DoorDash, Inc. (NASDAQ:DASH) Shares Sold by MML Investors Services LLC

MML Investors Services LLC decreased its holdings in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 21.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,943 shares of the company's stock after selling 5,826 shares during the quarter. MML Investors Services LLC's holdings in DoorDash were worth $3,132,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Orion Portfolio Solutions LLC increased its position in shares of DoorDash by 31.1% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 8,206 shares of the company's stock worth $1,171,000 after purchasing an additional 1,946 shares during the last quarter. iA Global Asset Management Inc. increased its position in shares of DoorDash by 4.6% during the third quarter. iA Global Asset Management Inc. now owns 39,208 shares of the company's stock valued at $5,596,000 after acquiring an additional 1,713 shares during the last quarter. EP Wealth Advisors LLC acquired a new stake in shares of DoorDash during the third quarter valued at about $829,000. Insigneo Advisory Services LLC raised its stake in shares of DoorDash by 7.9% in the 3rd quarter. Insigneo Advisory Services LLC now owns 2,210 shares of the company's stock valued at $315,000 after acquiring an additional 161 shares during the period. Finally, Worldquant Millennium Advisors LLC lifted its holdings in shares of DoorDash by 1,358.0% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 319,062 shares of the company's stock worth $45,540,000 after acquiring an additional 297,179 shares during the last quarter. Hedge funds and other institutional investors own 90.64% of the company's stock.

Insider Transactions at DoorDash

In other news, CEO Tony Xu sold 54,166 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $140.06, for a total transaction of $7,586,489.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andy Fang sold 50,000 shares of the firm's stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $143.76, for a total value of $7,188,000.00. Following the completion of the sale, the director now directly owns 18,089 shares of the company's stock, valued at approximately $2,600,474.64. This trade represents a 73.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 793,196 shares of company stock worth $131,015,818 over the last 90 days. 7.92% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on DASH shares. JPMorgan Chase & Co. lifted their target price on shares of DoorDash from $137.00 to $155.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Keefe, Bruyette & Woods raised DoorDash from a "market perform" rating to an "outperform" rating and set a $177.00 target price on the stock in a research note on Wednesday, September 25th. Needham & Company LLC raised their target price on DoorDash from $145.00 to $180.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Oppenheimer boosted their price target on shares of DoorDash from $145.00 to $160.00 and gave the stock an "outperform" rating in a research note on Friday, September 27th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $160.00 price objective 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 issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $167.27.

DoorDash Stock Performance

NASDAQ DASH traded down $0.93 on Friday, reaching $175.09. The stock had a trading volume of 2,305,444 shares, compared to its average volume of 3,730,281. The stock has a market cap of $72.73 billion, a P/E ratio of -389.09, a price-to-earnings-growth ratio of 13.56 and a beta of 1.70. DoorDash, Inc. has a 12-month low of $93.33 and a 12-month high of $181.30. The business's 50-day moving average price is $164.81 and its 200 day moving average price is $135.73.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its quarterly earnings results 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. 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 analysts' expectations of $2.66 billion. During the same quarter in the prior year, the business earned ($0.19) EPS. DoorDash's quarterly revenue was up 25.0% compared to the same quarter last year. On average, sell-side analysts predict that DoorDash, Inc. will post 0.26 earnings per share for the current 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.