Legal & General Group Plc Sells 16,094 Shares of DoorDash, Inc. $DASH

Key Points

• Legal & General Group Plc trimmed its DoorDash stake by 0.7% in the fourth quarter, selling 16,094 shares. The fund still held 2,249,312 shares valued at about $509.4 million at the end of the period.
• DoorDash’s latest earnings showed better-than-expected EPS of $0.42 versus $0.36 expected, while revenue came in at $4.04 billion, slightly below estimates. Revenue still grew 33.1% year over year, and analysts now expect full-year EPS of 2.45.
• Wall Street remains generally positive on the stock, with a consensus rating of Moderate Buy and an average price target of $259.58. However, several firms recently cut their targets, reflecting some caution despite the bullish overall stance.

Legal & General Group Plc reduced its holdings in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 0.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,249,312 shares of the company's stock after selling 16,094 shares during the quarter. Legal & General Group Plc owned 0.52% of DoorDash worth $509,425,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Hantz Financial Services Inc. lifted its position in shares of DoorDash by 110.4% during the 4th quarter. Hantz Financial Services Inc. now owns 846 shares of the company's stock worth $192,000 after buying an additional 444 shares during the last quarter. Coldstream Capital Management Inc. lifted its position in shares of DoorDash by 3.2% during the 4th quarter. Coldstream Capital Management Inc. now owns 4,431 shares of the company's stock worth $1,004,000 after buying an additional 138 shares during the last quarter. Steadview Capital Management LLC lifted its position in shares of DoorDash by 1.2% during the 4th quarter. Steadview Capital Management LLC now owns 252,355 shares of the company's stock worth $57,153,000 after buying an additional 2,915 shares during the last quarter. BloombergSen Inc. lifted its position in shares of DoorDash by 31.6% during the 4th quarter. BloombergSen Inc. now owns 10,657 shares of the company's stock worth $2,414,000 after buying an additional 2,561 shares during the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of DoorDash by 2.9% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,996 shares of the company's stock worth $679,000 after buying an additional 84 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

DASH has been the subject of several recent analyst reports. Truist Financial dropped their price objective on DoorDash from $340.00 to $330.00 and set a "buy" rating for the company in a research report on Thursday, May 7th. Citigroup dropped their price objective on DoorDash from $280.00 to $250.00 and set a "buy" rating for the company in a research report on Friday, May 8th. Zacks Research upgraded DoorDash from a "strong sell" rating to a "hold" rating in a research report on Tuesday, May 12th. Morgan Stanley restated an "overweight" rating and set a $275.00 price objective on shares of DoorDash in a research report on Thursday, February 19th. Finally, Piper Sandler dropped their price objective on DoorDash from $220.00 to $205.00 and set a "neutral" rating for the company in a research report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $259.58.

DoorDash Price Performance

DoorDash stock opened at $160.25 on Tuesday. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $69.82 billion, a PE ratio of 76.31 and a beta of 1.87. DoorDash, Inc. has a 12 month low of $143.30 and a 12 month high of $285.50. The stock has a 50-day moving average price of $162.93 and a two-hundred day moving average price of $188.71.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.36 by $0.06. The firm had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $4.15 billion. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The business's quarterly revenue was up 33.1% on a year-over-year basis. During the same period last year, the company earned $0.44 earnings per share. Analysts expect that DoorDash, Inc. will post 2.45 EPS for the current year.

Insider Buying and Selling at DoorDash

In other DoorDash news, COO Prabir Adarkar sold 10,000 shares of the stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $188.34, for a total value of $1,883,400.00. Following the completion of the transaction, 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 ownership of the stock. The transaction 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 Stanley Tang sold 21,433 shares of the stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $150.00, for a total value of $3,214,950.00. Following the completion of the transaction, the director owned 19,279 shares of the company's stock, valued at $2,891,850. This represents a 52.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 42,683 shares of company stock worth $6,908,813. 5.83% of the stock is currently owned by insiders.

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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