DoorDash, Inc. $DASH Shares Sold by Lyell Wealth Management LP

Key Points

• Lyell Wealth Management LP reduced its holdings in DoorDash, Inc. by 37.4%, now owning 5,800 shares, valued at approximately $1.43 million.
• DoorDash reported a 24.9% increase in revenue year-over-year with earnings per share of $0.65, surpassing estimates by $0.23.
• Institutional investors hold approximately 90.64% of DoorDash's shares, indicating a strong presence of hedge fund investments in the company.

Lyell Wealth Management LP lowered its holdings in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 37.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,800 shares of the company's stock after selling 3,467 shares during the quarter. Lyell Wealth Management LP's holdings in DoorDash were worth $1,430,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Calamos Wealth Management LLC lifted its holdings in shares of DoorDash by 1.2% in the 2nd quarter. Calamos Wealth Management LLC now owns 65,178 shares of the company's stock valued at $16,067,000 after buying an additional 746 shares during the period. Chicago Partners Investment Group LLC raised its position in DoorDash by 47.0% during the second quarter. Chicago Partners Investment Group LLC now owns 4,027 shares of the company's stock valued at $969,000 after acquiring an additional 1,288 shares in the last quarter. Quotient Wealth Partners LLC lifted its holdings in DoorDash by 5.1% in the second quarter. Quotient Wealth Partners LLC now owns 1,489 shares of the company's stock valued at $367,000 after acquiring an additional 72 shares during the period. Carmel Capital Partners LLC boosted its position in DoorDash by 12.1% in the 2nd quarter. Carmel Capital Partners LLC now owns 3,558 shares of the company's stock worth $877,000 after purchasing an additional 385 shares in the last quarter. Finally, Chevy Chase Trust Holdings LLC grew its stake in shares of DoorDash by 1.8% during the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 181,099 shares of the company's stock worth $44,643,000 after purchasing an additional 3,176 shares during the period. 90.64% of the stock is owned by institutional investors and hedge funds.

DoorDash Stock Performance

NASDAQ DASH opened at $263.06 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.07 and a quick ratio of 2.07. DoorDash, Inc. has a 1-year low of $150.26 and a 1-year high of $285.50. The company has a market cap of $112.38 billion, a PE ratio of 146.15 and a beta of 1.71. The stock's 50 day simple moving average is $259.31 and its 200-day simple moving average is $230.24.

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

Analyst Ratings Changes

DASH has been the topic of a number of recent analyst reports. Sanford C. Bernstein increased their price target on shares of DoorDash from $210.00 to $265.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. Piper Sandler raised their target price on DoorDash from $210.00 to $290.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. KeyCorp restated an "overweight" rating and issued a $325.00 price target (up previously from $295.00) on shares of DoorDash in a research note on Thursday, August 7th. DA Davidson upped their price target on DoorDash from $190.00 to $260.00 and gave the stock a "neutral" rating in a report on Wednesday, September 10th. Finally, Guggenheim raised DoorDash to a "strong-buy" rating in a report on Wednesday, October 15th. Four research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $282.91.

Insiders Place Their Bets

In related news, Director Shona L. Brown sold 1,250 shares of the stock in a transaction that occurred on Thursday, October 9th. The stock was sold at an average price of $277.47, for a total value of $346,837.50. Following the completion of the sale, the director owned 37,252 shares of the company's stock, valued at approximately $10,336,312.44. This trade represents a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stanley Tang sold 45,410 shares of the firm's stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $268.23, for a total value of $12,180,324.30. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 993,105 shares of company stock valued at $248,566,566. Insiders own 5.83% of the company's stock.

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.

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