DoorDash, Inc. $DASH Shares Sold by Voleon Capital Management LP

Key Points

• Voleon Capital Management LP reduced its holdings in DoorDash by 13.1% in the first quarter, now holding 54,193 shares valued at $9.91 million.
• Institutional investors own 90.64% of DoorDash stock, with several firms increasing their positions significantly in the recent quarter.
• Analysts maintain a Moderate Buy rating on DoorDash, with price targets ranging from $264.65 to $335.00.

Voleon Capital Management LP decreased its stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 13.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 54,193 shares of the company's stock after selling 8,140 shares during the quarter. DoorDash makes up 0.8% of Voleon Capital Management LP's investment portfolio, making the stock its 25th biggest holding. Voleon Capital Management LP's holdings in DoorDash were worth $9,905,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Saudi Central Bank acquired a new position in shares of DoorDash during the 1st quarter worth about $25,000. WPG Advisers LLC acquired a new stake in shares of DoorDash in the 1st quarter valued at about $26,000. Pacific Center for Financial Services acquired a new stake in shares of DoorDash in the 1st quarter valued at about $27,000. Harbour Investments Inc. boosted its position in shares of DoorDash by 55.6% in the 1st quarter. Harbour Investments Inc. now owns 196 shares of the company's stock valued at $36,000 after purchasing an additional 70 shares during the period. Finally, SouthState Corp boosted its position in shares of DoorDash by 762.5% in the 1st quarter. SouthState Corp now owns 207 shares of the company's stock valued at $38,000 after purchasing an additional 183 shares during the period. Hedge funds and other institutional investors own 90.64% of the company's stock.

Insider Transactions at DoorDash

In related news, CEO Tony Xu sold 291,403 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $238.19, for a total value of $69,409,280.57. Following the completion of the transaction, the chief executive officer directly owned 229,047 shares of the company's stock, valued at $54,556,704.93. This trade represents a 55.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Prabir Adarkar sold 41,881 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $245.82, for a total value 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. The trade was a 4.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,019,042 shares of company stock valued at $248,122,219. Company insiders own 5.83% of the company's stock.

Analyst Upgrades and Downgrades

DASH has been the subject of a number of research analyst reports. Piper Sandler upped their target price on DoorDash from $210.00 to $290.00 and gave the company a "neutral" rating in a research report on Thursday, August 7th. Evercore ISI reaffirmed an "outperform" rating and set a $360.00 price objective (up from $240.00) on shares of DoorDash in a research report on Friday, August 8th. Citigroup reaffirmed an "outperform" rating on shares of DoorDash in a research report on Thursday, August 7th. Sanford C. Bernstein increased their price objective on DoorDash from $210.00 to $265.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. Finally, Loop Capital reaffirmed a "buy" rating on shares of DoorDash in a research report on Tuesday, July 15th. One equities research 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 has a consensus rating of "Moderate Buy" and an average target price of $266.71.

DoorDash Stock Performance

Shares of DASH stock traded down $2.21 during trading hours on Friday, reaching $257.98. 2,065,400 shares of the company's stock were exchanged, compared to its average volume of 4,557,297. The company has a market cap of $110.21 billion, a P/E ratio of 143.32 and a beta of 1.70. The company's 50 day moving average is $247.83 and its two-hundred day moving average is $215.48. DoorDash, Inc. has a 1 year low of $126.90 and a 1 year high of $278.15. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.07 and a quick ratio of 2.07.

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