V Square Quantitative Management LLC Trims Holdings in DoorDash, Inc. $DASH

Key Points

• V Square Quantitative Management LLC reduced its holdings in DoorDash, Inc. by 80.6%, owning only 2,151 shares after selling 8,927 shares in the second quarter.
• A significant part of DoorDash's ownership is with institutional investors, who own approximately 90.64% of the company's stock.
• Analysts have increased their price targets for DoorDash, with JMP Securities raising it from $250 to $335 and Morgan Stanley from $275 to $300, indicating a strong market outlook for the stock.

V Square Quantitative Management LLC decreased its holdings in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 80.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,151 shares of the company's stock after selling 8,927 shares during the quarter. V Square Quantitative Management LLC's holdings in DoorDash were worth $530,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Night Squared LP purchased a new stake in DoorDash in the 1st quarter valued at $2,780,000. Mutual of America Capital Management LLC purchased a new position in DoorDash during the 1st quarter worth $7,200,000. Public Investment Fund raised its position in DoorDash by 68.3% during the 1st quarter. Public Investment Fund now owns 821,389 shares of the company's stock worth $150,125,000 after buying an additional 333,369 shares during the last quarter. Ardmore Road Asset Management LP raised its position in DoorDash by 6.7% during the 1st quarter. Ardmore Road Asset Management LP now owns 80,000 shares of the company's stock worth $14,622,000 after buying an additional 5,000 shares during the last quarter. Finally, Junto Capital Management LP purchased a new position in DoorDash during the 1st quarter worth $29,261,000. Hedge funds and other institutional investors own 90.64% of the company's stock.

Insider Transactions at DoorDash

In related news, CFO Ravi Inukonda sold 1,425 shares of the stock in a transaction dated Wednesday, September 24th. The shares were sold at an average price of $266.16, for a total value of $379,278.00. Following the sale, the chief financial officer directly owned 214,772 shares of the company's stock, valued at approximately $57,163,715.52. This represents a 0.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Tia Sherringham sold 2,924 shares of the stock in a transaction dated Wednesday, September 3rd. The shares were sold at an average price of $250.00, for a total transaction of $731,000.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 861,841 shares of company stock worth $212,060,742 in the last 90 days. Insiders own 5.83% of the company's stock.

Wall Street Analyst Weigh In

DASH has been the subject of a number of analyst reports. JMP Securities upped their price objective on shares of DoorDash from $250.00 to $335.00 and gave the stock a "market outperform" rating in a research report on Thursday, August 7th. Morgan Stanley upped their price objective on shares of DoorDash from $275.00 to $300.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Loop Capital restated a "buy" rating on shares of DoorDash in a research report on Tuesday, July 15th. Benchmark upped their price objective on shares of DoorDash from $260.00 to $315.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Finally, Bank of America upped their price objective on shares of DoorDash from $230.00 to $245.00 and gave the stock a "buy" rating in a research report on Thursday, June 12th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and thirteen have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $275.42.

DoorDash Stock Performance

Shares of DASH opened at $271.99 on Wednesday. The company has a 50-day simple moving average of $254.02 and a 200-day simple moving average of $222.46. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $116.19 billion, a PE ratio of 151.11 and a beta of 1.70. DoorDash, Inc. has a 52-week low of $140.53 and a 52-week high of $278.15.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, beating analysts' consensus estimates of $0.42 by $0.23. The firm had revenue of $3.28 billion for the quarter, compared to analysts' expectations of $3.16 billion. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. The firm's revenue was up 24.9% on a year-over-year basis. During the same period in the prior year, the company earned ($0.38) EPS. Equities research analysts predict 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.

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