Discovery Value Fund Sells 467,458 Shares of DoorDash, Inc. (NASDAQ:DASH)

Key Points

• Discovery Value Fund reduced its stake in DoorDash, Inc. by 73.5%, owning 168,450 shares after selling 467,458 shares during the first quarter.
• DoorDash's stock received a Moderate Buy consensus rating from analysts, with target prices ranging from $191.00 to $360.00.
• During its latest earnings report, DoorDash reported earnings per share of $0.65, exceeding expectations and showing a 24.9% increase in revenue year-over-year.

Discovery Value Fund cut its stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 73.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 168,450 shares of the company's stock after selling 467,458 shares during the quarter. DoorDash makes up approximately 43.7% of Discovery Value Fund's holdings, making the stock its 2nd biggest holding. Discovery Value Fund's holdings in DoorDash were worth $30,788,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of DASH. Mutual of America Capital Management LLC acquired a new stake in shares of DoorDash during the first quarter worth $7,200,000. Blair William & Co. IL lifted its stake in shares of DoorDash by 12.8% during the first quarter. Blair William & Co. IL now owns 4,855 shares of the company's stock worth $887,000 after buying an additional 551 shares during the period. Brighton Jones LLC raised its holdings in shares of DoorDash by 24.0% during the fourth quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock worth $1,566,000 after purchasing an additional 1,807 shares during the last quarter. Flagship Harbor Advisors LLC raised its holdings in shares of DoorDash by 14.4% during the first quarter. Flagship Harbor Advisors LLC now owns 1,636 shares of the company's stock worth $299,000 after purchasing an additional 206 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of DoorDash by 70.4% during the first quarter. GAMMA Investing LLC now owns 1,922 shares of the company's stock worth $351,000 after purchasing an additional 794 shares during the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at DoorDash

In other news, CEO Tony Xu sold 51,250 shares of the company's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $255.89, for a total transaction of $13,114,362.50. Following the sale, the chief executive officer owned 520,450 shares in the company, valued at $133,177,950.50. This represents a 8.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Prabir Adarkar sold 62,267 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $202.67, for a total value of $12,619,652.89. Following the sale, the chief operating officer owned 942,554 shares in the company, valued at approximately $191,027,419.18. This represents a 6.20% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 686,437 shares of company stock worth $161,070,166. Insiders own 5.83% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on DASH. Citigroup reissued an "outperform" rating on shares of DoorDash in a report on Thursday, August 7th. Loop Capital reiterated a "buy" rating on shares of DoorDash in a report on Tuesday, July 15th. Wells Fargo & Company boosted their target price on shares of DoorDash from $239.00 to $280.00 and gave the company an "equal weight" rating in a report on Thursday, August 7th. Jefferies Financial Group boosted their target price on shares of DoorDash from $250.00 to $265.00 and gave the company a "hold" rating in a report on Monday. Finally, Roth Capital boosted their target price on shares of DoorDash from $191.00 to $225.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Twelve analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $263.88.

DoorDash Stock Up 0.2%

Shares of DASH traded up $0.56 on Friday, hitting $248.00. The company's stock had a trading volume of 3,084,637 shares, compared to its average volume of 3,592,670. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.30. The firm's fifty day moving average price is $239.89 and its 200-day moving average price is $208.92. DoorDash, Inc. has a fifty-two week low of $122.32 and a fifty-two week high of $278.15. The firm has a market capitalization of $105.95 billion, a price-to-earnings ratio of 137.78 and a beta of 1.70.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.23. DoorDash had a return on equity of 9.56% and a net margin of 6.57%. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.16 billion. During the same quarter in the prior year, the firm posted ($0.38) EPS. The business's revenue was up 24.9% on a year-over-year basis. On average, equities research analysts expect that DoorDash, Inc. will post 2.22 EPS for the current 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.