Entropy Technologies LP cut its stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 40.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 31,350 shares of the company's stock after selling 21,341 shares during the period. Entropy Technologies LP's holdings in DoorDash were worth $5,730,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in DASH. Vanguard Group Inc. increased its stake in shares of DoorDash by 25.8% during the 1st quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company's stock valued at $7,200,642,000 after acquiring an additional 8,073,882 shares during the last quarter. Capital World Investors grew its stake in shares of DoorDash by 26.4% during the fourth quarter. Capital World Investors now owns 12,153,265 shares of the company's stock valued at $2,038,712,000 after acquiring an additional 2,538,160 shares in the last quarter. Invesco Ltd. grew its stake in shares of DoorDash by 41.9% during the first quarter. Invesco Ltd. now owns 4,799,851 shares of the company's stock valued at $877,269,000 after acquiring an additional 1,416,194 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of DoorDash by 36.5% during the first quarter. Goldman Sachs Group Inc. now owns 3,151,986 shares of the company's stock valued at $576,089,000 after acquiring an additional 842,637 shares in the last quarter. Finally, Marshall Wace LLP grew its stake in shares of DoorDash by 0.6% during the fourth quarter. Marshall Wace LLP now owns 2,764,431 shares of the company's stock valued at $463,733,000 after acquiring an additional 15,952 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company's stock.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on DASH shares. Royal Bank Of Canada lifted their price target on DoorDash from $230.00 to $300.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Benchmark lifted their target price on DoorDash from $260.00 to $315.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Piper Sandler lifted their price target on DoorDash from $210.00 to $290.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Citigroup reaffirmed an "outperform" rating on shares of DoorDash in a report on Thursday, August 7th. Finally, Needham & Company LLC set a $300.00 price target on DoorDash and gave the company a "buy" rating in a report on Thursday, August 7th. Twelve analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $263.88.
Read Our Latest Analysis on DoorDash
Insider Activity at DoorDash
In other news, COO Prabir Adarkar sold 62,267 shares of the company's stock in a transaction on Friday, May 23rd. The shares were sold at an average price of $202.67, for a total value of $12,619,652.89. Following the transaction, the chief operating officer directly owned 942,554 shares of the company's stock, valued at approximately $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 can be accessed through this link. Also, Director Andy Fang sold 50,000 shares of the company's stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $275.74, for a total transaction of $13,787,000.00. Following the completion of the transaction, the director directly owned 22,545 shares in the company, valued at $6,216,558.30. This trade represents a 68.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 635,187 shares of company stock valued at $147,955,804. 5.83% of the stock is owned by insiders.
DoorDash Stock Up 3.2%
NASDAQ:DASH traded up $8.23 during trading hours on Tuesday, hitting $264.32. 2,901,608 shares of the stock traded hands, compared to its average volume of 3,512,350. The firm has a 50 day moving average price of $237.98 and a 200 day moving average price of $207.72. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.30. 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 cap of $112.00 billion, a price-to-earnings ratio of 146.85 and a beta of 1.70.
DoorDash (NASDAQ:DASH - Get Free Report) last posted 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 net margin of 6.57% and a return on equity of 9.56%. The business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the prior year, the business posted ($0.38) earnings per share. DoorDash's revenue for the quarter was up 24.9% compared to the same quarter last year. Equities research analysts anticipate that DoorDash, Inc. will post 2.22 earnings per share for the current year.
DoorDash Profile
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Free Report)
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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