DoorDash, Inc. $DASH Stake Cut by Diversified Trust Co

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

A number of other large investors have also modified their holdings of the business. Brighton Jones LLC grew its holdings in shares of DoorDash by 24.0% in the fourth quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock valued at $1,566,000 after purchasing an additional 1,807 shares during the period. State of Wyoming purchased a new stake in shares of DoorDash in the fourth quarter valued at about $187,000. Vise Technologies Inc. grew its holdings in shares of DoorDash by 23.5% in the fourth quarter. Vise Technologies Inc. now owns 2,041 shares of the company's stock valued at $342,000 after purchasing an additional 388 shares during the period. GF Fund Management CO. LTD. purchased a new stake in shares of DoorDash in the fourth quarter valued at about $12,367,000. Finally, Cache Advisors LLC purchased a new position in DoorDash during the fourth quarter worth about $1,947,000. Hedge funds and other institutional investors own 90.64% of the company's stock.

Insider Activity at DoorDash

In other DoorDash news, Director Andy Fang sold 50,000 shares of the stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $275.74, for a total value of $13,787,000.00. Following the completion of the sale, the director owned 22,545 shares of the company's stock, valued at $6,216,558.30. This trade represents a 68.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Tony Xu sold 291,403 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $238.19, for a total transaction of $69,409,280.57. Following the sale, the chief executive officer directly owned 229,047 shares of the company's stock, valued at $54,556,704.93. The trade was a 55.99% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,020,055 shares of company stock valued at $250,222,491. Insiders own 5.83% of the company's stock.

DoorDash Price Performance

Shares of DoorDash stock traded up $3.18 on Tuesday, hitting $265.93. The company's stock had a trading volume of 1,121,569 shares, compared to its average volume of 4,531,708. DoorDash, Inc. has a 52-week low of $138.59 and a 52-week high of $278.15. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.30. The firm has a fifty day moving average price of $250.63 and a 200-day moving average price of $219.23. The company has a market capitalization of $113.61 billion, a P/E ratio of 148.04 and a beta of 1.70.

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

Analyst Upgrades and Downgrades

DASH has been the subject of several research analyst reports. Sanford C. Bernstein increased their target price on shares of DoorDash from $210.00 to $265.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. BMO Capital Markets raised their target price on shares of DoorDash from $238.00 to $288.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Morgan Stanley raised their target price on shares of DoorDash from $275.00 to $300.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Oppenheimer raised their target price on shares of DoorDash from $280.00 to $310.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Finally, Benchmark raised their target price on shares of DoorDash from $260.00 to $315.00 and gave the company a "buy" rating in a report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and thirteen have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $268.76.

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.