Lyell Wealth Management LP Reduces Stock Holdings in DoorDash, Inc. (NASDAQ:DASH)

Key Points

• Lyell Wealth Management LP has decreased its stake in DoorDash, Inc. by 17.8%, selling 2,000 shares for a total holding of 9,267 shares valued at approximately $1.69 million.
• Several institutional investors have significantly increased their holdings in DoorDash, including ORG Partners LLC with a 404% increase, reflecting strong interest and investment activity in the stock.
• Analysts have raised their price targets for DoorDash, with Raymond James Financial setting a new target of $275.00, while the stock currently has a consensus rating of "Moderate Buy".

Lyell Wealth Management LP lessened its position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 17.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,267 shares of the company's stock after selling 2,000 shares during the quarter. Lyell Wealth Management LP's holdings in DoorDash were worth $1,694,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. ORG Partners LLC boosted its holdings in DoorDash by 404.0% in the 1st quarter. ORG Partners LLC now owns 252 shares of the company's stock valued at $46,000 after purchasing an additional 202 shares in 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 buying an additional 247 shares in the last quarter. Mizuho Securities Co. Ltd. lifted its holdings in shares of 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 in the last quarter. Washington Trust Advisors Inc. purchased a new stake in shares of DoorDash in the first quarter valued at about $56,000. Finally, Cromwell Holdings LLC purchased a new stake in shares of DoorDash in the first quarter valued at about $58,000. Hedge funds and other institutional investors own 90.64% of the company's stock.

Insider Buying and Selling at DoorDash

In other DoorDash news, CEO Tony Xu sold 44,244 shares of DoorDash stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $220.71, for a total transaction of $9,765,093.24. Following the transaction, the chief executive officer owned 520,450 shares of the company's stock, valued at $114,868,519.50. The trade was a 7.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $240.69, for a total transaction of $10,929,732.90. Following the transaction, the director directly owned 26,070 shares in the company, valued at $6,274,788.30. This represents a 63.53% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 508,127 shares of company stock worth $115,087,539. 5.83% of the stock is owned by corporate insiders.

DoorDash Stock Performance

Shares of NASDAQ:DASH traded down $1.90 during trading on Friday, reaching $248.35. 2,945,040 shares of the stock traded hands, compared to its average volume of 2,699,196. The stock has a 50-day moving average of $230.64 and a two-hundred day moving average of $203.47. DoorDash, Inc. has a 52-week low of $106.21 and a 52-week high of $252.87. The stock has a market cap of $105.24 billion, a P/E ratio of 322.54 and a beta of 1.70.

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. DoorDash had a net margin of 3.02% and a return on equity of 4.39%. The firm had revenue of $3.03 billion during the quarter, compared to analysts' expectations of $3.10 billion. During the same period in the previous year, the company earned ($0.06) earnings per share. The firm's quarterly revenue was up 20.7% on a year-over-year basis. Sell-side analysts expect that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Raymond James Financial lifted their price target on shares of DoorDash from $260.00 to $275.00 and gave the stock a "strong-buy" rating in a report on Monday, July 21st. BTIG Research boosted their target price on DoorDash from $225.00 to $265.00 and gave the stock a "buy" rating in a report on Tuesday, July 1st. Royal Bank Of Canada reiterated an "outperform" rating and set a $230.00 target price on shares of DoorDash in a report on Wednesday, May 7th. Cantor Fitzgerald reiterated an "overweight" rating and set a $260.00 target price (up from $210.00) on shares of DoorDash in a report on Wednesday, June 25th. Finally, KeyCorp raised their target price on DoorDash from $235.00 to $295.00 and gave the company an "overweight" rating in a report on Monday, July 14th. Eleven equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, DoorDash currently has an average rating of "Moderate Buy" and a consensus target price of $235.56.

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.