Victory Capital Management Inc. Sells 7,547 Shares of DoorDash, Inc. (NASDAQ:DASH)

Victory Capital Management Inc. cut its stake in DoorDash, Inc. (NASDAQ:DASH) by 2.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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 about 0.06% of DoorDash worth $36,585,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rakuten Securities Inc. increased its position in shares of DoorDash by 302.3% during the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $25,000 after purchasing an additional 130 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of DoorDash by 16.7% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 782,929 shares of the company’s stock worth $111,747,000 after buying an additional 111,846 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in shares of 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 acquiring an additional 1,645,186 shares in the last quarter. GSA Capital Partners LLP raised its position in DoorDash by 93.2% in the 3rd quarter. GSA Capital Partners LLP now owns 7,690 shares of the company’s stock valued at $1,098,000 after purchasing an additional 3,710 shares during the last quarter. Finally, Entropy Technologies LP boosted its stake in DoorDash by 71.0% in 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 in the last quarter. Institutional investors own 90.64% of the company’s stock.

Insider Buying and Selling at DoorDash

In other news, CEO Tony Xu sold 81,249 shares of DoorDash stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $147.87, for a total transaction of $12,014,289.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Ravi Inukonda sold 7,000 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 396,152 shares of the company’s stock, 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. Insiders have sold a total of 324,539 shares of company stock valued at $46,439,330 in the last three months. 7.92% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on DASH shares. Piper Sandler upped their price target on shares of DoorDash from $125.00 to $160.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Susquehanna increased their price target on shares of DoorDash from $140.00 to $180.00 and gave the company a “positive” rating in a research note on Friday, November 1st. 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. Oppenheimer increased their price objective on DoorDash from $145.00 to $160.00 and gave the company an “outperform” rating in a research report on Friday, September 27th. Finally, Mizuho lifted their target price on DoorDash from $162.00 to $173.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Ten investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $164.03.

DoorDash Trading Down 2.5 %

DASH stock opened at $169.43 on Friday. DoorDash, Inc. has a 1-year low of $92.56 and a 1-year high of $178.16. The business’s 50 day simple moving average is $149.01 and its 200 day simple moving average is $126.98. The firm has a market capitalization of $70.38 billion, a PE ratio of -376.51, a PEG ratio of 14.79 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.21 by $0.17. The firm had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The company’s quarterly revenue was up 25.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.19) earnings per share. As a group, sell-side analysts predict that DoorDash, Inc. will post 0.24 EPS for the current fiscal year.

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.