DoorDash, Inc. $DASH Holdings Lessened by Sands Capital Management LLC

Key Points

• Sands Capital cut its stake in DoorDash by 16.0%, selling 768,890 shares and ending the quarter with 4,023,291 shares (about 0.94% of DoorDash, valued at ~$1.094B), making DASH its 10th-largest holding.
• Heavy insider selling: CEO Tony Xu sold 16,667 shares (leaving 1,500 shares, a 91.74% drop) and CFO Ravi Inukonda sold 1,425 shares; insiders sold 204,159 shares (~$45.1M) in the quarter and now own 5.83% of the company.
• DoorDash missed quarterly estimates with EPS of $0.48 versus $0.58 expected and revenue of $3.96B versus $3.98B expected (revenue +37.7% YoY); analysts' consensus is a Moderate Buy with a $262.82 target.

Sands Capital Management LLC decreased its holdings in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 16.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,023,291 shares of the company's stock after selling 768,890 shares during the period. DoorDash accounts for approximately 3.0% of Sands Capital Management LLC's holdings, making the stock its 10th biggest holding. Sands Capital Management LLC owned 0.94% of DoorDash worth $1,094,295,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Physician Wealth Advisors Inc. raised its position in DoorDash by 284.0% during the third quarter. Physician Wealth Advisors Inc. now owns 96 shares of the company's stock valued at $26,000 after purchasing an additional 71 shares during the period. Sound Income Strategies LLC boosted its holdings in shares of DoorDash by 2,760.0% in the 3rd quarter. Sound Income Strategies LLC now owns 143 shares of the company's stock worth $39,000 after purchasing an additional 138 shares during the period. Rossby Financial LCC boosted its holdings in shares of DoorDash by 127.8% in the 3rd quarter. Rossby Financial LCC now owns 164 shares of the company's stock worth $44,000 after purchasing an additional 92 shares during the period. Annis Gardner Whiting Capital Advisors LLC increased its position in shares of DoorDash by 74.3% during the 3rd quarter. Annis Gardner Whiting Capital Advisors LLC now owns 176 shares of the company's stock valued at $48,000 after purchasing an additional 75 shares during the last quarter. Finally, Concord Wealth Partners bought a new position in shares of DoorDash during the 3rd quarter valued at approximately $50,000. Hedge funds and other institutional investors own 90.64% of the company's stock.

Insider Buying and Selling at DoorDash

In other news, CFO Ravi Inukonda sold 1,425 shares of the firm's stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $231.97, for a total transaction of $330,557.25. Following the transaction, the chief financial officer directly owned 184,037 shares of the company's stock, valued at approximately $42,691,062.89. This trade represents a 0.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Tony Xu sold 16,667 shares of DoorDash stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $230.00, for a total transaction of $3,833,410.00. Following the sale, the chief executive officer directly owned 1,500 shares of the company's stock, valued at $345,000. This represents a 91.74% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 204,159 shares of company stock valued at $45,111,536. 5.83% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on DASH shares. Oppenheimer lowered their price target on DoorDash from $280.00 to $235.00 and set an "outperform" rating for the company in a research report on Thursday, February 19th. BMO Capital Markets reiterated an "outperform" rating on shares of DoorDash in a research report on Friday, December 12th. Barclays reduced their target price on shares of DoorDash from $238.00 to $220.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 19th. Guggenheim dropped their price target on shares of DoorDash from $275.00 to $255.00 and set a "buy" rating for the company in a research note on Thursday, February 19th. Finally, Mizuho cut their price target on shares of DoorDash from $320.00 to $255.00 and set an "outperform" rating on the stock in a report on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $262.82.

DoorDash Trading Down 3.8%

NASDAQ DASH opened at $169.93 on Wednesday. The company's 50-day moving average price is $194.30 and its 200-day moving average price is $224.29. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.27. The stock has a market cap of $73.82 billion, a PE ratio of 80.16 and a beta of 1.82. DoorDash, Inc. has a 12 month low of $155.40 and a 12 month high of $285.50.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its quarterly earnings data on Wednesday, February 18th. The company reported $0.48 earnings per share for the quarter, missing analysts' consensus estimates of $0.58 by ($0.10). The company had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.98 billion. DoorDash had a net margin of 6.82% and a return on equity of 10.15%. The company's quarterly revenue was up 37.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.33 EPS. Equities research analysts forecast that DoorDash, Inc. will post 2.22 earnings per share for the current year.

DoorDash Profile

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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