DoorDash, Inc. $DASH Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. trimmed its position in DoorDash, Inc. (NASDAQ:DASH) by 15.9% in the second quarter, Holdings Channel reports. The firm owned 522,714 shares of the company’s stock after selling 98,860 shares during the quarter. Bessemer Group Inc.’s holdings in DoorDash were worth $128,854,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in DoorDash by 25.8% in the first quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company’s stock worth $7,200,642,000 after acquiring an additional 8,073,882 shares during the last quarter. AQR Capital Management LLC lifted its holdings in DoorDash by 442.5% in the first quarter. AQR Capital Management LLC now owns 1,836,122 shares of the company’s stock worth $321,799,000 after acquiring an additional 1,497,636 shares during the last quarter. Invesco Ltd. lifted its holdings in DoorDash by 41.9% in the first quarter. Invesco Ltd. now owns 4,799,851 shares of the company’s stock worth $877,269,000 after acquiring an additional 1,416,194 shares during the last quarter. Nuveen LLC bought a new position in DoorDash in the first quarter worth about $211,415,000. Finally, Deutsche Bank AG lifted its holdings in DoorDash by 111.3% in the first quarter. Deutsche Bank AG now owns 2,009,699 shares of the company’s stock worth $367,313,000 after acquiring an additional 1,058,731 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at DoorDash

In related news, CEO Tony Xu sold 291,403 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $238.19, for a total transaction of $69,409,280.57. Following the transaction, the chief executive officer owned 229,047 shares in the company, valued at $54,556,704.93. This trade represents a 55.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $275.74, for a total transaction of $13,787,000.00. Following the transaction, the director owned 22,545 shares in the company, valued at $6,216,558.30. This represents a 68.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 928,114 shares of company stock worth $232,553,670 over the last ninety days. Insiders own 5.83% of the company’s stock.

DoorDash Stock Performance

DASH opened at $263.35 on Tuesday. The business’s 50 day moving average is $259.95 and its 200-day moving average is $233.86. The stock has a market cap of $112.50 billion, a PE ratio of 146.31 and a beta of 1.71. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.30. DoorDash, Inc. has a twelve month low of $152.26 and a twelve month high of $285.50.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.23. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same quarter last year, the business earned ($0.38) earnings per share. The business’s revenue for the quarter was up 24.9% on a year-over-year basis. On average, analysts predict that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of DoorDash in a report on Monday. They issued a “buy” rating and a $315.00 target price on the stock. Piper Sandler raised their target price on shares of DoorDash from $210.00 to $290.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Morgan Stanley raised their target price on shares of DoorDash from $300.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Raymond James Financial reissued a “strong-buy” rating and issued a $325.00 target price (up previously from $275.00) on shares of DoorDash in a report on Thursday, August 7th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of DoorDash in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $290.82.

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.