus estimates 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 net margin of 6.83% and a return on equity of 9.97%. DoorDash’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.38 EPS. On average, research analysts anticipate that DoorDash, Inc. will post 2.22 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on DASH shares. Mizuho set a $350.00 price objective on shares of DoorDash and gave the stock an “outperform” rating in a research report on Monday, September 29th. JPMorgan Chase & Co. decreased their price target on DoorDash from $325.00 to $300.00 and set an “overweight” rating for the company in a report on Thursday. Zacks Research raised DoorDash from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 13th. Barclays cut their target price on DoorDash from $272.00 to $238.00 and set an “equal weight” rating on the stock in a research report on Thursday. Finally, Guggenheim raised DoorDash to a “strong-buy” rating in a report on Wednesday, October 15th. Four analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and eleven have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $280.62.

DoorDash Profile

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.