AlphaQuest LLC Sells 3,009 Shares of DoorDash, Inc. $DASH

Key Points

• AlphaQuest LLC reduced its stake in DoorDash, Inc. by 62.4%, owning 1,810 shares valued at $331,000 after selling 3,009 shares in the first quarter.
• Other institutional investors, such as Harbour Investments Inc. and CVA Family Office LLC, have increased their positions in DoorDash during the same period.
• The company reported a quarterly earnings per share (EPS) of $0.65, surpassing expectations of $0.42, with a year-over-year revenue increase of 24.9%.

AlphaQuest LLC decreased its holdings in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 62.4% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,810 shares of the company's stock after selling 3,009 shares during the quarter. AlphaQuest LLC's holdings in DoorDash were worth $331,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of DoorDash by 25.8% during the first quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company's stock worth $7,200,642,000 after purchasing an additional 8,073,882 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in DoorDash by 15.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,907,970 shares of the company's stock valued at $897,031,000 after acquiring an additional 641,601 shares during the period. Invesco Ltd. increased its stake in DoorDash by 41.9% during the 1st quarter. Invesco Ltd. now owns 4,799,851 shares of the company's stock worth $877,269,000 after purchasing an additional 1,416,194 shares in the last quarter. Northern Trust Corp raised its holdings in shares of DoorDash by 38.2% during the first quarter. Northern Trust Corp now owns 3,309,237 shares of the company's stock worth $604,829,000 after acquiring an additional 915,512 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in shares of DoorDash by 36.5% during the first quarter. Goldman Sachs Group Inc. now owns 3,151,986 shares of the company's stock worth $576,089,000 after buying an additional 842,637 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company's stock.

DoorDash Stock Down 0.8%

NASDAQ:DASH traded down $2.08 on Monday, hitting $245.25. The stock had a trading volume of 1,966,601 shares, compared to its average volume of 3,835,808. The firm's fifty day simple moving average is $245.52 and its two-hundred day simple moving average is $212.84. The stock has a market cap of $104.77 billion, a P/E ratio of 136.25 and a beta of 1.70. DoorDash, Inc. has a 1 year low of $122.32 and a 1 year high of $278.15. 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 (NASDAQ:DASH - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.23. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.The firm had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same period in the previous year, the company posted ($0.38) earnings per share. The business's revenue was up 24.9% on a year-over-year basis. Analysts predict that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. BMO Capital Markets raised their price target on DoorDash from $238.00 to $288.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. DA Davidson increased their price target on shares of DoorDash from $150.00 to $190.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Jefferies Financial Group lifted their target price on DoorDash from $250.00 to $265.00 and gave the stock a "hold" rating in a report on Monday, August 11th. Sanford C. Bernstein boosted their price target on DoorDash from $210.00 to $265.00 and gave the company an "outperform" rating in a research note on Monday, July 21st. Finally, Royal Bank Of Canada raised their target price on shares of DoorDash from $230.00 to $300.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $263.88.

Insiders Place Their Bets

In related news, Director Andy Fang sold 50,000 shares of the stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $275.74, for a total transaction of $13,787,000.00. Following the completion of the sale, the director directly owned 22,545 shares in the company, valued at $6,216,558.30. This represents a 68.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Tony Xu sold 291,403 shares of DoorDash stock in a transaction that occurred on 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 directly owned 229,047 shares in the company, valued at $54,556,704.93. This trade represents a 55.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 887,533 shares of company stock worth $215,154,500 over the last three months. Company insiders own 5.83% of the company's stock.

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.