BI Asset Management Fondsmaeglerselskab A S Cuts Stock Holdings in DoorDash, Inc. (NASDAQ:DASH)

BI Asset Management Fondsmaeglerselskab A S lowered its holdings in DoorDash, Inc. (NASDAQ:DASH) by 1.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,725 shares of the company’s stock after selling 113 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in DoorDash were worth $1,064,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of DASH. Wells Fargo & Company MN grew its stake in DoorDash by 102.5% in the fourth quarter. Wells Fargo & Company MN now owns 199,152 shares of the company’s stock valued at $19,694,000 after purchasing an additional 100,787 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of DoorDash by 1,725.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,113,175 shares of the company’s stock worth $110,082,000 after acquiring an additional 1,052,198 shares in the last quarter. Sequoia Financial Advisors LLC bought a new position in shares of DoorDash during the 4th quarter worth approximately $769,000. Bank of Nova Scotia lifted its position in DoorDash by 298.3% during the fourth quarter. Bank of Nova Scotia now owns 186,201 shares of the company’s stock valued at $18,413,000 after acquiring an additional 139,450 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in DoorDash by 294.5% in the fourth quarter. Franklin Resources Inc. now owns 1,607,776 shares of the company’s stock valued at $158,993,000 after acquiring an additional 1,200,181 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

DoorDash Stock Performance

DoorDash stock traded down $5.30 during midday trading on Wednesday, hitting $103.65. 1,657,320 shares of the company were exchanged, compared to its average volume of 3,894,571. DoorDash, Inc. has a fifty-two week low of $69.90 and a fifty-two week high of $143.34. The firm has a market capitalization of $42.38 billion, a PE ratio of -96.51, a price-to-earnings-growth ratio of 27.57 and a beta of 1.67. The business has a fifty day simple moving average of $112.70 and a two-hundred day simple moving average of $117.73.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data on Wednesday, May 1st. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. DoorDash had a negative net margin of 4.61% and a negative return on equity of 6.28%. The business had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.45 billion. During the same quarter last year, the company earned ($0.41) EPS. The business’s revenue was up 23.5% on a year-over-year basis. As a group, equities analysts expect that DoorDash, Inc. will post 0.11 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on DASH. Piper Sandler raised DoorDash from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $53.00 to $127.00 in a research report on Friday, March 15th. Citigroup increased their price target on DoorDash from $141.00 to $144.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Wells Fargo & Company boosted their price target on DoorDash from $100.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 4th. Benchmark cut their price objective on shares of DoorDash from $165.00 to $150.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $137.00 target price on shares of DoorDash in a research note on Thursday, May 2nd. Eight equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $134.79.

Insider Activity at DoorDash

In other DoorDash news, CEO Tony Xu sold 132,300 shares of the company’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $133.51, for a total value of $17,663,373.00. The sale 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 132,300 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $133.51, for a total value of $17,663,373.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Prabir Adarkar sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $107.61, for a total value of $860,880.00. Following the completion of the sale, the chief operating officer now owns 1,002,787 shares of the company’s stock, valued at $107,909,909.07. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 553,345 shares of company stock worth $66,416,801. 7.92% of the stock is owned by company insiders.

About DoorDash

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.