Zurcher Kantonalbank Zurich Cantonalbank Reduces Stake in DoorDash, Inc. $DASH

Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in DoorDash, Inc. (NASDAQ:DASH) by 32.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 104,002 shares of the company’s stock after selling 50,002 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in DoorDash were worth $23,554,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Exane Asset Management purchased a new stake in DoorDash in the 4th quarter valued at $9,023,000. Bayforest Capital Ltd purchased a new stake in DoorDash in the 4th quarter valued at $246,000. First Horizon Corp grew its holdings in DoorDash by 83.5% in the 4th quarter. First Horizon Corp now owns 446 shares of the company’s stock valued at $101,000 after buying an additional 203 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its holdings in DoorDash by 12.4% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 14,285 shares of the company’s stock valued at $3,235,000 after buying an additional 1,578 shares in the last quarter. Finally, Hobart Private Capital LLC lifted its stake in shares of DoorDash by 209.7% in the 4th quarter. Hobart Private Capital LLC now owns 6,701 shares of the company’s stock valued at $1,518,000 after purchasing an additional 4,537 shares during the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

DoorDash Price Performance

DASH opened at $182.45 on Wednesday. The stock’s 50-day moving average price is $165.99 and its 200 day moving average price is $204.06. DoorDash, Inc. has a 12-month low of $143.30 and a 12-month high of $285.50. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.27. The firm has a market cap of $79.26 billion, a price-to-earnings ratio of 86.06 and a beta of 1.93.

DoorDash (NASDAQ:DASH) last posted its earnings results on Wednesday, February 18th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.10). DoorDash had a return on equity of 10.15% and a net margin of 6.82%.The firm had revenue of $3.96 billion for the quarter, compared to analyst estimates of $3.98 billion. During the same period in the previous year, the company posted $0.33 EPS. DoorDash’s revenue was up 37.7% on a year-over-year basis. As a group, sell-side analysts expect that DoorDash, Inc. will post 2.51 earnings per share for the current year.

Analysts Set New Price Targets

DASH has been the topic of several recent analyst reports. Evercore set a $300.00 price target on DoorDash in a research note on Thursday, February 19th. Wells Fargo & Company decreased their price target on DoorDash from $221.00 to $198.00 and set an “equal weight” rating on the stock in a research note on Monday, March 30th. Oppenheimer decreased their price target on DoorDash from $280.00 to $235.00 and set an “outperform” rating on the stock in a research note on Thursday, February 19th. Citigroup decreased their price target on DoorDash from $283.00 to $280.00 and set a “buy” rating on the stock in a research note on Friday, February 20th. Finally, BTIG Research decreased their price target on DoorDash from $315.00 to $280.00 and set a “buy” rating on the stock in a research note on Friday, April 10th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, DoorDash has an average rating of “Moderate Buy” and an average price target of $261.32.

Insider Buying and Selling

In related news, Director Shona L. Brown sold 1,250 shares of the stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $176.61, for a total transaction of $220,762.50. Following the transaction, the director owned 31,002 shares of the company’s stock, valued at approximately $5,475,263.22. This represents a 3.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stanley Tang sold 45,410 shares of the stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $209.01, for a total value of $9,491,144.10. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 79,406 shares of company stock valued at $14,756,224. 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.