Horizon Investments LLC Cuts Position in DoorDash, Inc. $DASH

Key Points

• Horizon Investments LLC cut its position in DoorDash by 36.2% in Q4, selling 8,812 shares and leaving it with 15,537 shares valued at about $3.52 million.
• Company insiders have been net sellers recently: COO Prabir Adarkar sold 10,000 shares under a Rule 10b5-1 plan, and insiders sold 43,933 shares worth $7.14 million in the past three months (insiders now own 5.83%).
• DoorDash missed Q4 EPS estimates ($0.48 vs. $0.58) despite revenue rising 37.7% year-over-year to $3.96 billion; the stock has a market cap of about $75 billion and a MarketBeat consensus rating of "Moderate Buy" with a $259.31 price target.

Horizon Investments LLC decreased its position in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 36.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,537 shares of the company's stock after selling 8,812 shares during the quarter. Horizon Investments LLC's holdings in DoorDash were worth $3,519,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of DASH. Vanguard Group Inc. grew its stake in shares of DoorDash by 3.7% in the third quarter. Vanguard Group Inc. now owns 42,712,908 shares of the company's stock valued at $11,617,484,000 after buying an additional 1,522,823 shares in the last quarter. Scge Management L.P. acquired a new stake in shares of DoorDash in the second quarter valued at $267,463,000. Invesco Ltd. grew its stake in shares of DoorDash by 18.2% in the third quarter. Invesco Ltd. now owns 6,355,628 shares of the company's stock valued at $1,728,667,000 after buying an additional 980,148 shares in the last quarter. State Street Corp grew its stake in shares of DoorDash by 6.3% in the third quarter. State Street Corp now owns 15,296,624 shares of the company's stock valued at $4,160,529,000 after buying an additional 909,125 shares in the last quarter. Finally, Amundi grew its stake in shares of DoorDash by 66.8% in the third quarter. Amundi now owns 1,700,112 shares of the company's stock valued at $478,990,000 after buying an additional 681,058 shares in the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, COO Prabir Adarkar sold 10,000 shares of the firm's stock in a transaction on Monday, April 20th. The shares were sold at an average price of $188.34, for a total value of $1,883,400.00. Following the sale, the chief operating officer directly owned 843,678 shares in the company, valued at approximately $158,898,314.52. This trade represents a 1.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Shona L. Brown sold 1,250 shares of the firm's stock in a transaction on Monday, March 9th. The shares were sold at an average price of $176.61, for a total transaction of $220,762.50. Following the completion of the sale, the director owned 31,002 shares in the company, valued at $5,475,263.22. The trade was a 3.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 43,933 shares of company stock worth $7,135,413. 5.83% of the stock is currently owned by corporate insiders.

DoorDash Price Performance

Shares of DASH opened at $172.57 on Tuesday. DoorDash, Inc. has a twelve month low of $143.30 and a twelve month high of $285.50. The firm's fifty day simple moving average is $167.00 and its 200-day simple moving average is $199.09. The firm has a market capitalization of $74.97 billion, a price-to-earnings ratio of 81.40 and a beta of 1.87. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.27.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its quarterly earnings data on Wednesday, February 18th. The company reported $0.48 earnings per share for the quarter, missing analysts' consensus estimates of $0.58 by ($0.10). DoorDash had a net margin of 6.82% and a return on equity of 10.15%. The firm had revenue of $3.96 billion during the quarter, compared to analyst estimates of $3.98 billion. During the same quarter in the previous year, the business posted $0.33 earnings per share. DoorDash's revenue for the quarter was up 37.7% compared to the same quarter last year. Equities analysts forecast that DoorDash, Inc. will post 2.51 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. BNP Paribas Exane assumed coverage on DoorDash in a research note on Wednesday, January 14th. They issued an "outperform" rating and a $280.00 price objective for the company. UBS Group decreased their price target on shares of DoorDash from $240.00 to $206.00 and set a "neutral" rating for the company in a research report on Friday. Sanford C. Bernstein decreased their price target on shares of DoorDash from $285.00 to $270.00 and set an "outperform" rating for the company in a research report on Thursday, February 19th. Citigroup decreased their price target on shares of DoorDash from $283.00 to $280.00 and set a "buy" rating for the company in a research report on Friday, February 20th. Finally, Piper Sandler reissued a "neutral" rating and issued a $220.00 price target (down from $230.00) on shares of DoorDash in a research report on Thursday, February 19th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $259.31.

DoorDash Profile

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company's core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.

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