DoorDash, Inc. (NASDAQ:DASH) is Steadview Capital Management LLC's 3rd Largest Position

Steadview Capital Management LLC reduced its stake in shares of 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 institutional investor owned 330,115 shares of the company's stock after selling 140,925 shares during the quarter. DoorDash accounts for 13.1% of Steadview Capital Management LLC's holdings, making the stock its 3rd largest position. Steadview Capital Management LLC owned approximately 0.08% of DoorDash worth $60,335,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Brighton Jones LLC increased its position in shares of DoorDash by 24.0% in the fourth quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock valued at $1,566,000 after buying an additional 1,807 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of DoorDash by 36.2% in the fourth quarter. Jones Financial Companies Lllp now owns 1,926 shares of the company's stock worth $323,000 after acquiring an additional 512 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its stake in shares of DoorDash by 66.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,242 shares of the company's stock worth $208,000 after acquiring an additional 495 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of DoorDash in the fourth quarter worth approximately $219,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of DoorDash by 3.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 17,119 shares of the company's stock worth $2,872,000 after acquiring an additional 554 shares during the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DASH has been the topic of a number of research analyst reports. Wedbush reaffirmed an "outperform" rating on shares of DoorDash in a research note on Wednesday, May 7th. DA Davidson lifted their price target on DoorDash from $150.00 to $190.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. JPMorgan Chase & Co. lowered their price target on DoorDash from $205.00 to $175.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Benchmark lifted their price target on DoorDash from $220.00 to $225.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Finally, Roth Capital set a $191.00 price target on DoorDash and gave the stock a "neutral" rating in a research note on Wednesday, May 7th. Ten investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $220.53.

DoorDash Price Performance

Shares of NASDAQ DASH opened at $246.06 on Thursday. The stock's 50-day moving average is $215.21 and its two-hundred day moving average is $195.10. DoorDash, Inc. has a 1-year low of $99.32 and a 1-year high of $248.74. The company has a market cap of $104.27 billion, a price-to-earnings ratio of 319.56 and a beta of 1.70.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.05. DoorDash had a return on equity of 4.39% and a net margin of 3.02%. The company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter in the prior year, the business earned ($0.06) EPS. DoorDash's revenue was up 20.7% on a year-over-year basis. Equities research analysts anticipate that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Insider Activity at DoorDash

In other news, Director Stanley Tang sold 45,410 shares of the company's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $240.69, for a total transaction of $10,929,732.90. Following the completion of the transaction, the director directly owned 26,070 shares of the company's stock, valued at approximately $6,274,788.30. This represents a 63.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Ravi Inukonda sold 20,000 shares of the company's stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $247.00, for a total value of $4,940,000.00. Following the transaction, the chief financial officer directly owned 245,530 shares of the company's stock, valued at approximately $60,645,910. This represents a 7.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 427,781 shares of company stock worth $94,277,848 over the last quarter. 5.83% of the stock is currently owned by insiders.

DoorDash Company 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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