RFG Advisory LLC Sells 1,346 Shares of DoorDash, Inc. $DASH

Key Points

• RFG Advisory LLC decreased its stake in DoorDash, Inc. by 19.5%, selling 1,346 shares and bringing its total holdings to 5,567 shares valued at approximately $1.37 million.
• Several hedge funds, including Vanguard Group and Invesco Ltd., significantly increased their positions in DoorDash during the first quarter, indicating strong interest from institutional investors.
• DoorDash reported $0.65 EPS for the last quarter, outperforming expectations, with revenues of $3.28 billion and a year-over-year growth of 24.9%.

RFG Advisory LLC reduced its position in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 19.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,567 shares of the company's stock after selling 1,346 shares during the quarter. RFG Advisory LLC's holdings in DoorDash were worth $1,372,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of DoorDash by 25.8% in the first quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company's stock worth $7,200,642,000 after purchasing an additional 8,073,882 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of DoorDash by 15.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,907,970 shares of the company's stock worth $897,031,000 after purchasing an additional 641,601 shares during the period. Invesco Ltd. boosted its position in shares of DoorDash by 41.9% in the first quarter. Invesco Ltd. now owns 4,799,851 shares of the company's stock worth $877,269,000 after purchasing an additional 1,416,194 shares during the period. Northern Trust Corp boosted its position in shares of DoorDash by 38.2% in the first quarter. Northern Trust Corp now owns 3,309,237 shares of the company's stock worth $604,829,000 after purchasing an additional 915,512 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in shares of DoorDash by 36.5% in the first quarter. Goldman Sachs Group Inc. now owns 3,151,986 shares of the company's stock worth $576,089,000 after purchasing an additional 842,637 shares during the period. 90.64% of the stock is currently owned by institutional investors.

Insider Activity at DoorDash

In related news, Director Stanley Tang sold 45,410 shares of the company's stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $268.23, for a total transaction of $12,180,324.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Shona L. Brown sold 1,250 shares of the stock in a transaction on Thursday, October 9th. The shares were sold at an average price of $277.47, for a total transaction of $346,837.50. Following the completion of the sale, the director directly owned 37,252 shares in the company, valued at approximately $10,336,312.44. This represents a 3.25% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 993,105 shares of company stock valued at $248,566,566 over the last quarter. 5.83% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on DASH shares. Roth Capital upped their price target on shares of DoorDash from $191.00 to $225.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. Piper Sandler upped their price target on shares of DoorDash from $210.00 to $290.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. BMO Capital Markets upped their target price on shares of DoorDash from $238.00 to $288.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. BTIG Research upped their target price on shares of DoorDash from $225.00 to $265.00 and gave the stock a "buy" rating in a research report on Tuesday, July 1st. Finally, Loop Capital restated a "buy" rating on shares of DoorDash in a research report on Tuesday, July 15th. Four analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, DoorDash has an average rating of "Moderate Buy" and an average target price of $282.47.

DoorDash Price Performance

DoorDash stock opened at $266.67 on Friday. The company has a market cap of $113.92 billion, a price-to-earnings ratio of 148.15 and a beta of 1.71. The firm's fifty day moving average is $259.23 and its 200 day moving average is $229.01. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.30. DoorDash, Inc. has a 52-week low of $149.80 and a 52-week high of $285.50.

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

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.

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