DoorDash, Inc. $DASH Shares Sold by Sterling Capital Management LLC

Sterling Capital Management LLC trimmed its holdings in DoorDash, Inc. (NASDAQ:DASH) by 38.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,811 shares of the company’s stock after selling 10,598 shares during the quarter. Sterling Capital Management LLC’s holdings in DoorDash were worth $2,524,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Keel Point LLC boosted its position in DoorDash by 4.3% during the 3rd quarter. Keel Point LLC now owns 1,393 shares of the company’s stock worth $379,000 after acquiring an additional 58 shares during the period. CYBER HORNET ETFs LLC increased its holdings in shares of DoorDash by 6.5% during the fourth quarter. CYBER HORNET ETFs LLC now owns 979 shares of the company’s stock valued at $222,000 after purchasing an additional 60 shares during the period. Vise Technologies Inc. increased its holdings in shares of DoorDash by 1.8% during the fourth quarter. Vise Technologies Inc. now owns 3,517 shares of the company’s stock valued at $796,000 after purchasing an additional 63 shares during the period. MassMutual Private Wealth & Trust FSB raised its stake in shares of DoorDash by 7.0% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 982 shares of the company’s stock valued at $222,000 after purchasing an additional 64 shares in the last quarter. Finally, Sunbelt Securities Inc. raised its stake in shares of DoorDash by 124.1% during the third quarter. Sunbelt Securities Inc. now owns 121 shares of the company’s stock valued at $33,000 after purchasing an additional 67 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

DoorDash Price Performance

Shares of DoorDash stock opened at $183.42 on Monday. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.27. The company’s 50-day moving average price is $165.50 and its two-hundred day moving average price is $181.54. DoorDash, Inc. has a 52 week low of $143.30 and a 52 week high of $285.50. The stock has a market cap of $79.92 billion, a PE ratio of 87.34 and a beta of 1.83.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.06. The company had revenue of $4.04 billion during the quarter, compared to analyst estimates of $4.15 billion. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The business’s revenue for the quarter was up 33.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.44 EPS. As a group, sell-side analysts anticipate that DoorDash, Inc. will post 2.41 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Mizuho decreased their target price on shares of DoorDash from $320.00 to $255.00 and set an “outperform” rating for the company in a research report on Tuesday, March 3rd. Piper Sandler dropped their price target on shares of DoorDash from $220.00 to $205.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. Stifel Nicolaus reduced their price target on shares of DoorDash from $215.00 to $185.00 and set a “hold” rating for the company in a research note on Monday, April 13th. Wells Fargo & Company increased their price objective on shares of DoorDash from $198.00 to $200.00 and gave the company an “equal weight” rating in a report on Thursday, May 7th. Finally, TD Cowen began coverage on shares of DoorDash in a research note on Monday, April 27th. They set a “buy” rating and a $225.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $256.11.

More DoorDash News

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash and Urban Outfitters expanded their partnership with a graduation-themed campaign, reinforcing DoorDash’s growing role in consumer promotions and brand partnerships. Urban Outfitters and DoorDash Celebrate the Class of 2030
• Positive Sentiment: Precisely launched a new commercial property imagery offering powered by DoorDash Tasks, indicating DoorDash’s delivery network is finding additional enterprise use cases beyond food delivery. Precisely Launches Ground Level Images Enabled by DoorDash Tasks
• Neutral Sentiment: Director Andy Fang sold 5,000 shares worth about $900,000, but the transaction was executed under a pre-arranged Rule 10b5-1 plan, which typically reduces concern about the timing of insider selling.
• Negative Sentiment: Several news stories highlighted safety, delivery, and scam-related incidents involving DoorDash orders or drivers, which may add a small amount of reputational pressure even if they are isolated events. The DoorDash Order Was A Setup

Insider Buying and Selling at DoorDash

In other DoorDash news, Director Stanley Tang sold 21,433 shares of DoorDash stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $150.00, for a total value of $3,214,950.00. Following the transaction, the director owned 19,279 shares in the company, valued at approximately $2,891,850. The trade was a 52.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Andy Fang sold 5,000 shares of the company’s stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $180.00, for a total value of $900,000.00. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 63,558 shares of company stock valued at $10,224,940. Corporate insiders own 5.83% of the company’s stock.

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.