Capital World Investors Trims Stake in DoorDash, Inc. $DASH

Capital World Investors decreased its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 5.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 10,284,031 shares of the company’s stock after selling 581,896 shares during the period. Capital World Investors’ holdings in DoorDash were worth $2,329,130,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. American Century Companies Inc. boosted its position in shares of DoorDash by 5.0% in the 3rd quarter. American Century Companies Inc. now owns 485,088 shares of the company’s stock worth $131,941,000 after purchasing an additional 22,944 shares in the last quarter. Caprock Group LLC bought a new stake in shares of DoorDash in the 3rd quarter worth approximately $3,169,000. Vaughan Nelson Investment Management L.P. bought a new stake in shares of DoorDash in the 4th quarter worth approximately $41,712,000. Intech Investment Management LLC boosted its position in shares of DoorDash by 707.8% in the 4th quarter. Intech Investment Management LLC now owns 253,348 shares of the company’s stock worth $57,378,000 after purchasing an additional 221,985 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of DoorDash by 7.1% in the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 806,191 shares of the company’s stock worth $219,276,000 after purchasing an additional 53,722 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on DASH shares. Wells Fargo & Company boosted their price target on DoorDash from $198.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 7th. Needham & Company LLC reissued a “buy” rating and issued a $265.00 price target on shares of DoorDash in a research report on Thursday, May 7th. DA Davidson dropped their price target on DoorDash from $224.00 to $200.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. Truist Financial dropped their price target on DoorDash from $340.00 to $330.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Finally, Guggenheim dropped their price target on DoorDash from $275.00 to $255.00 and set a “buy” rating on the stock in a research report on Thursday, February 19th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $259.58.

DoorDash Stock Performance

DASH stock opened at $156.80 on Friday. The stock has a market capitalization of $68.32 billion, a PE ratio of 74.67 and a beta of 1.83. DoorDash, Inc. has a 12-month low of $143.30 and a 12-month high of $285.50. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.27. The stock’s 50 day simple moving average is $162.40 and its 200 day simple moving average is $185.84.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.06. The business had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $4.15 billion. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The firm’s quarterly revenue was up 33.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.44 EPS. As a group, research analysts forecast that DoorDash, Inc. will post 2.45 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Prabir Adarkar sold 21,739 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $155.25, for a total value of $3,374,979.75. Following the transaction, the chief operating officer directly owned 959,076 shares of the company’s stock, valued at approximately $148,896,549. This represents a 2.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stanley Tang sold 21,433 shares of the business’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $150.00, for a total transaction of $3,214,950.00. Following the sale, the director owned 19,279 shares of the company’s stock, valued at approximately $2,891,850. This represents a 52.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 69,808 shares of company stock worth $11,135,403 in the last three months. Corporate insiders own 5.83% of the company’s stock.

DoorDash Company Profile

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.