QRG Capital Management Inc. Sells 1,374 Shares of DoorDash, Inc. (NASDAQ:DASH)

QRG Capital Management Inc. lessened its stake in DoorDash, Inc. (NASDAQ:DASH) by 0.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 155,621 shares of the company’s stock after selling 1,374 shares during the period. QRG Capital Management Inc.’s holdings in DoorDash were worth $16,928,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in DASH. Spire Wealth Management bought a new position in DoorDash in the first quarter valued at about $25,000. Venturi Wealth Management LLC boosted its holdings in shares of DoorDash by 54.5% in the first quarter. Venturi Wealth Management LLC now owns 255 shares of the company’s stock worth $35,000 after buying an additional 90 shares during the last quarter. Versant Capital Management Inc grew its position in DoorDash by 340.8% during the second quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock valued at $36,000 after buying an additional 259 shares during the period. ORG Partners LLC grew its position in DoorDash by 2,108.3% during the first quarter. ORG Partners LLC now owns 265 shares of the company’s stock valued at $37,000 after buying an additional 253 shares during the period. Finally, Parkside Financial Bank & Trust increased its holdings in DoorDash by 361.2% during the fourth quarter. Parkside Financial Bank & Trust now owns 392 shares of the company’s stock valued at $39,000 after buying an additional 307 shares during the last quarter. Institutional investors own 90.64% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on DASH shares. BMO Capital Markets upped their price objective on DoorDash from $127.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. KeyCorp began coverage on DoorDash in a research note on Thursday, July 11th. They issued a “sector weight” rating on the stock. Evercore ISI lifted their price objective on DoorDash from $145.00 to $155.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Royal Bank of Canada reduced their target price on shares of DoorDash from $175.00 to $165.00 and set an “outperform” rating for the company in a report on Thursday, May 2nd. Finally, Citigroup raised their target price on shares of DoorDash from $141.00 to $144.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Eleven investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, DoorDash currently has a consensus rating of “Moderate Buy” and a consensus target price of $141.93.

Insider Buying and Selling at DoorDash

In other news, General Counsel Tia Sherringham sold 11,740 shares of the stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $110.46, for a total transaction of $1,296,800.40. Following the transaction, the general counsel now owns 183,512 shares of the company’s stock, valued at approximately $20,270,735.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other DoorDash news, insider Keith Yandell sold 12,088 shares of the company’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $111.84, for a total transaction of $1,351,921.92. Following the completion of the sale, the insider now owns 161,651 shares in the company, valued at $18,079,047.84. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, General Counsel Tia Sherringham sold 11,740 shares of the firm’s stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $110.46, for a total value of $1,296,800.40. Following the sale, the general counsel now directly owns 183,512 shares in the company, valued at approximately $20,270,735.52. The disclosure for this sale can be found here. Insiders sold a total of 518,187 shares of company stock valued at $57,611,706 in the last ninety days. Corporate insiders own 7.92% of the company’s stock.

DoorDash Price Performance

Shares of NASDAQ:DASH traded down $0.95 during trading hours on Friday, hitting $123.81. 3,907,839 shares of the company’s stock traded hands, compared to its average volume of 4,151,479. The firm has a market capitalization of $50.63 billion, a P/E ratio of -114.64, a price-to-earnings-growth ratio of 40.25 and a beta of 1.67. The business has a fifty day moving average price of $110.48 and a 200-day moving average price of $118.97. DoorDash, Inc. has a 1 year low of $69.90 and a 1 year high of $143.34.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.29). DoorDash had a negative net margin of 4.24% and a negative return on equity of 6.00%. The business had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter in the previous year, the firm earned ($0.44) EPS. DoorDash’s revenue was up 23.3% compared to the same quarter last year. As a group, equities analysts predict that DoorDash, Inc. will post 0.07 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.