Janney Montgomery Scott LLC Trims Holdings in DoorDash, Inc. (NASDAQ:DASH)

Janney Montgomery Scott LLC lessened its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 6.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,330 shares of the company's stock after selling 3,845 shares during the period. Janney Montgomery Scott LLC's holdings in DoorDash were worth $10,113,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Mission Wealth Management LP purchased a new position in shares of DoorDash during the 1st quarter valued at approximately $212,000. Optas LLC purchased a new stake in DoorDash during the 1st quarter worth approximately $233,000. Brighton Jones LLC increased its stake in DoorDash by 5.3% during the 1st quarter. Brighton Jones LLC now owns 9,829 shares of the company's stock worth $1,796,000 after buying an additional 493 shares in the last quarter. Ritholtz Wealth Management acquired a new position in shares of DoorDash during the first quarter valued at approximately $240,000. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of DoorDash by 12.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 43,817 shares of the company's stock valued at $8,008,000 after acquiring an additional 4,827 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company's stock.

Insider Activity

In other DoorDash news, Director Andy Fang sold 30,000 shares of the stock in a transaction that occurred 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 now directly owns 22,545 shares in the company, valued at $4,903,988.40. This represents a 57.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Tony Xu sold 44,244 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $220.71, for a total transaction of $9,765,093.24. Following the sale, the chief executive officer now directly owns 520,450 shares in the company, valued at approximately $114,868,519.50. The trade was a 7.84% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 342,274 shares of company stock worth $69,198,499. 5.83% of the stock is currently owned by company insiders.

DoorDash Stock Down 0.1%

DoorDash stock traded down $0.12 during mid-day trading on Friday, reaching $220.46. 6,878,903 shares of the company's stock were exchanged, compared to its average volume of 4,221,786. DoorDash, Inc. has a twelve month low of $99.32 and a twelve month high of $223.81. The company has a market cap of $93.42 billion, a P/E ratio of 286.31 and a beta of 1.67. The company has a fifty day moving average of $200.53 and a 200-day moving average of $189.34.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.39 by $0.05. DoorDash had a return on equity of 4.39% and a net margin of 3.02%. 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 prior year, the company earned ($0.06) earnings per share. The company's revenue was up 20.7% on a year-over-year basis. Equities research analysts expect that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Roth Capital set a $191.00 price objective on DoorDash and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Evercore ISI restated an "outperform" rating on shares of DoorDash in a research report on Monday, March 10th. Wedbush reiterated an "outperform" rating on shares of DoorDash in a report on Wednesday, May 7th. JMP Securities raised their target price on shares of DoorDash from $225.00 to $235.00 and gave the stock a "market outperform" rating in a research note on Thursday, June 12th. Finally, BMO Capital Markets restated an "outperform" rating on shares of DoorDash in a research report on Tuesday, April 29th. Eleven research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $210.21.

About DoorDash

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.