DoorDash, Inc. $DASH Shares Sold by KBC Group NV

Key Points

• KBC Group NV sharply reduced its DoorDash stake by 78.3% in the first quarter, selling 229,131 shares and ending with 63,333 shares worth about $9.5 million.
• DoorDash remains widely held by institutions, with 90.64% of shares owned by hedge funds and other institutional investors, while analysts still lean positive with an average rating of “Moderate Buy” and a consensus price target of $252.89.
• The stock was trading down 5.5% at $177.73, and the company recently reported quarterly EPS of $0.42, beating estimates even though revenue of $4.04 billion came in below expectations.

KBC Group NV cut its stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 78.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 63,333 shares of the company's stock after selling 229,131 shares during the quarter. KBC Group NV's holdings in DoorDash were worth $9,510,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of DoorDash in the fourth quarter valued at $1,093,650,000. Wellington Management Group LLP lifted its stake in shares of DoorDash by 593.1% during the fourth quarter. Wellington Management Group LLP now owns 5,481,693 shares of the company's stock valued at $1,241,494,000 after buying an additional 4,690,744 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of DoorDash by 32.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,958,114 shares of the company's stock worth $3,161,234,000 after purchasing an additional 3,447,754 shares during the period. Coatue Management LLC lifted its position in DoorDash by 77.8% during the fourth quarter. Coatue Management LLC now owns 4,365,365 shares of the company's stock worth $988,668,000 after buying an additional 1,910,488 shares during the period. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of DoorDash in the fourth quarter worth approximately $372,128,000. 90.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on DASH. Stifel Nicolaus reduced their target price on DoorDash from $215.00 to $185.00 and set a "hold" rating on the stock in a report on Monday, April 13th. Citigroup restated a "market outperform" rating on shares of DoorDash in a research note on Monday, June 22nd. Susquehanna reduced their price target on DoorDash from $250.00 to $225.00 and set a "positive" rating for the company in a report on Friday, May 8th. Needham & Company LLC reissued a "buy" rating and set a $265.00 price objective on shares of DoorDash in a report on Thursday, May 7th. Finally, Guggenheim reiterated a "buy" rating and issued a $255.00 target price on shares of DoorDash in a research report on Tuesday, June 23rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $252.89.

DoorDash Trading Down 5.5%

DoorDash stock opened at $177.73 on Thursday. The firm has a 50 day simple moving average of $171.62 and a 200-day simple moving average of $176.41. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.43 and a quick ratio of 1.43. The stock has a market capitalization of $77.44 billion, a PE ratio of 84.63 and a beta of 1.78. DoorDash, Inc. has a 12-month low of $143.30 and a 12-month high of $285.50.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.06. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The business had revenue of $4.04 billion during the quarter, compared to analysts' expectations of $4.15 billion. During the same quarter last year, the business posted $0.44 earnings per share. The company's quarterly revenue was up 33.1% on a year-over-year basis. As a group, equities research analysts expect that DoorDash, Inc. will post 2.39 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Prabir Adarkar sold 21,739 shares of the business's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $155.25, for a total transaction of $3,374,979.75. Following the sale, the chief operating officer directly owned 959,076 shares of the company's stock, valued at $148,896,549. The trade was a 2.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Andy Fang sold 5,000 shares of DoorDash stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $180.00, for a total value of $900,000.00. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 74,927 shares of company stock worth $13,241,532. Corporate insiders own 5.83% of the company's stock.

DoorDash Company 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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