Calamos Wealth Management LLC Sells 12,477 Shares of DoorDash, Inc. (NASDAQ:DASH)

Calamos Wealth Management LLC lessened its position in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 16.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 64,432 shares of the company's stock after selling 12,477 shares during the period. Calamos Wealth Management LLC's holdings in DoorDash were worth $11,776,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in DASH. Norges Bank bought a new position in shares of DoorDash in the fourth quarter worth approximately $597,443,000. Capital World Investors raised its holdings in shares of DoorDash by 26.4% during the fourth quarter. Capital World Investors now owns 12,153,265 shares of the company's stock valued at $2,038,712,000 after purchasing an additional 2,538,160 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of DoorDash by 67.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company's stock valued at $780,858,000 after purchasing an additional 1,869,866 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of DoorDash by 25.0% during the fourth quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company's stock valued at $796,781,000 after purchasing an additional 949,414 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of DoorDash during the fourth quarter valued at approximately $146,094,000. Institutional investors own 90.64% of the company's stock.

DoorDash Stock Performance

Shares of NASDAQ DASH traded down $0.05 during midday trading on Friday, reaching $238.76. The stock had a trading volume of 1,699,692 shares, compared to its average volume of 4,243,732. The stock has a 50-day moving average of $211.96 and a 200-day moving average of $193.70. The company has a market capitalization of $101.17 billion, a price-to-earnings ratio of 310.08 and a beta of 1.70. DoorDash, Inc. has a 12-month low of $99.32 and a 12-month high of $248.74.

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

Insider Activity

In related news, Director Andy Fang sold 30,000 shares of the company's stock in a transaction on 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 transaction, the director owned 22,545 shares in the company, valued at approximately $4,903,988.40. This represents a 57.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stanley Tang sold 45,410 shares of the company's stock in a transaction on 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 owned 26,070 shares of the company's stock, valued at approximately $6,274,788.30. This represents a 63.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 427,781 shares of company stock valued at $94,277,848 in the last quarter. Company insiders own 5.83% of the company's stock.

Wall Street Analyst Weigh In

DASH has been the subject of several research reports. Morgan Stanley decreased their price objective on shares of DoorDash from $245.00 to $210.00 and set an "overweight" rating for the company in a report on Thursday, April 17th. Roth Capital set a $191.00 price objective on shares of DoorDash and gave the company a "neutral" rating in a report on Wednesday, May 7th. Wells Fargo & Company decreased their price objective on shares of DoorDash from $201.00 to $198.00 and set an "equal weight" rating for the company in a report on Wednesday, May 7th. DA Davidson boosted their price objective on shares of DoorDash from $150.00 to $190.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Finally, Wall Street Zen raised shares of DoorDash from a "hold" rating to a "buy" rating in a report on Saturday, June 7th. Ten research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, DoorDash currently has an average rating of "Moderate Buy" and an average price target of $219.32.

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.