DoorDash, Inc. (NASDAQ:DASH) Stake Reduced by Eagle Asset Management Inc.

Eagle Asset Management Inc. cut its stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 29.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 847,205 shares of the company's stock after selling 345,545 shares during the period. Eagle Asset Management Inc. owned 0.20% of DoorDash worth $120,922,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC raised its holdings in DoorDash by 0.8% in the second quarter. Brighton Jones LLC now owns 10,317 shares of the company's stock valued at $1,122,000 after buying an additional 82 shares during the period. Everhart Financial Group Inc. raised its stake in shares of DoorDash by 3.1% in the 2nd quarter. Everhart Financial Group Inc. now owns 3,267 shares of the company's stock valued at $355,000 after acquiring an additional 99 shares during the period. E Fund Management Co. Ltd. lifted its holdings in shares of DoorDash by 3.5% during the 2nd quarter. E Fund Management Co. Ltd. now owns 3,263 shares of the company's stock valued at $355,000 after acquiring an additional 111 shares in the last quarter. SJS Investment Consulting Inc. boosted its position in DoorDash by 21.0% during the 2nd quarter. SJS Investment Consulting Inc. now owns 673 shares of the company's stock worth $73,000 after purchasing an additional 117 shares during the period. Finally, Venturi Wealth Management LLC increased its holdings in DoorDash by 39.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 424 shares of the company's stock valued at $61,000 after purchasing an additional 119 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other DoorDash news, CEO Tony Xu sold 54,166 shares of the firm's stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $140.06, for a total transaction of $7,586,489.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Andy Fang sold 50,000 shares of the company's stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $172.67, for a total transaction of $8,633,500.00. Following the completion of the sale, the director now directly owns 18,089 shares of the company's stock, valued at approximately $3,123,427.63. This represents a 73.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 482,871 shares of company stock valued at $73,516,353 in the last three months. 7.92% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

DASH has been the topic of a number of recent research reports. Redburn Atlantic started coverage on DoorDash in a research note on Friday, July 26th. They set a "buy" rating and a $170.00 price objective on the stock. Roth Mkm upped their price target on DoorDash from $118.00 to $124.00 and gave the stock a "neutral" rating in a report on Monday, August 5th. KeyCorp lifted their price objective on shares of DoorDash from $177.00 to $180.00 and gave the company an "overweight" rating in a research note on Thursday, October 31st. Barclays upped their target price on shares of DoorDash from $120.00 to $163.00 and gave the company an "equal weight" rating in a research note on Friday, November 1st. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $160.00 price target on shares of DoorDash in a research note on Monday, October 7th. Ten analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, DoorDash has a consensus rating of "Moderate Buy" and a consensus target price of $164.03.

DoorDash Stock Up 1.8 %

DASH stock traded up $3.17 during mid-day trading on Friday, reaching $176.34. The company had a trading volume of 1,871,523 shares, compared to its average volume of 3,794,404. The stock's 50-day simple moving average is $152.69 and its two-hundred day simple moving average is $128.46. The stock has a market capitalization of $73.25 billion, a P/E ratio of -385.88, a P/E/G ratio of 14.82 and a beta of 1.67. DoorDash, Inc. has a one year low of $92.56 and a one year high of $178.16.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.21 by $0.17. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The firm had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same period in the previous year, the business posted ($0.19) EPS. DoorDash's revenue was up 25.0% on a year-over-year basis. On average, research analysts forecast that DoorDash, Inc. will post 0.24 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.