Sei Investments Co. Sells 360,013 Shares of DoorDash, Inc. $DASH

Sei Investments Co. decreased its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 35.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 646,445 shares of the company’s stock after selling 360,013 shares during the quarter. Sei Investments Co. owned about 0.15% of DoorDash worth $97,061,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in DASH. Norges Bank bought a new position in shares of DoorDash in the fourth quarter valued at $1,093,650,000. Wellington Management Group LLP increased its holdings in DoorDash by 593.1% during the fourth quarter. Wellington Management Group LLP now owns 5,481,693 shares of the company’s stock worth $1,241,494,000 after buying an additional 4,690,744 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in DoorDash by 32.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,958,114 shares of the company’s stock worth $3,161,234,000 after acquiring an additional 3,447,754 shares in the last quarter. Coatue Management LLC raised its position in DoorDash by 77.8% during the fourth quarter. Coatue Management LLC now owns 4,365,365 shares of the company’s stock worth $988,668,000 after acquiring an additional 1,910,488 shares in the last quarter. Finally, Alyeska Investment Group L.P. bought a new stake in DoorDash during the fourth quarter worth $372,128,000. Institutional investors own 90.64% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on DASH. Zacks Research downgraded shares of DoorDash from a “hold” rating to a “strong sell” rating in a research report on Friday, July 17th. Rothschild & Co Redburn set a $350.00 target price on shares of DoorDash in a report on Tuesday, May 12th. Wedbush started coverage on shares of DoorDash in a research note on Thursday, July 16th. They issued a “neutral” rating and a $205.00 target price for the company. UBS Group raised their target price on shares of DoorDash from $206.00 to $214.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Finally, Wells Fargo & Company reduced their price target on DoorDash from $200.00 to $199.00 and set an “equal weight” rating for the company in a report on Monday, July 6th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, DoorDash has an average rating of “Moderate Buy” and an average target price of $252.89.

DoorDash Price Performance

Shares of DoorDash stock opened at $169.77 on Friday. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.27. DoorDash, Inc. has a twelve month low of $143.30 and a twelve month high of $285.50. The company has a 50-day simple moving average of $171.94 and a two-hundred day simple moving average of $176.06. The stock has a market capitalization of $73.97 billion, a price-to-earnings ratio of 80.84 and a beta of 1.78.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. The business had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $4.15 billion. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The firm’s quarterly revenue was up 33.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.44 earnings per share. Analysts forecast that DoorDash, Inc. will post 2.39 EPS for the current year.

Insider Activity at DoorDash

In related news, Director Shona L. Brown sold 582 shares of the stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $177.06, for a total transaction of $103,048.92. Following the sale, the director owned 31,156 shares in the company, valued at approximately $5,516,481.36. This trade represents a 1.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ravi Inukonda sold 19,095 shares of the company’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $188.04, for a total value of $3,590,623.80. Following the sale, the chief financial officer owned 252,443 shares of the company’s stock, valued at $47,469,381.72. The trade was a 7.03% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 74,927 shares of company stock worth $13,241,532 in the last 90 days. Corporate insiders own 5.83% of the company’s stock.

DoorDash Profile

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.