Gateway Investment Advisers LLC Lowers Stock Holdings in DoorDash, Inc. $DASH

Key Points

• Gateway Investment Advisers LLC has drastically reduced its stake in DoorDash, Inc. by 93.5% in the second quarter, leaving them with 1,688 shares valued at $416,000.
• Insider transactions revealed CEO Tony Xu and General Counsel Tia Sherringham sold a significant number of shares, with Xu's sale representing a 97.16% decrease in his holdings.
• Wall Street analysts have a generally positive outlook on DoorDash, with various firms raising their price targets, including a boost from BTIG Research to $265.00 and from Evercore ISI to $360.00.

Gateway Investment Advisers LLC lowered its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 93.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,688 shares of the company's stock after selling 24,286 shares during the quarter. Gateway Investment Advisers LLC's holdings in DoorDash were worth $416,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake 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 in the last quarter. Snowden Capital Advisors LLC acquired a new stake in DoorDash in the 4th quarter worth about $251,000. State of Wyoming acquired a new stake in DoorDash in the 4th quarter worth about $187,000. Vident Advisory LLC increased its stake in DoorDash by 1.4% during the 4th quarter. Vident Advisory LLC now owns 10,721 shares of the company's stock worth $1,799,000 after buying an additional 147 shares in the last quarter. Finally, Pinkerton Retirement Specialists LLC acquired a new position in shares of DoorDash during the fourth quarter valued at approximately $314,000. 90.64% of the stock is currently owned by institutional investors and hedge funds.

DoorDash Trading Down 1.0%

DoorDash stock traded down $2.54 during mid-day trading on Monday, hitting $262.75. The company's stock had a trading volume of 2,952,096 shares, compared to its average volume of 3,044,862. The stock's fifty day moving average is $250.63 and its two-hundred day moving average is $219.23. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $112.25 billion, a PE ratio of 145.97 and a beta of 1.70. DoorDash, Inc. has a 1 year low of $138.59 and a 1 year high of $278.15.

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

Insider Activity at DoorDash

In related news, COO Prabir Adarkar sold 41,881 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $245.82, for a total transaction of $10,295,187.42. Following the completion of the transaction, the chief operating officer owned 914,547 shares of the company's stock, valued at approximately $224,813,943.54. This trade represents a 4.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $275.74, for a total transaction of $13,787,000.00. Following the completion of the sale, the director owned 22,545 shares of the company's stock, valued at $6,216,558.30. This trade represents a 68.92% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,022,728 shares of company stock worth $250,841,825. 5.83% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on DASH. Evercore ISI reaffirmed an "outperform" rating and issued a $360.00 price target (up from $240.00) on shares of DoorDash in a research note on Friday, August 8th. Morgan Stanley lifted their target price on shares of DoorDash from $275.00 to $300.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Zacks Research raised shares of DoorDash to a "hold" rating in a report on Tuesday, August 12th. Loop Capital reissued a "buy" rating on shares of DoorDash in a research note on Tuesday, July 15th. Finally, UBS Group upped their price objective on shares of DoorDash from $260.00 to $280.00 and gave the company a "neutral" rating in a research note on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and thirteen have assigned a Hold rating to the stock. According to MarketBeat, DoorDash presently has a consensus rating of "Moderate Buy" and an average price target of $268.76.

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.