University of Texas Texas AM Investment Management Co. Sells 10,896 Shares of DoorDash, Inc. (NASDAQ:DASH)

Key Points

• The University of Texas Texas AM Investment Management Co. reduced its stake in DoorDash, Inc. by 38.1%, selling 10,896 shares for a total holding valued at approximately $3.23 million.
• DoorDash's stock increased by 2.6%, with a current price of $249.92, showing significant growth compared to its 52-week low of $102.81.
• Institutional investors now own 90.64% of DoorDash's stock, while analysts maintain a consensus rating of “Moderate Buy” with an average price target of $232.12.

University of Texas Texas AM Investment Management Co. lessened its position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 38.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,696 shares of the company's stock after selling 10,896 shares during the period. University of Texas Texas AM Investment Management Co.'s holdings in DoorDash were worth $3,234,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. ORG Partners LLC boosted its holdings in DoorDash by 404.0% in the first quarter. ORG Partners LLC now owns 252 shares of the company's stock valued at $46,000 after purchasing an additional 202 shares during the last quarter. Rothschild Investment LLC boosted its stake in shares of DoorDash by 1,452.9% during 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 during the last quarter. Mizuho Securities Co. Ltd. boosted its stake in shares of DoorDash by 150.0% during 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 during the last quarter. Washington Trust Advisors Inc. purchased a new position in shares of DoorDash during the 1st quarter valued at approximately $56,000. Finally, Cromwell Holdings LLC purchased a new position in shares of DoorDash during the 1st quarter valued at approximately $58,000. Hedge funds and other institutional investors own 90.64% of the company's stock.

Insider Transactions at DoorDash

In other news, COO Prabir Adarkar sold 30,000 shares of the company's stock in a transaction that occurred on Thursday, July 24th. The stock was sold at an average price of $243.02, for a total value of $7,290,600.00. Following the sale, the chief operating officer directly owned 942,554 shares in the company, valued at approximately $229,059,473.08. This represents a 3.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Shona L. Brown sold 825 shares of the company's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $250.00, for a total value of $206,250.00. Following the completion of the sale, the director owned 43,477 shares in the company, valued at $10,869,250. This trade represents a 1.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 508,189 shares of company stock worth $115,099,939. 5.83% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Benchmark increased their price objective on shares of DoorDash from $225.00 to $260.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Sanford C. Bernstein increased their price target on shares of DoorDash from $210.00 to $265.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. JPMorgan Chase & Co. reduced their target price on DoorDash from $205.00 to $175.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Roth Capital increased their target price on DoorDash from $191.00 to $225.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. Finally, Wells Fargo & Company raised their price objective on DoorDash from $198.00 to $239.00 and gave the stock an "equal weight" rating in a research note on Monday, July 7th. Eleven investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, DoorDash currently has an average rating of "Moderate Buy" and a consensus target price of $235.56.

DoorDash Stock Performance

Shares of NASDAQ:DASH traded up $2.65 on Thursday, hitting $250.65. 1,117,927 shares of the company were exchanged, compared to its average volume of 4,764,293. The company's 50 day moving average price is $228.81 and its two-hundred day moving average price is $202.36. DoorDash, Inc. has a one year low of $105.91 and a one year high of $252.87. The firm has a market capitalization of $106.21 billion, a price-to-earnings ratio of 325.71 and a beta of 1.70.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.05. The firm had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.10 billion. DoorDash had a return on equity of 4.39% and a net margin of 3.02%. The company's quarterly revenue was up 20.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.06) earnings per share. 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.