DoorDash, Inc. (NASDAQ:DASH) Shares Sold by Forum Financial Management LP

Forum Financial Management LP reduced its position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 33.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,283 shares of the company's stock after selling 1,158 shares during the period. Forum Financial Management LP's holdings in DoorDash were worth $417,000 at the end of the most recent quarter.

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

Insider Activity at DoorDash

In other news, COO Prabir Adarkar sold 62,267 shares of the company's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $202.67, for a total transaction of $12,619,652.89. Following the transaction, the chief operating officer owned 942,554 shares in the company, valued at $191,027,419.18. This represents a 6.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $240.69, for a total value of $10,929,732.90. Following the transaction, the director owned 26,070 shares of the company's stock, valued at $6,274,788.30. The trade was a 63.53% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 463,198 shares of company stock worth $102,674,831. 5.83% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on DASH. Benchmark upped their target price on shares of DoorDash from $225.00 to $260.00 and gave the stock a "buy" rating in a research report on Thursday. Citigroup reissued an "outperform" rating on shares of DoorDash in a research report on Thursday, June 12th. Wall Street Zen downgraded shares of DoorDash from a "buy" rating to a "hold" rating in a research report on Friday. BTIG Research increased their price objective on shares of DoorDash from $225.00 to $265.00 and gave the company a "buy" rating in a research report on Tuesday, July 1st. Finally, BMO Capital Markets reissued an "outperform" rating on shares of DoorDash in a research report on Tuesday, April 29th. Twelve analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $226.97.

DoorDash Stock Performance

NASDAQ DASH traded up $4.15 on Friday, hitting $239.17. 3,407,442 shares of the stock were exchanged, compared to its average volume of 4,201,299. The firm has a market capitalization of $101.35 billion, a P/E ratio of 310.61 and a beta of 1.70. DoorDash, Inc. has a 52-week low of $99.32 and a 52-week high of $248.74. The stock has a fifty day moving average price of $221.73 and a two-hundred day moving average price of $198.59.

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

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.