J. Safra Sarasin Holding AG Lowers Holdings in DoorDash, Inc. $DASH

Key Points

• J. Safra Sarasin Holding AG reduced its stake in DoorDash, Inc. by 16.1% during the second quarter, holding 7,517 shares worth approximately $1.85 million.
• DoorDash's recent earnings report showed a profit of $0.65 per share, exceeding analysts' expectations of $0.42, with a revenue of $3.28 billion for the quarter.
• The stock currently holds a consensus target price of $275.27, with the majority of analysts rating it as a "Moderate Buy."

J. Safra Sarasin Holding AG decreased its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 16.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,517 shares of the company's stock after selling 1,440 shares during the quarter. J. Safra Sarasin Holding AG's holdings in DoorDash were worth $1,853,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of DASH. Night Squared LP purchased a new stake in DoorDash during the first quarter worth $2,780,000. Mutual of America Capital Management LLC purchased a new stake in shares of DoorDash during the 1st quarter worth about $7,200,000. Public Investment Fund boosted its stake in shares of DoorDash by 68.3% during the 1st quarter. Public Investment Fund now owns 821,389 shares of the company's stock worth $150,125,000 after acquiring an additional 333,369 shares in the last quarter. Ardmore Road Asset Management LP boosted its stake in shares of DoorDash by 6.7% during the 1st quarter. Ardmore Road Asset Management LP now owns 80,000 shares of the company's stock worth $14,622,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Junto Capital Management LP purchased a new stake in shares of DoorDash during the 1st quarter worth about $29,261,000. Hedge funds and other institutional investors own 90.64% of the company's stock.

DoorDash Trading Up 0.4%

DASH opened at $271.22 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.07 and a quick ratio of 2.07. The company's 50 day simple moving average is $255.52 and its two-hundred day simple moving average is $223.92. DoorDash, Inc. has a 1-year low of $141.26 and a 1-year high of $278.15. The firm has a market capitalization of $115.87 billion, a price-to-earnings ratio of 150.68 and a beta of 1.71.

DoorDash (NASDAQ:DASH - Get Free Report) last released its 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 analyst estimates of $3.16 billion. During the same period last year, the company posted ($0.38) EPS. The business's revenue was up 24.9% on a year-over-year basis. Analysts expect that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Insider Buying and Selling

In other news, COO Prabir Adarkar sold 41,881 shares of DoorDash stock in a transaction on Monday, August 25th. The stock was sold at an average price of $245.82, for a total transaction of $10,295,187.42. Following the transaction, the chief operating officer owned 914,547 shares in the company, valued at $224,813,943.54. The trade was a 4.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Tony Xu sold 291,403 shares of DoorDash stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $238.19, for a total value of $69,409,280.57. Following the transaction, the chief executive officer owned 229,047 shares in the company, valued at approximately $54,556,704.93. This represents a 55.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,001,417 shares of company stock worth $249,569,754 in the last quarter. 5.83% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on DASH shares. Wall Street Zen upgraded DoorDash from a "hold" rating to a "buy" rating in a research report on Friday. Cantor Fitzgerald reiterated an "overweight" rating and set a $330.00 target price on shares of DoorDash in a research report on Wednesday, September 17th. JMP Securities increased their target price on DoorDash from $250.00 to $335.00 and gave the company a "market outperform" rating in a research report on Thursday, August 7th. KeyCorp reaffirmed an "overweight" rating and set a $325.00 price objective (up from $295.00) on shares of DoorDash in a report on Thursday, August 7th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of DoorDash in a report on Saturday, September 27th. Two analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and fourteen have issued a Hold rating to the company. Based on data from MarketBeat, DoorDash currently has an average rating of "Moderate Buy" and a consensus target price of $275.27.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.