Amundi Sells 89,609 Shares of DoorDash, Inc. $DASH

Key Points

• Amundi has reduced its stake in DoorDash by 6.4%, holding 1,318,275 shares valued at approximately $229.37 million as per its recent SEC filing.
• DoorDash's latest earnings report showed earnings per share of $0.65, surpassing analysts' expectations, with revenue increasing by 24.9% year-over-year.
• Wall Street analysts have raised their price targets for DoorDash, with several firms giving it a "buy" rating and an average target price of $263.88, reflecting positive growth forecasts.

Amundi decreased its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 6.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,318,275 shares of the company's stock after selling 89,609 shares during the quarter. Amundi owned approximately 0.31% of DoorDash worth $229,367,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DASH. Palo Alto Wealth Advisors LLC grew its stake in DoorDash by 0.4% in the 1st quarter. Palo Alto Wealth Advisors LLC now owns 12,057 shares of the company's stock valued at $2,385,000 after buying an additional 54 shares during the last quarter. Harbour Investments Inc. raised its holdings in DoorDash by 55.6% in the 1st quarter. Harbour Investments Inc. now owns 196 shares of the company's stock worth $36,000 after acquiring an additional 70 shares during the period. LVW Advisors LLC raised its holdings in DoorDash by 6.1% in the 1st quarter. LVW Advisors LLC now owns 1,495 shares of the company's stock worth $273,000 after acquiring an additional 86 shares during the period. CVA Family Office LLC raised its holdings in DoorDash by 12.7% in the 1st quarter. CVA Family Office LLC now owns 774 shares of the company's stock worth $141,000 after acquiring an additional 87 shares during the period. Finally, Proficio Capital Partners LLC raised its holdings in DoorDash by 8.3% in the 1st quarter. Proficio Capital Partners LLC now owns 1,416 shares of the company's stock worth $259,000 after acquiring an additional 108 shares during the period. Hedge funds and other institutional investors own 90.64% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Citigroup reiterated an "outperform" rating on shares of DoorDash in a report on Thursday, August 7th. Truist Financial lifted their target price on shares of DoorDash from $272.00 to $326.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Susquehanna lifted their target price on shares of DoorDash from $235.00 to $300.00 and gave the stock a "positive" rating in a report on Monday, August 11th. Wedbush reiterated a "neutral" rating on shares of DoorDash in a report on Friday, August 8th. Finally, JMP Securities lifted their target price on shares of DoorDash from $250.00 to $335.00 and gave the stock a "market outperform" rating in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and thirteen have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $264.65.

Insider Buying and Selling at DoorDash

In other news, CEO Tony Xu sold 291,403 shares of the firm's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $238.19, for a total transaction of $69,409,280.57. Following the completion of the transaction, the chief executive officer directly owned 229,047 shares of the company's stock, valued at approximately $54,556,704.93. This trade represents a 55.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction of $10,929,732.90. Following the transaction, the director directly owned 26,070 shares of the company's stock, valued at $6,274,788.30. The trade was a 63.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,019,042 shares of company stock valued at $248,122,219 over the last quarter. 5.83% of the stock is currently owned by insiders.

DoorDash Price Performance

Shares of NASDAQ:DASH traded down $1.93 during midday trading on Friday, reaching $246.85. 2,195,370 shares of the company's stock were exchanged, compared to its average volume of 2,950,347. The company's 50 day simple moving average is $246.58 and its two-hundred day simple moving average is $214.09. The firm has a market capitalization of $105.45 billion, a PE ratio of 137.14 and a beta of 1.70. DoorDash, Inc. has a 12 month low of $122.32 and a 12 month 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 released its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.23. The company had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.16 billion. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. The firm's revenue for the quarter was up 24.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.38) EPS. Equities research analysts expect that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

DoorDash 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.