Advisor Group Holdings Inc. reduced its holdings in DoorDash, Inc. (NYSE:DASH) by 6.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,285 shares of the company’s stock after selling 212 shares during the period. Advisor Group Holdings Inc.’s holdings in DoorDash were worth $585,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also modified their holdings of the business. Tsfg LLC bought a new stake in shares of DoorDash in the 2nd quarter worth about $63,000. The PNC Financial Services Group Inc. bought a new stake in DoorDash during the 1st quarter valued at about $49,000. Evoke Wealth LLC bought a new stake in DoorDash during the 1st quarter valued at about $115,000. Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in DoorDash during the 2nd quarter valued at about $231,000. Finally, Man Group plc bought a new stake in DoorDash during the 1st quarter valued at about $206,000. 73.53% of the stock is owned by institutional investors and hedge funds.
In related news, Director Andy Fang sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 15th. The shares were sold at an average price of $168.16, for a total value of $6,726,400.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Christopher D. Payne sold 22,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 29th. The stock was sold at an average price of $181.45, for a total transaction of $3,991,900.00. The disclosure for this sale can be found here. Insiders have sold 12,036,771 shares of company stock worth $2,182,812,013 in the last three months. Corporate insiders own 15.54% of the company’s stock.
DoorDash (NYSE:DASH) last announced its earnings results on Thursday, August 12th. The company reported ($0.30) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.20) by ($0.10). The business had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.10 billion. As a group, sell-side analysts anticipate that DoorDash, Inc. will post -1.15 EPS for the current fiscal year.
Several equities research analysts have recently commented on the stock. Needham & Company LLC boosted their price target on shares of DoorDash from $195.00 to $230.00 and gave the company a “buy” rating in a report on Friday, August 13th. Bank of America raised shares of DoorDash from a “neutral” rating to a “buy” rating and set a $225.00 price objective on the stock in a research report on Thursday, September 16th. Susquehanna Bancshares boosted their target price on shares of DoorDash from $175.00 to $220.00 and gave the stock a “positive” rating in a research report on Tuesday, August 17th. Gordon Haskett began coverage on shares of DoorDash in a research report on Monday, August 2nd. They set a “buy” rating and a $206.00 target price on the stock. Finally, The Goldman Sachs Group began coverage on shares of DoorDash in a report on Monday, September 13th. They issued a “neutral” rating and a $187.00 price objective on the stock. Twelve investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $191.65.
DoorDash, Inc operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash marketplace, which provides an array of services that enable merchants to solve mission-critical challenges, such as customer acquisition, delivery, insights and analytics, merchandising, payment processing, and customer support; and offers DoorDash Drive, a white-label logistics service; DoorDash Storefront that enables merchants to offer consumers on-demand access to e-commerce.
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