United Asset Strategies Inc. Lowers Position in DoorDash, Inc. (NASDAQ:DASH)

United Asset Strategies Inc. reduced its stake in DoorDash, Inc. (NASDAQ:DASH) by 2.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,491 shares of the company’s stock after selling 157 shares during the period. United Asset Strategies Inc.’s holdings in DoorDash were worth $1,257,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Baillie Gifford & Co. boosted its position in shares of DoorDash by 13.2% during the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock worth $2,018,584,000 after purchasing an additional 1,645,186 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of DoorDash by 216.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,082,362 shares of the company’s stock worth $154,486,000 after buying an additional 739,961 shares during the period. Janus Henderson Group PLC boosted its position in shares of DoorDash by 14.5% during the third quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock worth $789,766,000 after buying an additional 700,465 shares during the period. Thrivent Financial for Lutherans grew its stake in shares of DoorDash by 5,396.1% in the third quarter. Thrivent Financial for Lutherans now owns 663,599 shares of the company’s stock valued at $94,716,000 after buying an additional 651,525 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of DoorDash by 15.2% in the 3rd quarter. Franklin Resources Inc. now owns 3,800,396 shares of the company’s stock valued at $570,135,000 after buying an additional 501,905 shares during the period. Institutional investors and hedge funds own 90.64% of the company’s stock.

Insider Transactions at DoorDash

In related news, CEO Tony Xu sold 115,432 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $177.01, for a total value of $20,432,618.32. Following the sale, the chief executive officer now directly owns 1,500 shares of the company’s stock, valued at approximately $265,515. This trade represents a 98.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $172.67, for a total transaction of $8,633,500.00. Following the transaction, the director now directly owns 18,089 shares of the company’s stock, valued at $3,123,427.63. This trade represents a 73.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,019,333 shares of company stock worth $177,556,541 over the last quarter. 7.92% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on DASH shares. Barclays increased their price target on shares of DoorDash from $120.00 to $163.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Bank of America raised their price target on shares of DoorDash from $172.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday. Argus upgraded shares of DoorDash from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. Citigroup increased their price objective on DoorDash from $155.00 to $211.00 and gave the company a “buy” rating in a research note on Wednesday, November 27th. Finally, Needham & Company LLC boosted their target price on DoorDash from $145.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Nine investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $176.97.

DoorDash Stock Performance

NASDAQ:DASH opened at $183.32 on Monday. DoorDash, Inc. has a 12-month low of $99.32 and a 12-month high of $184.26. The company’s 50-day moving average is $174.13 and its two-hundred day moving average is $148.76.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.17. The business had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The company’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.19) earnings per share. Analysts forecast that DoorDash, Inc. will post 0.29 earnings per share for the current fiscal year.

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.