Cresset Asset Management LLC Trims Holdings in DoorDash, Inc. (NASDAQ:DASH)

Cresset Asset Management LLC lowered its stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 57.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,392 shares of the company's stock after selling 14,134 shares during the period. Cresset Asset Management LLC's holdings in DoorDash were worth $1,743,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in DASH. Pittenger & Anderson Inc. bought a new stake in shares of DoorDash during the fourth quarter worth about $29,000. Denver PWM LLC acquired a new stake in shares of DoorDash in the 4th quarter worth about $30,000. Princeton Global Asset Management LLC acquired a new stake in shares of DoorDash in the 4th quarter worth about $34,000. ORG Wealth Partners LLC acquired a new stake in shares of DoorDash in the 4th quarter worth about $36,000. Finally, IFP Advisors Inc raised its holdings in shares of DoorDash by 31.8% in the 4th quarter. IFP Advisors Inc now owns 224 shares of the company's stock worth $37,000 after acquiring an additional 54 shares during the last quarter. Institutional investors own 90.64% of the company's stock.

DoorDash Stock Down 0.5%

Shares of NASDAQ DASH traded down $0.96 during midday trading on Wednesday, hitting $196.84. The stock had a trading volume of 3,504,508 shares, compared to its average volume of 4,172,042. The business's 50 day moving average is $184.91 and its 200-day moving average is $181.41. The company has a market cap of $82.69 billion, a P/E ratio of 729.04 and a beta of 1.68. DoorDash, Inc. has a 52 week low of $99.32 and a 52 week high of $215.25.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.05. DoorDash had a net margin of 1.15% and a return on equity of 1.67%. The firm had revenue of $3.03 billion during the quarter, compared to analysts' expectations of $3.10 billion. During the same period in the previous year, the company earned ($0.06) earnings per share. The firm's quarterly revenue was up 20.7% on a year-over-year basis. As a group, analysts expect that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Insider Buying and Selling at DoorDash

In other DoorDash news, General Counsel Tia Sherringham sold 12,088 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 $2,459,303.60. Following the completion of the transaction, the general counsel now directly owns 122,135 shares in the company, valued at $24,848,365.75. This represents a 9.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Ravi Inukonda sold 15,198 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $204.11, for a total value of $3,102,063.78. Following the transaction, the chief financial officer now owns 351,970 shares of the company's stock, valued at $71,840,596.70. This represents a 4.14% 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 valued at $30,407,073 over the last ninety days. 7.92% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on DASH shares. Roth Capital set a $191.00 target price on shares of DoorDash and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Morgan Stanley cut their price objective on DoorDash from $245.00 to $210.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. KeyCorp decreased their target price on DoorDash from $240.00 to $230.00 and set an "overweight" rating for the company in a research report on Tuesday, April 15th. BMO Capital Markets reiterated an "outperform" rating on shares of DoorDash in a research note on Tuesday, April 29th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $230.00 target price on shares of DoorDash in a research report on Wednesday, May 7th. Ten research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $209.97.

DoorDash Company 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.