Man Group plc Reduces Stake in DoorDash, Inc. (NASDAQ:DASH)

Man Group plc cut its position in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 15.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 579,788 shares of the company's stock after selling 102,701 shares during the period. Man Group plc owned 0.14% of DoorDash worth $97,259,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Swedbank AB boosted its stake in DoorDash by 3.3% during the fourth quarter. Swedbank AB now owns 171,055 shares of the company's stock worth $28,694,000 after buying an additional 5,539 shares during the last quarter. LVW Advisors LLC acquired a new position in DoorDash during the fourth quarter worth $236,000. Retireful LLC boosted its stake in DoorDash by 121.4% during the fourth quarter. Retireful LLC now owns 9,621 shares of the company's stock worth $1,614,000 after buying an additional 5,275 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new position in DoorDash during the fourth quarter worth $240,000. Finally, Merit Financial Group LLC acquired a new position in DoorDash during the fourth quarter worth $503,000. 90.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on DASH. UBS Group reduced their target price on DoorDash from $197.00 to $196.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. BMO Capital Markets restated an "outperform" rating on shares of DoorDash in a research report on Tuesday, April 29th. Roth Capital set a $191.00 target price on DoorDash and gave the company a "neutral" rating in a research report on Wednesday, May 7th. Loop Capital lifted their target price on DoorDash from $200.00 to $235.00 and gave the company a "buy" rating in a research report on Monday, February 24th. Finally, FBN Securities began coverage on DoorDash in a research report on Friday, March 28th. They issued an "outperform" rating and a $230.00 target price on the stock. Ten investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $209.97.

Insider Activity at DoorDash

In other DoorDash news, General Counsel Tia Sherringham sold 12,088 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $203.45, for a total transaction of $2,459,303.60. Following the completion of the sale, the general counsel now directly owns 122,135 shares of the company's stock, valued at $24,848,365.75. This represents a 9.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stanley Tang sold 45,410 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $181.21, for a total value of $8,228,746.10. Following the sale, the director now directly owns 18,285 shares of the company's stock, valued at approximately $3,313,424.85. This represents a 71.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 158,573 shares of company stock valued at $30,407,073 in the last three months. 5.83% of the stock is currently owned by company insiders.

DoorDash Stock Performance

Shares of NASDAQ:DASH traded up $4.90 on Friday, hitting $202.00. 4,181,856 shares of the company's stock were exchanged, compared to its average volume of 4,178,576. The firm's 50-day moving average is $186.03 and its 200 day moving average is $182.14. The company has a market capitalization of $84.86 billion, a PE ratio of 748.15 and a beta of 1.68. DoorDash, Inc. has a 1-year low of $99.32 and a 1-year high of $215.25.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.39 by $0.05. The firm had revenue of $3.03 billion during the quarter, compared to analysts' expectations of $3.10 billion. DoorDash had a return on equity of 1.67% and a net margin of 1.15%. The business's revenue was up 20.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.06) EPS. On average, analysts anticipate that DoorDash, Inc. will post 2.22 EPS 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.