SVB Wealth LLC Sells 1,149 Shares of DoorDash, Inc. $DASH

Key Points

• SVB Wealth LLC reduced its stake in DoorDash, Inc. by 17.4%, ending the first quarter with 5,456 shares valued at approximately $997,000.
• Several institutional investors significantly increased their positions in DoorDash, with Harbour Investments and SouthState Corp raising stakes by 55.6% and 762.5%, respectively.
• DoorDash reported a 24.9% year-over-year revenue growth for the last quarter, totaling $3.28 billion, while also exceeding earnings expectations with $0.65 earnings per share.

SVB Wealth LLC trimmed its position in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 17.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,456 shares of the company's stock after selling 1,149 shares during the quarter. SVB Wealth LLC's holdings in DoorDash were worth $997,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of 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. Price T Rowe Associates Inc. MD increased its holdings in shares of DoorDash by 15.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,907,970 shares of the company's stock valued at $897,031,000 after acquiring an additional 641,601 shares during the last quarter. Invesco Ltd. increased its holdings in shares of DoorDash by 41.9% in the 1st quarter. Invesco Ltd. now owns 4,799,851 shares of the company's stock valued at $877,269,000 after acquiring an additional 1,416,194 shares during the last quarter. Northern Trust Corp increased its holdings in shares of DoorDash by 38.2% in the 1st quarter. Northern Trust Corp now owns 3,309,237 shares of the company's stock valued at $604,829,000 after acquiring an additional 915,512 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of DoorDash by 36.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,151,986 shares of the company's stock valued at $576,089,000 after acquiring an additional 842,637 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

DASH has been the subject of a number of recent research reports. Sanford C. Bernstein upped their price objective on DoorDash from $210.00 to $265.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. Truist Financial increased their target price on DoorDash from $272.00 to $326.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Loop Capital reaffirmed a "buy" rating on shares of DoorDash in a research report on Tuesday, July 15th. Morgan Stanley increased their target price on DoorDash from $275.00 to $300.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Finally, Citigroup reaffirmed an "outperform" rating on shares of DoorDash in a research report on Thursday, August 7th. 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 company's stock. Based on data from MarketBeat.com, DoorDash has an average rating of "Moderate Buy" and an average target price of $263.88.

Insiders Place Their Bets

In other news, COO Prabir Adarkar sold 41,881 shares of the company's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $245.82, for a total transaction of $10,295,187.42. Following the completion of the transaction, the chief operating officer directly owned 914,547 shares of the company's stock, valued at $224,813,943.54. This represents a 4.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stanley Tang sold 45,410 shares of the company's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $240.69, for a total value of $10,929,732.90. Following the sale, 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 932,764 shares of company stock worth $224,714,524. 5.83% of the stock is owned by company insiders.

DoorDash Trading Up 0.7%

Shares of NASDAQ:DASH traded up $1.68 during midday trading on Thursday, reaching $247.33. The company had a trading volume of 1,857,045 shares, compared to its average volume of 4,666,458. 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 $122.32 and a 1-year high of $278.15. The firm has a market cap of $105.66 billion, a price-to-earnings ratio of 137.41 and a beta of 1.70. The company has a fifty day simple moving average of $244.49 and a two-hundred day simple moving average of $211.97.

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

DoorDash Company 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.