Pitcairn Co. Decreases Stock Position in DoorDash, Inc. (NASDAQ:DASH)

Pitcairn Co. cut its stake in DoorDash, Inc. (NASDAQ:DASH) by 13.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,573 shares of the company’s stock after selling 2,102 shares during the period. Pitcairn Co.’s holdings in DoorDash were worth $1,937,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DASH. Rakuten Securities Inc. lifted its holdings in shares of DoorDash by 302.3% in the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock valued at $25,000 after purchasing an additional 130 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of DoorDash in the 2nd quarter valued at about $32,000. Meeder Asset Management Inc. lifted its holdings in shares of DoorDash by 82.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock valued at $32,000 after purchasing an additional 132 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of DoorDash by 340.8% in the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock valued at $36,000 after purchasing an additional 259 shares during the last quarter. Finally, Quest Partners LLC lifted its holdings in shares of DoorDash by 146.8% in the 2nd quarter. Quest Partners LLC now owns 343 shares of the company’s stock valued at $37,000 after purchasing an additional 204 shares during the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

DoorDash Stock Up 2.4 %

Shares of DoorDash stock opened at $177.24 on Friday. DoorDash, Inc. has a fifty-two week low of $92.56 and a fifty-two week high of $178.16. The firm has a market cap of $73.62 billion, a PE ratio of -393.87, a P/E/G ratio of 13.31 and a beta of 1.67. The business’s fifty day moving average is $153.61 and its two-hundred day moving average is $128.96.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.17. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The company had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same quarter in the prior year, the company posted ($0.19) EPS. The business’s revenue for the quarter was up 25.0% compared to the same quarter last year. Equities research analysts anticipate that DoorDash, Inc. will post 0.26 EPS for the current year.

Insider Activity at DoorDash

In other DoorDash news, insider Keith Yandell sold 7,980 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $169.98, for a total value of $1,356,440.40. Following the transaction, the insider now directly owns 124,221 shares of the company’s stock, valued at $21,115,085.58. This trade represents a 6.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Ravi Inukonda sold 7,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $127.86, for a total value of $895,020.00. Following the completion of the transaction, the chief financial officer now directly owns 396,152 shares in the company, valued at $50,651,994.72. This trade represents a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 547,753 shares of company stock worth $84,544,996. 7.92% of the stock is owned by insiders.

Analysts Set New Price Targets

DASH has been the topic of several recent research reports. Wells Fargo & Company boosted their price target on DoorDash from $127.00 to $142.00 and gave the company an “equal weight” rating in a research report on Friday, October 4th. Piper Sandler boosted their price target on DoorDash from $125.00 to $160.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. The Goldman Sachs Group boosted their price target on DoorDash from $142.00 to $161.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Barclays boosted their price target on DoorDash from $120.00 to $163.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Finally, Wedbush restated a “neutral” rating and issued a $115.00 price target on shares of DoorDash in a research report on Friday, August 2nd. Ten research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, DoorDash presently has an average rating of “Moderate Buy” and a consensus target price of $164.03.

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.