Adero Partners LLC Sells 1,535 Shares of DoorDash, Inc. (NASDAQ:DASH)

Adero Partners LLC decreased its holdings in DoorDash, Inc. (NASDAQ:DASH) by 0.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 267,032 shares of the company’s stock after selling 1,535 shares during the period. DoorDash accounts for approximately 2.5% of Adero Partners LLC’s holdings, making the stock its 11th biggest holding. Adero Partners LLC owned 0.06% of DoorDash worth $38,113,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Janus Henderson Group PLC raised its position in DoorDash by 11,416.7% in the 1st quarter. Janus Henderson Group PLC now owns 3,455,116 shares of the company’s stock worth $475,837,000 after purchasing an additional 3,425,115 shares during the period. Baillie Gifford & Co. raised its position in DoorDash by 13.2% in the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock worth $2,018,584,000 after purchasing an additional 1,645,186 shares during the period. Dragoneer Investment Group LLC raised its position in DoorDash by 77.9% in the 2nd quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company’s stock worth $309,755,000 after purchasing an additional 1,246,567 shares during the period. Canada Pension Plan Investment Board raised its position in DoorDash by 595.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 891,879 shares of the company’s stock worth $122,830,000 after purchasing an additional 763,579 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in DoorDash by 216.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,082,362 shares of the company’s stock worth $154,486,000 after purchasing an additional 739,961 shares during the period. Institutional investors own 90.64% of the company’s stock.

Insider Buying and Selling

In related news, CFO Ravi Inukonda sold 7,000 shares of the firm’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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the transaction, the director now directly owns 18,089 shares of the company’s stock, valued at approximately $2,355,187.80. This trade represents a 73.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 324,539 shares of company stock valued at $46,439,330 over the last 90 days. Insiders own 7.92% of the company’s stock.

DoorDash Trading Down 2.5 %

NASDAQ:DASH opened at $169.43 on Friday. DoorDash, Inc. has a 12 month low of $92.56 and a 12 month high of $178.16. The firm has a fifty day simple moving average of $149.01 and a 200-day simple moving average of $126.98.

DoorDash (NASDAQ:DASH) last issued its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $2.66 billion. During the same quarter last year, the company posted ($0.19) earnings per share. The firm’s revenue was up 25.0% compared to the same quarter last year. On average, sell-side analysts predict that DoorDash, Inc. will post 0.24 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Raymond James assumed coverage on shares of DoorDash in a research report on Tuesday, September 24th. They set an “outperform” rating and a $155.00 target price on the stock. KeyCorp raised their target price on shares of DoorDash from $177.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. raised their target price on shares of DoorDash from $137.00 to $155.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Wells Fargo & Company raised their target price on shares of DoorDash from $127.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Friday, October 4th. Finally, Keefe, Bruyette & Woods raised shares of DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 target price on the stock in a research report on Wednesday, September 25th. Ten analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.