Pitcairn Co. Cuts Stake in DoorDash, Inc. (NASDAQ:DASH)

Pitcairn Co. cut its stake in DoorDash, Inc. (NASDAQ:DASH) by 13.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 13,573 shares of the company’s stock after selling 2,102 shares during the quarter. Pitcairn Co.’s holdings in DoorDash were worth $1,937,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of DASH. Rakuten Securities Inc. increased its position in shares of DoorDash by 302.3% during the third quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $25,000 after acquiring an additional 130 shares during the last quarter. Meeder Asset Management Inc. increased its position in shares of DoorDash by 82.0% during the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after acquiring an additional 132 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of DoorDash during the second quarter worth about $32,000. Versant Capital Management Inc increased its position in shares of DoorDash by 340.8% during 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. Finally, Quest Partners LLC increased its position 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 acquiring an additional 204 shares during the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

DoorDash Stock Performance

NASDAQ DASH opened at $177.24 on Friday. The stock has a market capitalization of $73.62 billion, a P/E ratio of -393.87, a P/E/G ratio of 13.31 and a beta of 1.67. DoorDash, Inc. has a 1 year low of $92.56 and a 1 year high of $178.16. The business’s fifty day moving average is $153.61 and its two-hundred day moving average is $128.96.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.17. The company had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.66 billion. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The firm’s revenue was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.19) earnings per share. On average, research analysts forecast that DoorDash, Inc. will post 0.26 earnings per share for the current year.

Insider Buying and Selling at DoorDash

In other DoorDash news, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $2,355,187.80. The trade was a 73.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stanley Tang sold 1,855 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $169.98, for a total transaction of $315,312.90. Following the sale, the director now directly owns 35,413 shares in the company, valued at approximately $6,019,501.74. This trade represents a 4.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 547,753 shares of company stock valued at $84,544,996. Corporate insiders own 7.92% of the company’s stock.

Analyst Upgrades and Downgrades

DASH has been the subject of a number of research reports. Wedbush reiterated a “neutral” rating and issued a $115.00 price target on shares of DoorDash in a research note on Friday, August 2nd. DA Davidson lifted their price target on DoorDash from $119.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price target on shares of DoorDash in a research note on Monday, October 7th. UBS Group lifted their price target on DoorDash from $143.00 to $160.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, BMO Capital Markets lifted their price target on DoorDash from $140.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Ten research 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, DoorDash presently has a consensus rating of “Moderate Buy” and an average target price of $164.03.

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.