Sands Capital Ventures LLC Sells 26,639 Shares of DoorDash, Inc. $DASH

Key Points

• Sands Capital Ventures LLC has reduced its stake in DoorDash, Inc. by 6.5%, now holding 380,704 shares worth approximately $69.58 million.
• Institutional investors own about 90.64% of DoorDash's stock, with Brighton Jones LLC increasing its position by 24.0% in the last quarter.
• DoorDash reported a 24.9% increase in revenue year-over-year, with an earnings per share (EPS) of $0.65, surpassing analysts' expectations of $0.42.

Sands Capital Ventures LLC trimmed its holdings in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 6.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 380,704 shares of the company's stock after selling 26,639 shares during the quarter. DoorDash accounts for about 17.0% of Sands Capital Ventures LLC's portfolio, making the stock its 3rd biggest holding. Sands Capital Ventures LLC owned 0.09% of DoorDash worth $69,581,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of DASH. Vanguard Group Inc. lifted its holdings in DoorDash by 25.8% in the 1st quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company's stock valued at $7,200,642,000 after acquiring an additional 8,073,882 shares during the last quarter. Invesco Ltd. boosted its holdings 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 buying an additional 1,416,194 shares during the period. Nuveen LLC purchased a new position in shares of DoorDash in the first quarter worth approximately $211,415,000. Deutsche Bank AG increased its position in shares of DoorDash by 111.3% in the first quarter. Deutsche Bank AG now owns 2,009,699 shares of the company's stock worth $367,313,000 after acquiring an additional 1,058,731 shares in the last quarter. Finally, Northern Trust Corp increased 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 acquiring an additional 915,512 shares in the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at DoorDash

In other DoorDash news, Director Andy Fang sold 50,000 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $275.74, for a total transaction of $13,787,000.00. Following the transaction, the director owned 22,545 shares in the company, valued at $6,216,558.30. This trade represents a 68.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Tony Xu sold 291,403 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $238.19, for a total value of $69,409,280.57. Following the transaction, the chief executive officer owned 229,047 shares in the company, valued at approximately $54,556,704.93. This trade represents a 55.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 905,179 shares of company stock worth $217,357,737 over the last 90 days. Insiders own 5.83% of the company's stock.

DoorDash Stock Up 0.9%

Shares of NASDAQ DASH traded up $2.14 during mid-day trading on Friday, reaching $247.32. The company had a trading volume of 2,811,511 shares, compared to its average volume of 3,882,916. The stock has a fifty day moving average of $242.93 and a two-hundred day moving average of $211.02. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.07 and a current ratio of 2.07. The company has a market capitalization of $105.66 billion, a price-to-earnings ratio of 137.40 and a beta of 1.70. DoorDash, Inc. has a 12-month low of $122.32 and a 12-month high of $278.15.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share (EPS) 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 business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same period in the previous year, the company earned ($0.38) EPS. The firm's revenue was up 24.9% on a year-over-year basis. As a group, equities research analysts expect that DoorDash, Inc. will post 2.22 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on DASH shares. DA Davidson lifted their target price on shares of DoorDash from $150.00 to $190.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Wells Fargo & Company lifted their target price on shares of DoorDash from $239.00 to $280.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 7th. Royal Bank Of Canada lifted their target price on shares of DoorDash from $230.00 to $300.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Jefferies Financial Group lifted their target price on shares of DoorDash from $250.00 to $265.00 and gave the stock a "hold" rating in a research report on Monday, August 11th. Finally, Wall Street Zen raised shares of DoorDash from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and thirteen have issued a Hold rating to the stock. According to data from MarketBeat.com, DoorDash presently has an average rating of "Moderate Buy" and a consensus price target of $263.88.

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.