DoorDash, Inc. (NASDAQ:DASH) Stock Holdings Decreased by EFG Asset Management Americas Corp.

Key Points

• EFG Asset Management Americas Corp. has reduced its stake in DoorDash, Inc. by 10.9%, selling 1,647 shares and now holding a total of 13,440 shares valued at approximately $2.46 million.
• According to a recent earnings report, DoorDash reported earnings per share of $0.44, surpassing estimates, while its revenue for the quarter reached $3.03 billion, albeit below analyst expectations of $3.10 billion.
• Several hedge funds have significantly increased their positions in DoorDash, with Capital World Investors raising its stake by 26.4% and UBS AM increasing its stake by 46.7% during the fourth quarter.

EFG Asset Management Americas Corp. lessened its holdings in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 10.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,440 shares of the company's stock after selling 1,647 shares during the quarter. EFG Asset Management Americas Corp.'s holdings in DoorDash were worth $2,456,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Harbour Investments Inc. grew its holdings in shares of DoorDash by 55.6% during the first quarter. Harbour Investments Inc. now owns 196 shares of the company's stock worth $36,000 after purchasing an additional 70 shares during the last quarter. ORG Partners LLC boosted its stake in shares of DoorDash by 404.0% during the first quarter. ORG Partners LLC now owns 252 shares of the company's stock worth $46,000 after buying an additional 202 shares during the period. Rothschild Investment LLC boosted its stake in shares of DoorDash by 1,452.9% during the first quarter. Rothschild Investment LLC now owns 264 shares of the company's stock worth $48,000 after buying an additional 247 shares during the period. Mizuho Securities Co. Ltd. boosted its stake in shares of DoorDash by 150.0% during the first quarter. Mizuho Securities Co. Ltd. now owns 300 shares of the company's stock worth $55,000 after buying an additional 180 shares during the period. Finally, Washington Trust Advisors Inc. acquired a new stake in shares of DoorDash during the first quarter worth about $56,000. Hedge funds and other institutional investors own 90.64% of the company's stock.

Wall Street Analysts Forecast Growth

DASH has been the subject of several recent research reports. Oppenheimer increased their target price on shares of DoorDash from $220.00 to $280.00 and gave the stock an "outperform" rating in a research note on Monday, June 30th. Benchmark raised their price objective on shares of DoorDash from $225.00 to $260.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Truist Financial raised their price objective on shares of DoorDash from $230.00 to $272.00 and gave the company a "buy" rating in a research report on Tuesday. UBS Group raised their price objective on shares of DoorDash from $196.00 to $260.00 and gave the company a "neutral" rating in a research report on Tuesday. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $260.00 price target (up from $210.00) on shares of DoorDash in a research report on Wednesday, June 25th. Eleven equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $235.56.

Insider Activity

In other DoorDash news, Director Andy Fang sold 30,000 shares of the business's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $217.52, for a total value of $6,525,600.00. Following the transaction, the director owned 22,545 shares in the company, valued at $4,903,988.40. The trade was a 57.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Prabir Adarkar sold 62,267 shares of the business's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $202.67, for a total transaction of $12,619,652.89. Following the completion of 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 508,127 shares of company stock worth $115,087,539. 5.83% of the stock is owned by corporate insiders.

DoorDash Price Performance

DASH stock traded down $1.90 during midday trading on Friday, hitting $248.35. The stock had a trading volume of 2,945,040 shares, compared to its average volume of 2,699,196. The firm has a market cap of $105.24 billion, a PE ratio of 322.54 and a beta of 1.70. The company's 50-day moving average price is $230.64 and its 200 day moving average price is $203.47. DoorDash, Inc. has a 12-month low of $106.21 and a 12-month high of $252.87.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its earnings results 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 business had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same quarter in the previous year, the business posted ($0.06) EPS. The business's quarterly revenue was up 20.7% on a year-over-year basis. As a group, sell-side analysts anticipate that DoorDash, Inc. will post 2.22 EPS for the current year.

DoorDash Company 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.