Wilmington Savings Fund Society FSB Decreases Stock Holdings in DoorDash, Inc. $DASH

Key Points

• Wilmington Savings Fund Society FSB decreased its holdings in DoorDash by 17.9%, owning 8,638 shares valued at approximately $2.13 million after selling 1,888 shares in the second quarter.
• DoorDash's CEO, Tony Xu, sold 291,403 shares of the company for over $69 million, which represents a significant decrease in his ownership.
• Analysts have raised their price targets for DoorDash, with Truist Financial increasing it to $326, reflecting growing investor confidence and a consensus rating of "Moderate Buy".

Wilmington Savings Fund Society FSB reduced its position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 17.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,638 shares of the company's stock after selling 1,888 shares during the period. Wilmington Savings Fund Society FSB's holdings in DoorDash were worth $2,129,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of DASH. Vanguard Group Inc. lifted its position in shares of DoorDash by 25.8% during the 1st quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company's stock worth $7,200,642,000 after purchasing an additional 8,073,882 shares during the last quarter. AQR Capital Management LLC lifted its position in DoorDash by 442.5% in the first quarter. AQR Capital Management LLC now owns 1,836,122 shares of the company's stock valued at $321,799,000 after acquiring an additional 1,497,636 shares during the last quarter. Invesco Ltd. lifted its position in DoorDash by 41.9% in the first 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. Nuveen LLC purchased a new stake in DoorDash in the first quarter valued at $211,415,000. Finally, Deutsche Bank AG lifted its position in DoorDash by 111.3% in the first quarter. Deutsche Bank AG now owns 2,009,699 shares of the company's stock valued at $367,313,000 after acquiring an additional 1,058,731 shares during the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

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 shares were sold at an average price of $238.19, for a total transaction 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 SEC, which is available through this link. Also, Director Andy Fang sold 50,000 shares of the business's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $275.74, for a total transaction of $13,787,000.00. Following the transaction, the director owned 22,545 shares in the company, valued at approximately $6,216,558.30. This trade represents a 68.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 968,137 shares of company stock valued at $241,767,280. 5.83% of the stock is owned by insiders.

DoorDash Trading Up 0.8%

NASDAQ DASH opened at $272.61 on Thursday. 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 cap of $116.46 billion, a PE ratio of 151.45 and a beta of 1.71. DoorDash, Inc. has a one year low of $147.31 and a one year high of $285.08. The firm's fifty day moving average is $259.32 and its two-hundred day moving average is $228.44.

DoorDash (NASDAQ:DASH - Get Free Report) last posted 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 company had revenue of $3.28 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the business posted ($0.38) earnings per share. Analysts expect that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

DASH has been the subject of a number of research reports. Truist Financial boosted their price target on shares of DoorDash from $272.00 to $326.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Morgan Stanley boosted their price target on shares of DoorDash from $275.00 to $300.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Roth Capital boosted their price target on shares of DoorDash from $191.00 to $225.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. Wall Street Zen raised shares of DoorDash from a "hold" rating to a "buy" rating in a research report on Saturday, October 11th. Finally, Guggenheim set a $330.00 price target on shares of DoorDash in a research report on Tuesday. Three research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, DoorDash presently has a consensus rating of "Moderate Buy" and an average target price of $281.29.

About DoorDash

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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