Petrus Trust Company LTA Decreases Stock Holdings in DoorDash, Inc. $DASH

Key Points

• Petrus Trust Company LTA reduced its holdings in DoorDash, Inc. by 55.4%, selling 5,026 shares and holding 4,050 shares worth approximately $740,000 at the end of the first quarter.
• Institutional investors own 90.64% of DoorDash's stock, with Vanguard Group notably increasing its position by 25.8%, now owning shares valued at over $7.2 billion.
• DoorDash reported a quarterly earnings per share (EPS) of $0.65, surpassing analysts' expectations, with a revenue of $3.28 billion, marking a year-over-year increase of 24.9%.

Petrus Trust Company LTA lessened its position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 55.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,050 shares of the company's stock after selling 5,026 shares during the quarter. Petrus Trust Company LTA's holdings in DoorDash were worth $740,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Palo Alto Wealth Advisors LLC grew its stake in DoorDash by 0.4% during the 1st quarter. Palo Alto Wealth Advisors LLC now owns 12,057 shares of the company's stock valued at $2,385,000 after purchasing an additional 54 shares during the last quarter. Harbour Investments Inc. grew its stake in DoorDash by 55.6% during the 1st quarter. Harbour Investments Inc. now owns 196 shares of the company's stock valued at $36,000 after purchasing an additional 70 shares during the last quarter. LVW Advisors LLC grew its stake in DoorDash by 6.1% during the 1st quarter. LVW Advisors LLC now owns 1,495 shares of the company's stock valued at $273,000 after purchasing an additional 86 shares during the last quarter. CVA Family Office LLC grew its stake in DoorDash by 12.7% during the 1st quarter. CVA Family Office LLC now owns 774 shares of the company's stock valued at $141,000 after purchasing an additional 87 shares during the last quarter. Finally, Proficio Capital Partners LLC grew its stake in DoorDash by 8.3% during the 1st quarter. Proficio Capital Partners LLC now owns 1,416 shares of the company's stock valued at $259,000 after purchasing an additional 108 shares during the last quarter. Hedge funds and other institutional investors own 90.64% of the company's stock.

Insider Buying and Selling

In related news, General Counsel Tia Sherringham sold 2,924 shares of DoorDash stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $250.00, for a total value of $731,000.00. Following the sale, the general counsel directly owned 112,782 shares in the company, valued at approximately $28,195,500. The trade was a 2.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Tony Xu sold 17,083 shares of DoorDash stock in a transaction dated Wednesday, September 3rd. The stock was sold at an average price of $250.50, for a total value of $4,279,291.50. Following the completion of the sale, the chief executive officer owned 1,500 shares in the company, valued at approximately $375,750. The trade was a 91.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,019,042 shares of company stock worth $248,122,219 in the last quarter. 5.83% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

DASH has been the subject of several analyst reports. Benchmark boosted their price objective on DoorDash from $260.00 to $315.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Needham & Company LLC set a $300.00 price objective on DoorDash and gave the company a "buy" rating in a report on Thursday, August 7th. Wedbush reissued a "neutral" rating on shares of DoorDash in a report on Friday, August 8th. Morgan Stanley boosted their price objective on DoorDash from $275.00 to $300.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Finally, Raymond James Financial reissued a "strong-buy" rating and issued a $325.00 price objective (up previously from $275.00) on shares of DoorDash in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and thirteen have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $264.65.

DoorDash Price Performance

Shares of DoorDash stock traded up $5.93 on Tuesday, hitting $256.53. The company's stock had a trading volume of 2,851,947 shares, compared to its average volume of 2,880,085. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.07 and a current ratio of 2.07. DoorDash, Inc. has a 1 year low of $122.73 and a 1 year high of $278.15. The firm has a fifty day moving average price of $247.03 and a 200-day moving average price of $214.74. The company has a market capitalization of $109.59 billion, a price-to-earnings ratio of 142.52 and a beta of 1.70.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.23. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.The firm had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the previous year, the business earned ($0.38) EPS. DoorDash's revenue for the quarter was up 24.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

DoorDash 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.