DoorDash, Inc. (NASDAQ:DASH) Stock Position Reduced by Adero Partners LLC

Adero Partners LLC lessened its holdings in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 15.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 242,823 shares of the company's stock after selling 43,971 shares during the quarter. DoorDash makes up about 2.9% of Adero Partners LLC's holdings, making the stock its 10th largest position. Adero Partners LLC owned 0.06% of DoorDash worth $44,381,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of DASH. Brighton Jones LLC lifted its stake in 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. Principal Financial Group Inc. lifted its stake in DoorDash by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 93,382 shares of the company's stock worth $15,665,000 after purchasing an additional 2,596 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in DoorDash by 36.2% during the fourth quarter. Jones Financial Companies Lllp now owns 1,926 shares of the company's stock worth $323,000 after purchasing an additional 512 shares during the last quarter. Truist Financial Corp lifted its stake in DoorDash by 35.1% during the fourth quarter. Truist Financial Corp now owns 8,597 shares of the company's stock worth $1,442,000 after purchasing an additional 2,233 shares during the last quarter. Finally, Allworth Financial LP lifted its stake in DoorDash by 26.9% during the fourth quarter. Allworth Financial LP now owns 840 shares of the company's stock worth $149,000 after purchasing an additional 178 shares during the last quarter. Hedge funds and other institutional investors own 90.64% of the company's stock.

Insider Activity

In related news, General Counsel Tia Sherringham sold 7,546 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $204.56, for a total value of $1,543,609.76. Following the sale, the general counsel now owns 129,514 shares of the company's stock, valued at approximately $26,493,383.84. This trade represents a 5.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Andy Fang sold 30,000 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $217.52, for a total value of $6,525,600.00. Following the completion of the sale, the director now directly owns 22,545 shares in the company, valued at approximately $4,903,988.40. This trade represents a 57.09% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 298,030 shares of company stock worth $59,433,406. 5.83% of the stock is currently owned by corporate insiders.

DoorDash Stock Up 1.1%

Shares of NASDAQ:DASH opened at $218.96 on Monday. DoorDash, Inc. has a 52-week low of $99.32 and a 52-week high of $220.88. The stock's fifty day simple moving average is $196.51 and its 200-day simple moving average is $187.92. The company has a market capitalization of $92.78 billion, a P/E ratio of 810.96 and a beta of 1.67.

DoorDash (NASDAQ:DASH - Get Free Report) last released its 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. The firm had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.10 billion. DoorDash had a return on equity of 1.67% and a net margin of 1.15%. The firm's revenue for the quarter was up 20.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.06) earnings per share. On average, sell-side analysts anticipate that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Wedbush restated an "outperform" rating on shares of DoorDash in a research note on Wednesday, May 7th. KeyCorp decreased their target price on DoorDash from $240.00 to $230.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. JPMorgan Chase & Co. cut their price target on 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 lifted their price target on DoorDash from $150.00 to $190.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Finally, JMP Securities lifted their price target on DoorDash from $225.00 to $235.00 and gave the stock a "market outperform" rating in a research report on Thursday. Eleven analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $210.21.

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.

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