DoorDash, Inc. $DASH Shares Sold by Luxor Capital Group LP

Luxor Capital Group LP lowered its stake in DoorDash, Inc. (NASDAQ:DASH) by 40.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 287,397 shares of the company’s stock after selling 195,103 shares during the quarter. DoorDash makes up approximately 3.0% of Luxor Capital Group LP’s investment portfolio, making the stock its 7th largest position. Luxor Capital Group LP owned approximately 0.07% of DoorDash worth $43,153,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. BTIG Research lowered their price objective on shares of DoorDash from $280.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday, June 12th. Stifel Nicolaus reduced their price target on DoorDash from $215.00 to $185.00 and set a “hold” rating for the company in a report on Monday, April 13th. The Goldman Sachs Group set a $280.00 price target on DoorDash in a report on Thursday, May 7th. Argus set a $190.00 price target on DoorDash in a research report on Thursday, June 11th. Finally, Wells Fargo & Company dropped their price objective on DoorDash from $200.00 to $199.00 and set an “equal weight” rating on the stock in a research note on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $252.89.

Insider Transactions at DoorDash

In other DoorDash news, Director Andy Fang sold 5,000 shares of the stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $180.00, for a total value of $900,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Tia Sherringham sold 2,743 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $160.79, for a total transaction of $441,046.97. Following the sale, the general counsel owned 128,216 shares of the company’s stock, valued at $20,615,850.64. This trade represents a 2.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 74,927 shares of company stock worth $13,241,532. 5.83% of the stock is currently owned by insiders.

DoorDash Price Performance

Shares of DASH opened at $172.91 on Friday. The firm has a market capitalization of $75.34 billion, a PE ratio of 82.34 and a beta of 1.78. The company’s 50-day moving average is $172.22 and its 200-day moving average is $176.04. DoorDash, Inc. has a fifty-two week low of $143.30 and a fifty-two week high of $285.50. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.43 and a quick ratio of 1.43.

DoorDash (NASDAQ:DASH) last posted its 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 company had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $4.15 billion. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. DoorDash’s quarterly revenue was up 33.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.44 EPS. Equities analysts forecast that DoorDash, Inc. will post 2.39 EPS for the current year.

About DoorDash

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.