BloombergSen Inc. Sells 2,378 Shares of DoorDash, Inc. (NASDAQ:DASH)

Key Points

• BloombergSen Inc. reduced its stake in DoorDash by 23.9%, selling 2,378 shares during the first quarter, leaving them with roughly 7,562 shares valued at $1,382,000.
• DoorDash experienced a 2.6% increase in stock price recently, reaching $249.92, with a market cap of $105.90 billion.
• Insiders, including the CFO and CEO, sold a significant amount of shares, totaling 441,773 shares worth $98,711,043 in the last quarter, indicating a 7.53% and 7.84% decrease in their respective holdings.

BloombergSen Inc. cut its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 23.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,562 shares of the company's stock after selling 2,378 shares during the period. DoorDash accounts for about 0.1% of BloombergSen Inc.'s investment portfolio, making the stock its 20th biggest position. BloombergSen Inc.'s holdings in DoorDash were worth $1,382,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. ORG Partners LLC grew its position in shares of DoorDash by 404.0% during the 1st quarter. ORG Partners LLC now owns 252 shares of the company's stock worth $46,000 after buying an additional 202 shares during the period. Rothschild Investment LLC grew its position in shares of DoorDash by 1,452.9% during the 1st quarter. Rothschild Investment LLC now owns 264 shares of the company's stock worth $48,000 after buying an additional 247 shares during the period. Mizuho Securities Co. Ltd. grew its position in shares of DoorDash by 150.0% during the 1st quarter. Mizuho Securities Co. Ltd. now owns 300 shares of the company's stock worth $55,000 after buying an additional 180 shares during the period. Washington Trust Advisors Inc. acquired a new stake in shares of DoorDash during the 1st quarter worth approximately $56,000. Finally, Cromwell Holdings LLC acquired a new stake in shares of DoorDash during the 1st quarter worth approximately $58,000. 90.64% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on DASH. Wells Fargo & Company boosted their price objective on shares of DoorDash from $198.00 to $239.00 and gave the company an "equal weight" rating in a report on Monday, July 7th. BMO Capital Markets restated an "outperform" rating on shares of DoorDash in a report on Tuesday, April 29th. JMP Securities boosted their price objective on shares of DoorDash from $235.00 to $250.00 and gave the company a "market outperform" rating in a report on Tuesday, July 15th. BTIG Research boosted their price objective on shares of DoorDash from $225.00 to $265.00 and gave the company a "buy" rating in a report on Tuesday, July 1st. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $230.00 price objective on shares of DoorDash in a report on Wednesday, May 7th. Eleven research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, DoorDash currently has a consensus rating of "Moderate Buy" and a consensus price target of $232.12.

Insider Buying and Selling

In related news, Director Stanley Tang sold 45,410 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $240.69, for a total value of $10,929,732.90. Following the transaction, the director directly owned 26,070 shares in the company, valued at approximately $6,274,788.30. This represents a 63.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Tony Xu sold 44,244 shares of the company's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $220.71, for a total value of $9,765,093.24. Following the completion of the sale, the chief executive officer directly owned 520,450 shares of the company's stock, valued at approximately $114,868,519.50. This represents a 7.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold 441,773 shares of company stock valued at $98,711,043 in the last 90 days. 5.83% of the stock is owned by company insiders.

DoorDash Stock Performance

NASDAQ DASH traded up $6.23 during trading on Friday, hitting $249.92. 3,051,438 shares of the company's stock traded hands, compared to its average volume of 3,405,321. The stock has a market capitalization of $105.90 billion, a price-to-earnings ratio of 324.58 and a beta of 1.70. DoorDash, Inc. has a 12-month low of $102.81 and a 12-month high of $250.23. The business has a 50 day moving average of $226.30 and a 200-day moving average of $201.03.

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