QRG Capital Management Inc. Lowers Holdings in DoorDash, Inc. (NASDAQ:DASH)

QRG Capital Management Inc. decreased its holdings in DoorDash, Inc. (NASDAQ:DASH) by 19.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 125,833 shares of the company’s stock after selling 29,788 shares during the quarter. QRG Capital Management Inc.’s holdings in DoorDash were worth $17,960,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in DASH. Meeder Asset Management Inc. boosted its stake in shares of DoorDash by 82.0% in the second 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 period. Headlands Technologies LLC purchased a new position in DoorDash in the second quarter worth approximately $32,000. Versant Capital Management Inc lifted its stake in DoorDash by 340.8% in the second quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock worth $36,000 after acquiring an additional 259 shares during the last quarter. ORG Partners LLC lifted its stake in DoorDash by 2,108.3% in the first quarter. ORG Partners LLC now owns 265 shares of the company’s stock worth $37,000 after acquiring an additional 253 shares during the last quarter. Finally, Quest Partners LLC lifted its stake in DoorDash by 146.8% in the second quarter. Quest Partners LLC now owns 343 shares of the company’s stock worth $37,000 after acquiring an additional 204 shares during the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Insider Activity at DoorDash

In related news, CFO Ravi Inukonda sold 7,000 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $127.86, for a total value of $895,020.00. Following the sale, the chief financial officer now directly owns 396,152 shares of the company’s stock, valued at approximately $50,651,994.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other DoorDash news, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $149.83, for a total transaction of $7,491,500.00. Following the sale, the director now directly owns 18,089 shares of the company’s stock, valued at $2,710,274.87. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ravi Inukonda sold 7,000 shares of the firm’s stock in a transaction dated 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 directly owns 396,152 shares in the company, valued at $50,651,994.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 378,705 shares of company stock valued at $53,125,040. Insiders own 7.92% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on DASH shares. Redburn Atlantic started coverage on shares of DoorDash in a research note on Friday, July 26th. They issued a “buy” rating and a $170.00 price target for the company. Needham & Company LLC lifted their price target on shares of DoorDash from $145.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday. Keefe, Bruyette & Woods upgraded shares of 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. BTIG Research upgraded shares of DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 price objective for the company in a research report on Thursday, September 19th. Finally, Argus started coverage on shares of DoorDash in a research report on Tuesday, July 23rd. They set a “hold” rating for the company. Ten investment 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 presently has an average rating of “Moderate Buy” and a consensus target price of $163.12.

DoorDash Price Performance

Shares of NASDAQ DASH traded down $0.91 during trading on Monday, hitting $154.75. 38,609 shares of the company were exchanged, compared to its average volume of 3,826,887. The company has a market cap of $63.69 billion, a price-to-earnings ratio of -345.91, a PEG ratio of 359.82 and a beta of 1.67. DoorDash, Inc. has a 1 year low of $83.58 and a 1 year high of $165.07. The firm’s fifty day moving average price is $140.40 and its 200 day moving average price is $124.15.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.21 by $0.17. The business had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The business’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.19) EPS. On average, research analysts forecast that DoorDash, Inc. will post 0.01 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.