Connors Investor Services Inc. Sells 23,038 Shares of DoorDash, Inc. (NASDAQ:DASH)

Connors Investor Services Inc. trimmed its holdings in DoorDash, Inc. (NASDAQ:DASH) by 14.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 134,000 shares of the company’s stock after selling 23,038 shares during the quarter. DoorDash accounts for 1.5% of Connors Investor Services Inc.’s portfolio, making the stock its 24th largest holding. Connors Investor Services Inc.’s holdings in DoorDash were worth $14,577,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in DoorDash by 8.4% in the 4th quarter. Vanguard Group Inc. now owns 29,303,496 shares of the company’s stock valued at $2,897,823,000 after purchasing an additional 2,259,976 shares during the period. Baillie Gifford & Co. lifted its stake in shares of DoorDash by 0.8% in the second quarter. Baillie Gifford & Co. now owns 12,497,488 shares of the company’s stock valued at $1,359,477,000 after buying an additional 94,241 shares during the period. Capital World Investors grew its position in DoorDash by 0.8% during the first quarter. Capital World Investors now owns 9,470,247 shares of the company’s stock worth $1,304,242,000 after buying an additional 74,504 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in DoorDash by 4.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,469,647 shares of the company’s stock valued at $753,281,000 after acquiring an additional 242,956 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of DoorDash by 11,416.7% during the 1st quarter. Janus Henderson Group PLC now owns 3,455,116 shares of the company’s stock worth $475,837,000 after purchasing an additional 3,425,115 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Price Performance

Shares of DASH stock opened at $130.87 on Tuesday. The stock has a market cap of $53.51 billion, a PE ratio of -121.18, a price-to-earnings-growth ratio of 275.59 and a beta of 1.69. The stock has a 50-day moving average of $119.09 and a 200-day moving average of $121.32. DoorDash, Inc. has a one year low of $69.90 and a one year high of $143.34.

DoorDash (NASDAQ:DASH) last issued its earnings results on Thursday, August 1st. The company reported ($0.38) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.29). DoorDash had a negative net margin of 4.24% and a negative return on equity of 5.91%. The firm had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same period in the previous year, the company posted ($0.44) EPS. The firm’s revenue for the quarter was up 23.3% on a year-over-year basis. As a group, research analysts anticipate that DoorDash, Inc. will post 0.01 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on DASH. Evercore ISI increased their price target on shares of DoorDash from $145.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. KeyCorp assumed coverage on DoorDash in a research note on Thursday, July 11th. They set a “sector weight” rating for the company. Redburn Atlantic initiated coverage on shares of DoorDash in a research note on Friday, July 26th. They issued a “buy” rating and a $170.00 target price on the stock. Cantor Fitzgerald started coverage on shares of DoorDash in a research report on Thursday, September 5th. They set an “overweight” rating and a $160.00 target price for the company. Finally, Truist Financial lifted their price target on shares of DoorDash from $145.00 to $150.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Eleven equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $142.57.

Insider Buying and Selling

In other DoorDash news, CEO Tony Xu sold 54,166 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $104.96, for a total transaction of $5,685,263.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other DoorDash news, CEO Tony Xu sold 54,166 shares of the stock in a transaction on Monday, July 15th. The shares were sold at an average price of $104.96, for a total value of $5,685,263.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Keith Yandell sold 6,554 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $107.75, for a total transaction of $706,193.50. Following the transaction, the insider now owns 155,097 shares in the company, valued at $16,711,701.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 304,769 shares of company stock valued at $34,760,113. Company insiders own 7.92% of the company’s stock.

DoorDash Company 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.