DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main Reduces Stock Holdings in DoorDash, Inc. (NASDAQ:DASH)

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main cut its holdings in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 85.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,253 shares of the company's stock after selling 43,312 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main's holdings in DoorDash were worth $1,217,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Swedbank AB boosted its position in shares of DoorDash by 3.3% during the fourth quarter. Swedbank AB now owns 171,055 shares of the company's stock valued at $28,694,000 after buying an additional 5,539 shares during the last quarter. LVW Advisors LLC purchased a new position in DoorDash in the fourth quarter worth about $236,000. Retireful LLC boosted its position in DoorDash by 121.4% in the fourth quarter. Retireful LLC now owns 9,621 shares of the company's stock worth $1,614,000 after purchasing an additional 5,275 shares during the last quarter. Flagship Harbor Advisors LLC purchased a new position in DoorDash in the fourth quarter worth about $240,000. Finally, Merit Financial Group LLC purchased a new position in DoorDash in the fourth quarter worth about $503,000. 90.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DASH. Evercore ISI reissued an "outperform" rating on shares of DoorDash in a research report on Monday, March 10th. Loop Capital raised their target price on DoorDash from $200.00 to $235.00 and gave the stock a "buy" rating in a research report on Monday, February 24th. Bank of America dropped their target price on DoorDash from $245.00 to $235.00 and set a "buy" rating on the stock in a research report on Monday, April 7th. KeyCorp dropped their target price on DoorDash from $240.00 to $230.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $210.00 target price on shares of DoorDash in a research report on Wednesday, May 7th. Ten equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $209.97.

DoorDash Trading Up 0.1%

DASH traded up $0.26 on Thursday, hitting $197.10. 3,558,291 shares of the company's stock traded hands, compared to its average volume of 4,169,597. The company's 50 day simple moving average is $185.28 and its 200-day simple moving average is $181.52. The firm has a market cap of $82.80 billion, a price-to-earnings ratio of 730.00 and a beta of 1.68. DoorDash, Inc. has a one year low of $99.32 and a one year 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 (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 business had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter in the previous year, the company posted ($0.06) EPS. The company's revenue was up 20.7% compared to the same quarter last year. As a group, equities analysts anticipate that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Ravi Inukonda sold 1,425 shares of DoorDash stock in a transaction that occurred on Friday, April 25th. The stock was sold at an average price of $187.22, for a total value of $266,788.50. Following the completion of the transaction, the chief financial officer now owns 337,430 shares in the company, valued at approximately $63,173,644.60. The trade was a 0.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $181.21, for a total value of $8,228,746.10. Following the completion of the transaction, the director now owns 18,285 shares of the company's stock, valued at approximately $3,313,424.85. This trade represents a 71.29% decrease in their position. 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 in the last quarter. 5.83% of the stock is currently owned by insiders.

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.