Machina Capital S.A.S. Sells 5,117 Shares of DoorDash, Inc. (NASDAQ:DASH)

Key Points

• Machina Capital S.A.S. significantly reduced its holdings in DoorDash by 57.3% during the 1st quarter, now owning 3,808 shares valued at $696,000.
• Analysts have mixed views on DoorDash, with Needham & Company raising the price target to $230.00, while JPMorgan Chase decreased it to $175.00, resulting in an average price target of $230.34.
• Insider trading activity has seen the COO and CEO selling a significant number of shares, indicating decreased ownership percentages of 6.20% and 7.84% respectively after their sales in recent months.

Machina Capital S.A.S. lessened its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 57.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,808 shares of the company's stock after selling 5,117 shares during the period. Machina Capital S.A.S.'s holdings in DoorDash were worth $696,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in DASH. ORG Partners LLC boosted its holdings in DoorDash by 404.0% in the first quarter. ORG Partners LLC now owns 252 shares of the company's stock worth $46,000 after acquiring an additional 202 shares in the last quarter. Rothschild Investment LLC increased its position in shares of DoorDash by 1,452.9% during the first quarter. Rothschild Investment LLC now owns 264 shares of the company's stock valued at $48,000 after acquiring an additional 247 shares during the last quarter. Mizuho Securities Co. Ltd. increased its position in shares of DoorDash by 150.0% during the first quarter. Mizuho Securities Co. Ltd. now owns 300 shares of the company's stock valued at $55,000 after acquiring an additional 180 shares during the last quarter. Washington Trust Advisors Inc. purchased a new stake in shares of DoorDash during the first quarter valued at approximately $56,000. Finally, Cromwell Holdings LLC purchased a new stake in DoorDash in the first quarter worth $58,000. Institutional investors own 90.64% of the company's stock.

Insider Activity at DoorDash

In related news, COO Prabir Adarkar sold 62,267 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $202.67, for a total transaction of $12,619,652.89. Following the transaction, the chief operating officer owned 942,554 shares of the company's stock, valued at approximately $191,027,419.18. This trade represents a 6.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andy Fang sold 30,000 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $217.52, for a total transaction of $6,525,600.00. Following the transaction, the director directly owned 22,545 shares in the company, valued at approximately $4,903,988.40. The trade was a 57.09% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 441,773 shares of company stock worth $98,711,043. Company insiders own 5.83% of the company's stock.

DoorDash Stock Down 1.3%

Shares of NASDAQ DASH traded down $3.30 during trading on Monday, hitting $246.62. 712,872 shares of the company traded hands, compared to its average volume of 4,812,250. DoorDash, Inc. has a 1 year low of $104.62 and a 1 year high of $250.71. The company has a 50-day moving average price of $226.30 and a 200-day moving average price of $201.22. The firm has a market capitalization of $104.50 billion, a P/E ratio of 320.31 and a beta of 1.70.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.05. The business had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.10 billion. DoorDash had a net margin of 3.02% and a return on equity of 4.39%. The business's quarterly revenue was up 20.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.06) earnings per share. Research analysts predict that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on DASH shares. Raymond James Financial raised their price target on DoorDash from $260.00 to $275.00 and gave the stock a "strong-buy" rating in a report on Monday, July 21st. DA Davidson lifted their price objective on DoorDash from $150.00 to $190.00 and gave the company a "neutral" rating in a research note on Tuesday, May 6th. Oppenheimer lifted their price target on DoorDash from $220.00 to $280.00 and gave the stock an "outperform" rating in a research note on Monday, June 30th. BMO Capital Markets reissued an "outperform" rating on shares of DoorDash in a research note on Tuesday, April 29th. Finally, KeyCorp upped their target price on DoorDash from $235.00 to $295.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Eleven investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, DoorDash currently has a consensus rating of "Moderate Buy" and an average target price of $232.12.

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.