Victory Capital Management Inc. Reduces Stock Position in DoorDash, Inc. (NASDAQ:DASH)

Victory Capital Management Inc. lessened its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 2.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 256,326 shares of the company's stock after selling 7,547 shares during the period. Victory Capital Management Inc. owned 0.06% of DoorDash worth $36,585,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Rakuten Securities Inc. increased its position in DoorDash by 302.3% in the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company's stock valued at $25,000 after acquiring an additional 130 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of DoorDash by 16.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 782,929 shares of the company's stock valued at $111,747,000 after purchasing an additional 111,846 shares during the last quarter. Baillie Gifford & Co. increased its holdings in shares of DoorDash by 13.2% in the third quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company's stock valued at $2,018,584,000 after purchasing an additional 1,645,186 shares during the period. GSA Capital Partners LLP raised its stake in shares of DoorDash by 93.2% during the third quarter. GSA Capital Partners LLP now owns 7,690 shares of the company's stock worth $1,098,000 after purchasing an additional 3,710 shares during the last quarter. Finally, Entropy Technologies LP lifted its holdings in shares of DoorDash by 71.0% during the third quarter. Entropy Technologies LP now owns 10,994 shares of the company's stock worth $1,569,000 after purchasing an additional 4,564 shares during the period. Hedge funds and other institutional investors own 90.64% of the company's stock.

Insider Activity

In other news, COO Prabir Adarkar sold 32,124 shares of DoorDash stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $147.99, for a total transaction of $4,754,030.76. Following the sale, the chief operating officer now owns 963,094 shares in the company, valued at $142,528,281.06. This trade represents a 3.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Ravi Inukonda sold 7,000 shares of the company'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 transaction, the chief financial officer now owns 396,152 shares of the company's stock, valued at $50,651,994.72. This trade represents a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 324,539 shares of company stock valued at $46,439,330. Company insiders own 7.92% of the company's stock.

DoorDash Trading Down 2.5 %

Shares of DoorDash stock traded down $4.37 during trading hours on Friday, reaching $169.43. The stock had a trading volume of 3,602,035 shares, compared to its average volume of 3,172,539. The firm has a market capitalization of $70.38 billion, a price-to-earnings ratio of -376.51, a P/E/G ratio of 14.26 and a beta of 1.67. DoorDash, Inc. has a 1 year low of $92.56 and a 1 year high of $178.16. The firm has a 50 day simple moving average of $149.01 and a two-hundred day simple moving average of $126.98.

DoorDash (NASDAQ:DASH - Get Free Report) last posted 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 for the quarter, compared to analyst estimates of $2.66 billion. During the same quarter last year, the firm posted ($0.19) earnings per share. DoorDash's revenue for the quarter was up 25.0% compared to the same quarter last year. Sell-side analysts forecast that DoorDash, Inc. will post 0.24 EPS for the current year.

Wall Street Analysts Forecast Growth

DASH has been the topic of several recent research reports. DA Davidson boosted their price objective on shares of DoorDash from $119.00 to $150.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. The Goldman Sachs Group upped their price target on DoorDash from $142.00 to $161.00 and gave the stock a "neutral" rating in a report on Friday, November 1st. Oppenheimer lifted their price objective on DoorDash from $145.00 to $160.00 and gave the stock an "outperform" rating in a report on Friday, September 27th. Piper Sandler upped their target price on DoorDash from $125.00 to $160.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Finally, Bank of America lifted their price target on DoorDash from $168.00 to $172.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Ten equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat, DoorDash has an average rating of "Moderate Buy" and a consensus price target of $164.03.

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.