Jasper Ridge Partners L.P. Lowers Stock Holdings in DoorDash, Inc. (NASDAQ:DASH)

Jasper Ridge Partners L.P. lowered its stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 28.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 54,479 shares of the company's stock after selling 22,000 shares during the period. Jasper Ridge Partners L.P.'s holdings in DoorDash were worth $9,139,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Pittenger & Anderson Inc. bought a new stake in shares of DoorDash during the fourth quarter worth about $29,000. Denver PWM LLC bought a new stake in shares of DoorDash during the fourth quarter worth about $30,000. Princeton Global Asset Management LLC bought a new stake in shares of DoorDash during the fourth quarter worth about $34,000. ORG Wealth Partners LLC bought a new stake in shares of DoorDash during the fourth quarter worth about $36,000. Finally, IFP Advisors Inc increased its position in shares of DoorDash by 31.8% during the fourth quarter. IFP Advisors Inc now owns 224 shares of the company's stock worth $37,000 after acquiring an additional 54 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on DASH shares. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $210.00 price objective on shares of DoorDash in a research report on Wednesday, May 7th. Oppenheimer reaffirmed a "hold" rating on shares of DoorDash in a research report on Monday, March 10th. Evercore ISI reaffirmed an "outperform" rating on shares of DoorDash in a research report on Monday, March 10th. UBS Group reduced their price objective on shares of DoorDash from $197.00 to $196.00 and set a "neutral" rating for the company in a research report on Wednesday, May 7th. Finally, FBN Securities started coverage on shares of DoorDash in a research report on Friday, March 28th. They issued an "outperform" rating and a $230.00 price objective for the company. Ten analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $209.97.

Insiders Place Their Bets

In other news, CFO Ravi Inukonda sold 1,425 shares of the company's stock in a transaction on Friday, April 25th. The shares were sold at an average price of $187.22, for a total value of $266,788.50. Following the transaction, the chief financial officer now owns 337,430 shares of the company's stock, valued at approximately $63,173,644.60. This represents a 0.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Andy Fang sold 1,398 shares of the company's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $203.45, for a total transaction of $284,423.10. Following the completion of the transaction, the director now directly owns 14,778 shares in the company, valued at approximately $3,006,584.10. The trade was a 8.64% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 158,573 shares of company stock worth $30,407,073 over the last 90 days. Corporate insiders own 7.92% of the company's stock.

DoorDash Price Performance

Shares of NASDAQ:DASH traded down $0.96 during trading on Wednesday, hitting $196.84. 3,504,508 shares of the company were exchanged, compared to its average volume of 4,172,045. The company has a market cap of $82.69 billion, a PE ratio of 729.04 and a beta of 1.68. The stock has a 50 day moving average of $185.28 and a 200 day moving average of $181.52. DoorDash, Inc. has a 52-week low of $99.32 and a 52-week high of $215.25.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.05. The firm had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.10 billion. DoorDash had a return on equity of 1.67% and a net margin of 1.15%. The business's quarterly revenue was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.06) earnings per share. Sell-side analysts forecast that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

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.