DoorDash, Inc. (NASDAQ:DASH) Shares Sold by Man Group plc

Man Group plc cut its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 15.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 579,788 shares of the company’s stock after selling 102,701 shares during the period. Man Group plc’s holdings in DoorDash were worth $97,259,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in DoorDash by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 31,323,404 shares of the company’s stock valued at $5,254,501,000 after purchasing an additional 317,502 shares during the last quarter. Capital World Investors boosted its stake in shares of DoorDash by 26.4% during the 4th quarter. Capital World Investors now owns 12,153,265 shares of the company’s stock valued at $2,038,712,000 after buying an additional 2,538,160 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of DoorDash by 25.0% during the 4th quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company’s stock valued at $796,781,000 after buying an additional 949,414 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of DoorDash by 67.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company’s stock worth $780,858,000 after buying an additional 1,869,866 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of DoorDash by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 4,558,821 shares of the company’s stock worth $763,198,000 after buying an additional 86,667 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Roth Capital set a $191.00 price objective on shares of DoorDash and gave the company a “neutral” rating in a research note on Wednesday, May 7th. BMO Capital Markets restated an “outperform” rating on shares of DoorDash in a research note on Tuesday, April 29th. Barclays increased their price target on shares of DoorDash from $163.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 13th. Wells Fargo & Company lowered their price objective on DoorDash from $201.00 to $198.00 and set an “equal weight” rating for the company in a report on Wednesday, May 7th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $230.00 target price on shares of DoorDash in a report on Wednesday, May 7th. Ten equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $209.97.

Insider Activity at DoorDash

In other DoorDash news, Director Andy Fang sold 1,398 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $203.45, for a total value of $284,423.10. Following the completion of the sale, the director now directly owns 14,778 shares in the company, valued at $3,006,584.10. This represents a 8.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Stanley Tang sold 45,410 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $181.21, for a total value of $8,228,746.10. Following the transaction, the director now directly owns 18,285 shares of the company’s stock, valued at approximately $3,313,424.85. The trade was a 71.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 158,573 shares of company stock worth $30,407,073 over the last ninety days. 7.92% of the stock is currently owned by corporate insiders.

DoorDash Trading Up 3.0%

Shares of NASDAQ DASH opened at $197.80 on Wednesday. DoorDash, Inc. has a 12-month low of $99.32 and a 12-month high of $215.25. The company has a market cap of $83.09 billion, a PE ratio of 732.59 and a beta of 1.68. The stock has a 50 day simple moving average of $184.91 and a 200-day simple moving average of $181.41.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.05. DoorDash had a return on equity of 1.67% and a net margin of 1.15%. The company had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same quarter in the previous year, the firm posted ($0.06) EPS. The firm’s quarterly revenue was up 20.7% on a year-over-year basis. Sell-side analysts forecast that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

DoorDash Profile

DoorDash, Inc, together with its subsidiaries, operates a commerce platform that connects merchants, consumers, and independent contractors in the United States and internationally. The company operates DoorDash Marketplace and Wolt Marketplace, which provide various services, such as customer acquisition, demand generation, order fulfillment, merchandising, payment processing, and customer support.