Diversified Trust Co Cuts Stock Position in DoorDash, Inc. $DASH

Key Points

• Diversified Trust Co has reduced its stake in DoorDash by 27.1%, now holding 10,876 shares valued at approximately $2.68 million.
• DoorDash reported strong earnings with an EPS of $0.65 for the last quarter, surpassing analyst expectations by $0.23.
• A number of analysts have increased their price targets for DoorDash, with Truist Financial raising theirs from $272 to $326, maintaining a "buy" rating.

Diversified Trust Co cut its holdings in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 27.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,876 shares of the company's stock after selling 4,035 shares during the period. Diversified Trust Co's holdings in DoorDash were worth $2,681,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of DASH. Brighton Jones LLC increased its stake in DoorDash by 24.0% during the fourth quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock worth $1,566,000 after purchasing an additional 1,807 shares during the period. State of Wyoming acquired a new position in shares of DoorDash during the fourth quarter worth about $187,000. Vise Technologies Inc. grew its position in shares of DoorDash by 23.5% during the fourth quarter. Vise Technologies Inc. now owns 2,041 shares of the company's stock worth $342,000 after buying an additional 388 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of DoorDash during the fourth quarter worth about $12,367,000. Finally, Cache Advisors LLC acquired a new position in shares of DoorDash during the fourth quarter worth about $1,947,000. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

DoorDash Trading Down 1.0%

NASDAQ:DASH opened at $265.29 on Friday. The stock has a fifty day moving average price of $250.23 and a two-hundred day moving average price of $218.37. The stock has a market capitalization of $113.33 billion, a price-to-earnings ratio of 147.38 and a beta of 1.70. 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, Inc. has a 1 year low of $136.53 and a 1 year high of $278.15.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.23. The firm had revenue of $3.28 billion during the quarter, compared to analysts' expectations of $3.16 billion. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.DoorDash's revenue was up 24.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.38) earnings per share. As a group, sell-side analysts anticipate that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Truist Financial boosted their price objective on DoorDash from $272.00 to $326.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Raymond James Financial reissued a "strong-buy" rating and set a $325.00 price objective (up from $275.00) on shares of DoorDash in a research report on Thursday, August 7th. Evercore ISI reissued an "outperform" rating and set a $360.00 price objective (up from $240.00) on shares of DoorDash in a research report on Friday, August 8th. Royal Bank Of Canada boosted their price objective on DoorDash from $230.00 to $300.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Finally, Citigroup reaffirmed an "outperform" rating on shares of DoorDash in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and thirteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, DoorDash presently has an average rating of "Moderate Buy" and a consensus target price of $268.76.

Insider Buying and Selling

In other DoorDash news, General Counsel Tia Sherringham sold 2,924 shares of the company's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $250.00, for a total value of $731,000.00. Following the sale, the general counsel owned 112,782 shares of the company's stock, valued at approximately $28,195,500. This represents a 2.53% 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 51,250 shares of the company's stock in a transaction on Monday, September 15th. The shares were sold at an average price of $258.26, for a total value of $13,235,825.00. Following the completion of the sale, the chief executive officer directly owned 1,500 shares in the company, valued at $387,390. This trade represents a 97.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,026,048 shares of company stock valued at $251,592,950 in the last three months. 5.83% of the stock is owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.