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

Steadview Capital Management LLC lessened its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 29.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 330,115 shares of the company's stock after selling 140,925 shares during the period. DoorDash accounts for 13.1% of Steadview Capital Management LLC's portfolio, making the stock its 3rd largest holding. Steadview Capital Management LLC owned about 0.08% of DoorDash worth $60,335,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. ORG Partners LLC increased its holdings in DoorDash by 404.0% in the first quarter. ORG Partners LLC now owns 252 shares of the company's stock valued at $46,000 after purchasing an additional 202 shares during the last quarter. Rothschild Investment LLC increased its holdings in DoorDash by 1,452.9% in the first quarter. Rothschild Investment LLC now owns 264 shares of the company's stock valued at $48,000 after purchasing an additional 247 shares during the last quarter. Mizuho Securities Co. Ltd. increased its holdings in DoorDash by 150.0% in the first quarter. Mizuho Securities Co. Ltd. now owns 300 shares of the company's stock valued at $55,000 after purchasing an additional 180 shares during the last quarter. Washington Trust Advisors Inc. bought a new stake in DoorDash in the first quarter valued at about $56,000. Finally, Larson Financial Group LLC increased its holdings in DoorDash by 695.6% in the fourth quarter. Larson Financial Group LLC now owns 358 shares of the company's stock valued at $60,000 after purchasing an additional 313 shares during the last quarter. Institutional investors own 90.64% of the company's stock.

DoorDash Stock Up 1.2%

DASH traded up $2.84 during midday trading on Friday, hitting $241.08. 1,842,875 shares of the company were exchanged, compared to its average volume of 4,225,209. The firm's 50 day moving average price is $216.05 and its 200-day moving average price is $195.57. DoorDash, Inc. has a 1-year low of $99.32 and a 1-year high of $248.74. The firm has a market capitalization of $102.15 billion, a P/E ratio of 313.18 and a beta of 1.70.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates 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 analyst estimates of $3.10 billion. During the same period in the prior year, the firm earned ($0.06) earnings per share. DoorDash's revenue for the quarter was up 20.7% on a year-over-year basis. On average, sell-side analysts predict that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. Needham & Company LLC lifted their price target on shares of DoorDash from $225.00 to $230.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Stifel Nicolaus set a $198.00 price target on shares of DoorDash and gave the stock a "hold" rating in a research report on Tuesday, June 10th. JPMorgan Chase & Co. reduced their price target on shares of DoorDash from $205.00 to $175.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. DA Davidson increased their target price on DoorDash from $150.00 to $190.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 6th. Finally, Wells Fargo & Company increased their target price on DoorDash from $198.00 to $239.00 and gave the stock an "equal weight" rating in a research note on Monday. 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 stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $220.53.

Insider Activity at DoorDash

In other news, CEO Tony Xu sold 34,167 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $240.66, for a total value of $8,222,630.22. Following the completion of the sale, the chief executive officer owned 520,450 shares of the company's stock, valued at approximately $125,251,497. This represents a 6.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Prabir Adarkar sold 30,000 shares of the business's stock in a transaction on Friday, June 27th. The stock was sold at an average price of $240.47, for a total transaction of $7,214,100.00. Following the completion of the sale, the chief operating officer directly owned 942,554 shares of the company's stock, valued at $226,655,960.38. This represents a 3.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 427,781 shares of company stock worth $94,277,848. 5.83% of the stock is owned by company 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.