Steadview Capital Management LLC Decreases Position in DoorDash, Inc. (NASDAQ:DASH)

Steadview Capital Management LLC decreased its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 29.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 330,115 shares of the company's stock after selling 140,925 shares during the period. DoorDash accounts for about 13.1% of Steadview Capital Management LLC's holdings, making the stock its 3rd biggest holding. Steadview Capital Management LLC owned 0.08% of DoorDash worth $60,335,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in DoorDash by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 31,323,404 shares of the company's stock worth $5,254,501,000 after purchasing an additional 317,502 shares in the last quarter. Capital World Investors increased its stake in shares of DoorDash by 26.4% in the 4th quarter. Capital World Investors now owns 12,153,265 shares of the company's stock valued at $2,038,712,000 after acquiring an additional 2,538,160 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of DoorDash by 25.0% in the 4th quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company's stock valued at $796,781,000 after acquiring an additional 949,414 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of DoorDash by 67.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company's stock valued at $780,858,000 after acquiring an additional 1,869,866 shares during the period. Finally, Geode Capital Management LLC boosted its stake in DoorDash by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 4,558,821 shares of the company's stock worth $763,198,000 after acquiring an additional 86,667 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors.

Insider Activity at DoorDash

In other news, CFO Ravi Inukonda sold 20,000 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $247.00, for a total value of $4,940,000.00. Following the completion of the transaction, the chief financial officer directly owned 245,530 shares in the company, valued at approximately $60,645,910. This trade represents a 7.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andy Fang sold 30,000 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $240.66, for a total transaction of $7,219,800.00. Following the sale, the director directly owned 22,545 shares in the company, valued at $5,425,679.70. This trade represents a 57.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 427,781 shares of company stock worth $94,277,848 in the last 90 days. 5.83% of the stock is owned by company insiders.

DoorDash Stock Performance

NASDAQ DASH traded down $7.82 during trading on Thursday, hitting $238.24. 3,252,467 shares of the company's stock traded hands, compared to its average volume of 4,234,481. The stock has a market capitalization of $100.95 billion, a price-to-earnings ratio of 319.56 and a beta of 1.70. DoorDash, Inc. has a 12-month low of $99.32 and a 12-month high of $248.74. The business has a 50 day moving average of $215.21 and a 200-day moving average of $195.10.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.05. DoorDash had a net margin of 3.02% and a return on equity of 4.39%. The company had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same quarter in the previous year, the firm posted ($0.06) earnings per share. The company's quarterly revenue was up 20.7% compared to the same quarter last year. On average, analysts expect that DoorDash, Inc. will post 2.22 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of DoorDash from $205.00 to $175.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Roth Capital set a $191.00 target price on DoorDash and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Wedbush reiterated an "outperform" rating on shares of DoorDash in a report on Wednesday, May 7th. Wells Fargo & Company raised their price objective on DoorDash from $198.00 to $239.00 and gave the company an "equal weight" rating in a research note on Monday. Finally, JMP Securities upped their target price on DoorDash from $225.00 to $235.00 and gave the stock a "market outperform" rating in a research report on Thursday, June 12th. Ten equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $220.53.

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.