DoorDash, Inc. $DASH Shares Sold by Woodline Partners LP

Key Points

• Woodline Partners LP reduced its stake in DoorDash by 18.6%, owning 192,150 shares valued at approximately $35.1 million after selling 43,817 shares.
• Analysts have issued positive ratings for DoorDash, with Raymond James setting a new target price of $325, while the average price target is $264.65, indicating strong investor confidence.
• DoorDash's recent earnings report showed an EPS of $0.65, exceeding estimates, with revenues up 24.9% year-over-year, amounting to $3.28 billion.

Woodline Partners LP cut its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 18.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 192,150 shares of the company's stock after selling 43,817 shares during the period. Woodline Partners LP's holdings in DoorDash were worth $35,119,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of DASH. Vanguard Group Inc. boosted its position in shares of DoorDash by 25.8% in the first quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company's stock worth $7,200,642,000 after acquiring an additional 8,073,882 shares during the last quarter. AQR Capital Management LLC lifted its position in DoorDash by 442.5% during the first quarter. AQR Capital Management LLC now owns 1,836,122 shares of the company's stock valued at $321,799,000 after buying an additional 1,497,636 shares in the last quarter. Invesco Ltd. lifted its position in DoorDash by 41.9% during the first quarter. Invesco Ltd. now owns 4,799,851 shares of the company's stock valued at $877,269,000 after buying an additional 1,416,194 shares in the last quarter. Nuveen LLC acquired a new position in DoorDash during the first quarter valued at approximately $211,415,000. Finally, Deutsche Bank AG lifted its position in DoorDash by 111.3% during the first quarter. Deutsche Bank AG now owns 2,009,699 shares of the company's stock valued at $367,313,000 after buying an additional 1,058,731 shares in the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on DASH. Royal Bank Of Canada lifted their price target on shares of DoorDash from $230.00 to $300.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Oppenheimer lifted their price target on shares of DoorDash from $280.00 to $310.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. Piper Sandler lifted their price target on shares of DoorDash from $210.00 to $290.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. UBS Group lifted their price target on shares of DoorDash from $260.00 to $280.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Finally, Wells Fargo & Company lifted their price objective on shares of DoorDash from $280.00 to $306.00 and gave the company an "equal weight" rating in a research note on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and thirteen have issued a Hold rating to the company's stock. According to MarketBeat, DoorDash currently has a consensus rating of "Moderate Buy" and an average price target of $266.71.

DoorDash Stock Down 0.8%

Shares of NASDAQ:DASH traded down $2.21 during midday trading on Friday, reaching $257.98. The company had a trading volume of 2,215,886 shares, compared to its average volume of 2,845,738. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.07 and a quick ratio of 2.07. The stock's fifty day moving average price is $248.21 and its 200-day moving average price is $215.94. The stock has a market capitalization of $110.21 billion, a P/E ratio of 143.32 and a beta of 1.70. DoorDash, Inc. has a one year low of $126.90 and a one year high of $278.15.

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

Insiders Place Their Bets

In related news, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $243.31, for a total value of $11,048,707.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Tia Sherringham sold 2,924 shares of DoorDash stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $250.00, for a total transaction of $731,000.00. Following the completion of the sale, the general counsel owned 112,782 shares of the company's stock, valued at approximately $28,195,500. This trade represents a 2.53% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,019,042 shares of company stock valued at $248,122,219. 5.83% of the stock is owned by insiders.

About DoorDash

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.