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Mesirow Financial Investment Management Inc. Sells 1,167 Shares of DoorDash, Inc. (NASDAQ:DASH)

DoorDash logo with Computer and Technology background

Key Points

  • Mesirow Financial Investment Management Inc. has reduced its stake in DoorDash, Inc. by 38.6%, now holding 1,860 shares valued at approximately $340,000 as of the end of the first quarter.
  • Despite Mesirow's reduction, other institutional investors like Federated Hermes Inc. increased their stake in DoorDash by 30.7%, indicating robust interest in the stock among major investors.
  • DoorDash's recent quarterly earnings beat analyst expectations with reported earnings of $0.44 per share, alongside a significant year-over-year revenue increase of 20.7% despite falling short of some revenue estimates.
  • MarketBeat previews the top five stocks to own by September 1st.

Mesirow Financial Investment Management Inc. lowered its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 38.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,860 shares of the company's stock after selling 1,167 shares during the quarter. Mesirow Financial Investment Management Inc.'s holdings in DoorDash were worth $340,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. ORG Partners LLC grew its stake in shares of DoorDash by 404.0% in the 1st quarter. ORG Partners LLC now owns 252 shares of the company's stock valued at $46,000 after buying an additional 202 shares in the last quarter. Rothschild Investment LLC grew its stake in shares of DoorDash by 1,452.9% in the 1st quarter. Rothschild Investment LLC now owns 264 shares of the company's stock valued at $48,000 after buying an additional 247 shares in the last quarter. Mizuho Securities Co. Ltd. grew its stake in shares of DoorDash by 150.0% in the 1st quarter. Mizuho Securities Co. Ltd. now owns 300 shares of the company's stock valued at $55,000 after buying an additional 180 shares in the last quarter. Washington Trust Advisors Inc. bought a new stake in shares of DoorDash in the 1st quarter valued at approximately $56,000. Finally, Cromwell Holdings LLC bought a new stake in shares of DoorDash in the 1st quarter valued at approximately $58,000. Hedge funds and other institutional investors own 90.64% of the company's stock.

Insider Buying and Selling

In other news, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $240.69, for a total transaction of $10,929,732.90. Following the transaction, the director owned 26,070 shares in the company, valued at $6,274,788.30. The trade was a 63.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Prabir Adarkar sold 62,267 shares of DoorDash stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $202.67, for a total value of $12,619,652.89. Following the transaction, the chief operating officer owned 942,554 shares in the company, valued at $191,027,419.18. This trade represents a 6.20% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 508,127 shares of company stock worth $115,087,539 in the last ninety days. 5.83% of the stock is currently owned by corporate insiders.

DoorDash Stock Performance

DASH traded up $9.67 during midday trading on Monday, reaching $258.02. 3,349,917 shares of the company were exchanged, compared to its average volume of 2,846,482. DoorDash, Inc. has a one year low of $106.21 and a one year high of $258.73. The stock has a market capitalization of $109.33 billion, a P/E ratio of 335.10 and a beta of 1.70. The stock's 50-day simple moving average is $230.64 and its 200 day simple moving average is $203.92.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share (EPS) 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 firm had revenue of $3.03 billion for the quarter, compared to analysts' expectations of $3.10 billion. During the same quarter last year, the business earned ($0.06) earnings per share. The company's revenue was up 20.7% compared to the same quarter last year. On average, research analysts anticipate that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Sanford C. Bernstein upped their target price on DoorDash from $210.00 to $265.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. Morgan Stanley reaffirmed an "overweight" rating and set a $275.00 target price (up previously from $220.00) on shares of DoorDash in a research report on Monday, July 21st. Wall Street Zen raised DoorDash from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Benchmark upped their target price on DoorDash from $225.00 to $260.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Finally, Stifel Nicolaus increased their price objective on DoorDash from $198.00 to $214.00 and gave the company a "hold" rating in a research report on Tuesday, July 29th. Eleven analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, DoorDash has an average rating of "Moderate Buy" and an average target price of $235.56.

Check Out Our Latest Research Report on DoorDash

DoorDash Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for DoorDash (NASDAQ:DASH)

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