Eagle Asset Management Inc. Cuts Position in DoorDash, Inc. (NASDAQ:DASH)

Eagle Asset Management Inc. reduced its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 29.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 847,205 shares of the company’s stock after selling 345,545 shares during the quarter. Eagle Asset Management Inc. owned 0.20% of DoorDash worth $120,922,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Rakuten Securities Inc. boosted its stake in shares of DoorDash by 302.3% during the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock valued at $25,000 after buying an additional 130 shares during the last quarter. Meeder Asset Management Inc. boosted its stake 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 acquiring an additional 132 shares during the last quarter. Headlands Technologies LLC acquired a new position in DoorDash during the 2nd quarter worth $32,000. Versant Capital Management Inc grew its position in shares of 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 acquiring an additional 259 shares in the last quarter. Finally, Quest Partners LLC raised its holdings in shares of DoorDash by 146.8% during the second quarter. Quest Partners LLC now owns 343 shares of the company’s stock worth $37,000 after purchasing an additional 204 shares during the period. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Stock Performance

NASDAQ DASH opened at $173.65 on Friday. The stock has a market capitalization of $72.13 billion, a P/E ratio of -385.88, a price-to-earnings-growth ratio of 14.82 and a beta of 1.67. DoorDash, Inc. has a 52 week low of $92.56 and a 52 week high of $178.16. The stock has a fifty day moving average of $152.69 and a 200-day moving average of $128.46.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on DASH shares. KeyCorp increased their target price on DoorDash from $177.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Loop Capital lifted their target price on DoorDash from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Wedbush reiterated a “neutral” rating and set a $115.00 price objective on shares of DoorDash in a research note on Friday, August 2nd. Barclays boosted their price target on shares of DoorDash from $120.00 to $163.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Finally, Piper Sandler raised their price objective on DoorDash from $125.00 to $160.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Ten analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $164.03.

Insider Buying and Selling

In other DoorDash news, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the sale, the director now directly owns 18,089 shares in the company, valued at approximately $2,355,187.80. This trade represents a 73.43 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Tony Xu sold 54,166 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $140.06, for a total transaction of $7,586,489.96. The disclosure for this sale can be found here. Insiders sold a total of 482,871 shares of company stock valued at $73,516,353 over the last ninety days. Insiders own 7.92% of the company’s stock.

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.