Penserra Capital Management LLC Sells 6,067 Shares of DoorDash, Inc. (NASDAQ:DASH)

Penserra Capital Management LLC lessened its stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 17.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,869 shares of the company's stock after selling 6,067 shares during the quarter. Penserra Capital Management LLC's holdings in DoorDash were worth $3,976,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Rakuten Securities Inc. grew its holdings in DoorDash by 302.3% during the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company's stock worth $25,000 after acquiring an additional 130 shares in the last quarter. Meeder Asset Management Inc. grew its stake in DoorDash by 82.0% in the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company's stock worth $32,000 after purchasing an additional 132 shares in the last quarter. Headlands Technologies LLC acquired a new position in DoorDash in the second quarter worth about $32,000. Versant Capital Management Inc grew its stake in DoorDash by 340.8% in the second quarter. Versant Capital Management Inc now owns 335 shares of the company's stock worth $36,000 after purchasing an additional 259 shares in the last quarter. Finally, Quest Partners LLC grew its stake in DoorDash by 146.8% in the second quarter. Quest Partners LLC now owns 343 shares of the company's stock worth $37,000 after purchasing an additional 204 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on DASH. Roth Mkm lifted their price target on DoorDash from $118.00 to $124.00 and gave the stock a "neutral" rating in a research note on Monday, August 5th. Jefferies Financial Group boosted their price objective on shares of DoorDash from $155.00 to $180.00 and gave the company a "buy" rating in a research report on Tuesday, October 22nd. Wedbush reiterated a "neutral" rating and set a $115.00 price objective on shares of DoorDash in a research note on Friday, August 2nd. JPMorgan Chase & Co. lifted their target price on DoorDash from $137.00 to $155.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Finally, Loop Capital increased their price target on DoorDash from $170.00 to $200.00 and gave the stock a "buy" rating in a research report on Tuesday, November 12th. Ten analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $164.03.

DoorDash Trading Down 0.1 %

NASDAQ DASH traded down $0.09 during trading on Tuesday, reaching $179.01. The company's stock had a trading volume of 2,739,546 shares, compared to its average volume of 3,798,696. The business has a 50-day moving average price of $154.57 and a 200-day moving average price of $129.52. DoorDash, Inc. has a 1-year low of $92.56 and a 1-year high of $181.30. The stock has a market capitalization of $74.36 billion, a PE ratio of -398.00, a PEG ratio of 13.63 and a beta of 1.67.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, topping analysts' consensus estimates of $0.21 by $0.17. The business had revenue of $2.71 billion during the quarter, compared to analysts' expectations of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. DoorDash's revenue for the quarter was up 25.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.19) earnings per share. As a group, analysts expect that DoorDash, Inc. will post 0.26 earnings per share for the current year.

Insider Transactions at DoorDash

In other news, insider Keith Yandell sold 5,509 shares of the stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $176.24, for a total value of $970,906.16. Following the completion of the transaction, the insider now directly owns 118,712 shares of the company's stock, valued at approximately $20,921,802.88. This represents a 4.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Ravi Inukonda sold 7,000 shares of the business's stock in a transaction on Friday, August 30th. The shares were sold at an average price of $127.86, for a total transaction of $895,020.00. Following the completion of the sale, the chief financial officer now owns 396,152 shares in the company, valued at $50,651,994.72. This represents a 1.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 553,262 shares of company stock worth $85,515,902 over the last three months. 7.92% of the stock is currently owned by insiders.

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.