Assenagon Asset Management S.A. Sells 177,698 Shares of DoorDash, Inc. (NASDAQ:DASH)

Assenagon Asset Management S.A. trimmed its holdings in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 87.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,642 shares of the company's stock after selling 177,698 shares during the period. Assenagon Asset Management S.A.'s holdings in DoorDash were worth $4,504,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DASH. Pittenger & Anderson Inc. purchased a new position in shares of DoorDash during the 4th quarter valued at $29,000. Denver PWM LLC bought a new stake in DoorDash in the 4th quarter valued at about $30,000. IFP Advisors Inc lifted its holdings in DoorDash by 31.8% during the fourth quarter. IFP Advisors Inc now owns 224 shares of the company's stock valued at $37,000 after purchasing an additional 54 shares during the last quarter. Rothschild Investment LLC boosted its position in DoorDash by 1,452.9% during the first quarter. Rothschild Investment LLC now owns 264 shares of the company's stock worth $48,000 after purchasing an additional 247 shares during the period. Finally, Larson Financial Group LLC boosted its position in DoorDash by 695.6% during the fourth quarter. Larson Financial Group LLC now owns 358 shares of the company's stock worth $60,000 after purchasing an additional 313 shares during the period. 90.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at DoorDash

In other news, insider Keith Yandell sold 5,410 shares of the business's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $204.53, for a total transaction of $1,106,507.30. Following the completion of the sale, the insider now directly owns 104,922 shares of the company's stock, valued at approximately $21,459,696.66. The trade was a 4.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andy Fang sold 30,000 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $217.52, for a total transaction of $6,525,600.00. Following the completion of the sale, the director now directly owns 22,545 shares of the company's stock, valued at approximately $4,903,988.40. This trade represents a 57.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 298,030 shares of company stock worth $59,433,406 in the last quarter. 5.83% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

DASH has been the topic of a number of recent research reports. UBS Group dropped their price target on shares of DoorDash from $197.00 to $196.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. DA Davidson boosted their target price on shares of DoorDash from $150.00 to $190.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Bank of America raised their price target on DoorDash from $230.00 to $245.00 and gave the stock a "buy" rating in a report on Thursday, June 12th. JPMorgan Chase & Co. decreased their price objective on DoorDash from $205.00 to $175.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of DoorDash in a report on Tuesday, April 29th. Eleven investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $210.21.

DoorDash Price Performance

Shares of DoorDash stock traded down $2.34 during trading on Tuesday, hitting $219.39. The stock had a trading volume of 3,155,376 shares, compared to its average volume of 4,208,321. DoorDash, Inc. has a 12 month low of $99.32 and a 12 month high of $223.29. The firm's fifty day simple moving average is $197.63 and its 200-day simple moving average is $188.20. The stock has a market cap of $92.96 billion, a PE ratio of 287.96 and a beta of 1.67.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.05. DoorDash had a net margin of 3.02% and a return on equity of 4.39%. The business had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter last year, the firm earned ($0.06) earnings per share. The firm's quarterly revenue was up 20.7% compared to the same quarter last year. Analysts expect that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

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.