Calamos Advisors LLC Sells 29,109 Shares of DoorDash, Inc. $DASH

Key Points

• Calamos Advisors LLC trimmed its DoorDash stake by 14.5%, selling 29,109 shares and leaving 171,886 shares valued at about $38.93 million.
• Company insiders have been selling recently: Director Stanley Tang sold 45,410 shares (~$9.49M) and COO Prabir Adarkar sold 10,000 shares (~$1.88M), with insiders disposing of 89,406 shares (~$16.64M) in the past 90 days while still owning 5.83% of the stock.
• DoorDash missed quarterly estimates (EPS $0.48 vs. $0.58 expected; revenue $3.96B vs. $3.98B expected) but retains a market cap of $76.8B and a consensus “Moderate Buy” from analysts with an average price target of $261.32.

Calamos Advisors LLC cut its holdings in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 14.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 171,886 shares of the company's stock after selling 29,109 shares during the period. Calamos Advisors LLC's holdings in DoorDash were worth $38,929,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of DASH. Vanguard Group Inc. boosted its position in shares of DoorDash by 3.7% during the third quarter. Vanguard Group Inc. now owns 42,712,908 shares of the company's stock valued at $11,617,484,000 after buying an additional 1,522,823 shares during the last quarter. Scge Management L.P. purchased a new stake in shares of DoorDash during the second quarter valued at $267,463,000. Invesco Ltd. boosted its position in shares of DoorDash by 18.2% during the third quarter. Invesco Ltd. now owns 6,355,628 shares of the company's stock valued at $1,728,667,000 after buying an additional 980,148 shares during the last quarter. Ninety One UK Ltd purchased a new stake in shares of DoorDash during the third quarter valued at $259,154,000. Finally, State Street Corp boosted its position in shares of DoorDash by 6.3% during the third quarter. State Street Corp now owns 15,296,624 shares of the company's stock valued at $4,160,529,000 after buying an additional 909,125 shares during the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $209.01, for a total transaction of $9,491,144.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Prabir Adarkar sold 10,000 shares of DoorDash stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $188.34, for a total value of $1,883,400.00. Following the transaction, the chief operating officer directly owned 843,678 shares in the company, valued at approximately $158,898,314.52. The trade was a 1.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 89,406 shares of company stock valued at $16,639,624 in the last ninety days. Corporate insiders own 5.83% of the company's stock.

DoorDash Trading Down 0.1%

Shares of NASDAQ:DASH opened at $176.78 on Friday. The stock has a market capitalization of $76.80 billion, a price-to-earnings ratio of 83.39 and a beta of 1.93. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.41 and a current ratio of 1.41. The stock's 50-day simple moving average is $166.77 and its two-hundred day simple moving average is $202.99. DoorDash, Inc. has a 52-week low of $143.30 and a 52-week high of $285.50.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its earnings results on Wednesday, February 18th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.10). DoorDash had a return on equity of 10.15% and a net margin of 6.82%.The firm had revenue of $3.96 billion during the quarter, compared to analysts' expectations of $3.98 billion. During the same period in the previous year, the business posted $0.33 earnings per share. The company's revenue for the quarter was up 37.7% on a year-over-year basis. Analysts expect that DoorDash, Inc. will post 2.51 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on DASH. Guggenheim dropped their price objective on DoorDash from $275.00 to $255.00 and set a "buy" rating on the stock in a research report on Thursday, February 19th. Bank of America increased their price objective on DoorDash from $260.00 to $272.00 and gave the company a "buy" rating in a research report on Thursday, February 19th. BTIG Research dropped their target price on DoorDash from $315.00 to $280.00 and set a "buy" rating on the stock in a research report on Friday, April 10th. Piper Sandler reissued a "neutral" rating and issued a $220.00 target price (down from $230.00) on shares of DoorDash in a research report on Thursday, February 19th. Finally, Evercore set a $300.00 target price on DoorDash in a research report on Thursday, February 19th. One analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, DoorDash presently has an average rating of "Moderate Buy" and an average price target of $261.32.

About DoorDash

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company's core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.

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