American Century Companies Inc. Sells 202,139 Shares of DoorDash, Inc. $DASH

Key Points

• American Century Companies Inc. reduced its stake in DoorDash by 23.7%, selling 202,139 shares and holding 650,401 shares valued at approximately $118.87 million as of the end of the last quarter.
• Multiple hedge funds increased their stakes in DoorDash significantly during the same period, with some reporting boosts as high as 1,452.9%.
• Analysts are optimistic about DoorDash's future, with several firms raising their price targets, including Evercore ISI, which increased its target to $360.00, reflecting a consensus rating of "Moderate Buy."

American Century Companies Inc. lessened its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 23.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 650,401 shares of the company's stock after selling 202,139 shares during the period. American Century Companies Inc. owned 0.15% of DoorDash worth $118,874,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of DASH. Brighton Jones LLC boosted its holdings in shares of DoorDash by 24.0% in the fourth quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock valued at $1,566,000 after acquiring an additional 1,807 shares in the last quarter. Synovus Financial Corp acquired a new position in shares of DoorDash in the 4th quarter worth approximately $228,000. United Capital Financial Advisors LLC raised its holdings in shares of DoorDash by 7.1% in the 4th quarter. United Capital Financial Advisors LLC now owns 5,185 shares of the company's stock worth $870,000 after purchasing an additional 344 shares in the last quarter. NewEdge Advisors LLC lifted its stake in DoorDash by 9.3% during the fourth quarter. NewEdge Advisors LLC now owns 6,068 shares of the company's stock valued at $1,018,000 after purchasing an additional 514 shares during the last quarter. Finally, GeoWealth Management LLC boosted its holdings in DoorDash by 3.7% during the fourth quarter. GeoWealth Management LLC now owns 1,428 shares of the company's stock worth $240,000 after buying an additional 51 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company's stock.

DoorDash Stock Down 1.8%

DASH traded down $4.55 on Wednesday, reaching $243.82. 6,571,412 shares of the company traded hands, compared to its average volume of 4,747,383. The company has a market cap of $104.16 billion, a price-to-earnings ratio of 135.46 and a beta of 1.70. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.07 and a quick ratio of 2.07. The stock's 50 day moving average price is $241.27 and its 200-day moving average price is $209.95. DoorDash, Inc. has a 52-week low of $122.32 and a 52-week high of $278.15.

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 analysts' consensus estimates of $0.42 by $0.23. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter last year, the business posted ($0.38) EPS. The company's revenue for the quarter was up 24.9% on a year-over-year basis. On average, sell-side analysts expect that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Oppenheimer upped their price target on DoorDash from $280.00 to $310.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. 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 target price on DoorDash from $210.00 to $265.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. Morgan Stanley increased their price target on DoorDash from $275.00 to $300.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Finally, Bank of America lifted their price target on DoorDash from $230.00 to $245.00 and gave the stock a "buy" rating in a research note on Thursday, June 12th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and thirteen have assigned a Hold rating to the company. According to MarketBeat, DoorDash currently has an average rating of "Moderate Buy" and a consensus price target of $263.88.

Insider Transactions at DoorDash

In other DoorDash news, Director Andy Fang sold 50,000 shares of the company's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $275.74, for a total value of $13,787,000.00. Following the transaction, the director directly owned 22,545 shares of the company's stock, valued at $6,216,558.30. This represents a 68.92% decrease in their position. The sale 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 firm's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $240.69, for a total value of $10,929,732.90. Following the sale, the director directly owned 26,070 shares of the company's stock, valued at $6,274,788.30. This trade represents a 63.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 688,999 shares of company stock worth $163,218,226. 5.83% of the stock is owned by company insiders.

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.