3,892 Shares in DoorDash, Inc. $DASH Acquired by Trust Asset Management LLC

Key Points

• Trust Asset Management LLC acquired 3,892 shares of DoorDash, Inc. (NASDAQ:DASH), valued at approximately $959,000, during the second quarter.
• DoorDash's CEO Tony Xu sold 291,403 shares of stock for over $69 million, leading to a 55.99% reduction in his holdings.
• The company reported a quarterly earnings of $0.65 per share, exceeding analysts' expectations, with revenue of $3.28 billion during the period.

Trust Asset Management LLC bought a new position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 3,892 shares of the company's stock, valued at approximately $959,000.

Other institutional investors have also made changes to their positions in the company. Saudi Central Bank acquired a new position in shares of DoorDash during the 1st quarter worth approximately $25,000. WPG Advisers LLC bought a new stake in DoorDash in the 1st quarter valued at $26,000. Pacific Center for Financial Services bought a new stake in shares of DoorDash during the 1st quarter valued at $27,000. Harbour Investments Inc. lifted its position in shares of DoorDash by 55.6% during the 1st quarter. Harbour Investments Inc. now owns 196 shares of the company's stock valued at $36,000 after acquiring an additional 70 shares during the period. Finally, SouthState Corp lifted its position in shares of DoorDash by 762.5% during the 1st quarter. SouthState Corp now owns 207 shares of the company's stock valued at $38,000 after acquiring an additional 183 shares during the period. 90.64% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at DoorDash

In other DoorDash news, CEO Tony Xu sold 291,403 shares of the company's stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $238.19, for a total value of $69,409,280.57. Following the completion of the transaction, the chief executive officer owned 229,047 shares of the company's stock, valued at $54,556,704.93. This represents a 55.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Prabir Adarkar sold 41,881 shares of the company's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $245.82, for a total value of $10,295,187.42. Following the completion of the transaction, the chief operating officer directly owned 914,547 shares of the company's stock, valued at approximately $224,813,943.54. The trade was a 4.38% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,000,229 shares of company stock worth $249,280,188 in the last 90 days. 5.83% of the stock is currently owned by company insiders.

DoorDash Price Performance

DoorDash stock opened at $276.78 on Wednesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.07 and a current ratio of 2.07. DoorDash, Inc. has a 52 week low of $141.26 and a 52 week high of $285.08. The stock has a market capitalization of $118.24 billion, a P/E ratio of 153.77 and a beta of 1.71. The stock has a fifty day moving average of $256.89 and a 200-day moving average of $225.36.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.23. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.The company had revenue of $3.28 billion during the quarter, compared to analysts' expectations of $3.16 billion. During the same quarter in the previous year, the firm earned ($0.38) EPS. DoorDash's revenue was up 24.9% on a year-over-year basis. On average, sell-side analysts expect that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Weiss Ratings reiterated a "hold (c)" rating on shares of DoorDash in a research report on Saturday, September 27th. Loop Capital reiterated a "buy" rating on shares of DoorDash in a research report on Tuesday, July 15th. Sanford C. Bernstein upped their target price on DoorDash from $210.00 to $265.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. Benchmark upped their target price on DoorDash from $260.00 to $315.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Finally, Wells Fargo & Company cut their target price on DoorDash from $306.00 to $301.00 and set an "equal weight" rating for the company in a research report on Friday. Two research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $275.27.

About DoorDash

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.

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