Wellington Management Group LLP Sells 311,913 Shares of DoorDash, Inc. $DASH

Key Points

• Wellington Management Group LLP decreased its holdings in DoorDash, Inc. by 22.6% during the 1st quarter, owning 1,069,253 shares after selling 311,913 shares.
• Several analysts raised their price targets for DoorDash, with Wells Fargo increasing theirs from $239.00 to $280.00 and maintaining an "equal weight" rating on the stock.
• Insider trades were notable, with Director Andy Fang selling 50,000 shares for approximately $13.79 million, representing a 68.92% decrease in his position.

Wellington Management Group LLP lowered its holdings in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 22.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,069,253 shares of the company's stock after selling 311,913 shares during the period. Wellington Management Group LLP owned approximately 0.25% of DoorDash worth $195,427,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Harbour Investments Inc. lifted its stake in shares of DoorDash by 55.6% in the first quarter. Harbour Investments Inc. now owns 196 shares of the company's stock worth $36,000 after buying an additional 70 shares in the last quarter. SouthState Corp lifted its position in DoorDash by 762.5% in the 1st quarter. SouthState Corp now owns 207 shares of the company's stock valued at $38,000 after acquiring an additional 183 shares in the last quarter. ORG Partners LLC lifted its position in DoorDash by 404.0% in the 1st quarter. ORG Partners LLC now owns 252 shares of the company's stock valued at $46,000 after acquiring an additional 202 shares in the last quarter. Rothschild Investment LLC lifted its position in DoorDash by 1,452.9% in the 1st quarter. Rothschild Investment LLC now owns 264 shares of the company's stock valued at $48,000 after acquiring an additional 247 shares in the last quarter. Finally, Mizuho Securities Co. Ltd. lifted its position in DoorDash by 150.0% in the 1st quarter. Mizuho Securities Co. Ltd. now owns 300 shares of the company's stock valued at $55,000 after acquiring an additional 180 shares in the last quarter. Institutional investors own 90.64% of the company's stock.

Insider Activity

In other news, CEO Tony Xu sold 291,403 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer directly owned 229,047 shares in the company, valued at $54,556,704.93. The trade was a 55.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stanley Tang sold 45,410 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $240.69, for a total value of $10,929,732.90. Following the completion of the transaction, the director owned 26,070 shares in the company, valued at $6,274,788.30. The trade was a 63.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 905,179 shares of company stock worth $217,357,737 over the last ninety days. Corporate insiders own 5.83% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently commented on DASH shares. Benchmark increased their price objective on DoorDash from $260.00 to $315.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. BMO Capital Markets raised their target price on DoorDash from $238.00 to $288.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. UBS Group raised their target price on DoorDash from $260.00 to $280.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Royal Bank Of Canada raised their target price on DoorDash from $230.00 to $300.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Finally, Raymond James Financial reissued a "strong-buy" rating and issued a $325.00 target price (up from $275.00) 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 stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $263.88.

DoorDash Stock Performance

Shares of DASH stock traded down $0.6580 during mid-day trading on Monday, reaching $246.6620. 1,251,421 shares of the company's stock traded hands, compared to its average volume of 4,698,918. DoorDash, Inc. has a 12 month low of $122.32 and a 12 month high of $278.15. The firm has a 50 day moving average price of $242.93 and a two-hundred day moving average price of $211.13. 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 firm has a market capitalization of $105.37 billion, a PE ratio of 137.09 and a beta of 1.70.

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