Pathstone Holdings LLC Cuts Stake in DoorDash, Inc. (NASDAQ:DASH)

Pathstone Holdings LLC reduced its position in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 51.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,017 shares of the company's stock after selling 43,627 shares during the quarter. Pathstone Holdings LLC's holdings in DoorDash were worth $5,854,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Rakuten Securities Inc. lifted its position in DoorDash by 302.3% during the third quarter. Rakuten Securities Inc. now owns 173 shares of the company's stock valued at $25,000 after purchasing an additional 130 shares during the last quarter. Meeder Asset Management Inc. raised its position in DoorDash by 82.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 293 shares of the company's stock valued at $32,000 after purchasing an additional 132 shares during the last quarter. Headlands Technologies LLC purchased a new stake in DoorDash in the 2nd quarter worth approximately $32,000. Versant Capital Management Inc lifted its holdings in DoorDash by 340.8% in the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the company's stock worth $36,000 after buying an additional 259 shares during the period. Finally, Quest Partners LLC grew its position in shares of DoorDash by 146.8% in the 2nd quarter. Quest Partners LLC now owns 343 shares of the company's stock worth $37,000 after buying an additional 204 shares during the last quarter. Hedge funds and other institutional investors own 90.64% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on DASH. Keefe, Bruyette & Woods raised DoorDash from a "market perform" rating to an "outperform" rating and set a $177.00 price target for the company in a research note on Wednesday, September 25th. Wells Fargo & Company lifted their target price on shares of DoorDash from $127.00 to $142.00 and gave the company an "equal weight" rating in a research note on Friday, October 4th. Bank of America increased their price target on shares of DoorDash from $168.00 to $172.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. upped their target price on DoorDash from $137.00 to $155.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. Finally, Morgan Stanley raised their target price on DoorDash from $145.00 to $150.00 and gave the company an "overweight" rating in a research note on Friday, August 2nd. Ten analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat, DoorDash currently has an average rating of "Moderate Buy" and an average target price of $164.03.

Insider Buying and Selling at DoorDash

In related news, Director Andy Fang sold 50,000 shares of the business'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 transaction, the director now directly owns 18,089 shares in the company, valued at approximately $3,123,427.63. The trade was a 73.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Ravi Inukonda sold 7,000 shares of the firm's stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $127.86, for a total transaction of $895,020.00. Following the sale, the chief financial officer now owns 396,152 shares in the company, valued at approximately $50,651,994.72. The trade was a 1.74 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 547,753 shares of company stock valued at $84,544,996. Insiders own 7.92% of the company's stock.

DoorDash Price Performance

DoorDash stock traded up $4.07 during mid-day trading on Friday, reaching $177.24. 3,507,295 shares of the stock traded hands, compared to its average volume of 3,533,639. The stock has a market capitalization of $73.63 billion, a PE ratio of -393.87, a price-to-earnings-growth ratio of 13.31 and a beta of 1.67. DoorDash, Inc. has a 12-month low of $92.56 and a 12-month high of $178.16. The business's 50-day moving average is $153.61 and its 200-day moving average is $128.87.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, beating the consensus estimate 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 quarter in the prior year, the firm earned ($0.19) EPS. The business's revenue for the quarter was up 25.0% compared to the same quarter last year. Equities analysts anticipate that DoorDash, Inc. will post 0.26 EPS for the current fiscal year.

DoorDash Company 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.