Russell Investments Group Ltd. Reduces Holdings in DoorDash, Inc. (NYSE:DASH)

Russell Investments Group Ltd. decreased its stake in shares of DoorDash, Inc. (NYSE:DASH) by 10.5% during the second quarter, HoldingsChannel.com reports. The firm owned 270,390 shares of the company’s stock after selling 31,698 shares during the period. Russell Investments Group Ltd.’s holdings in DoorDash were worth $20,634,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. US Bancorp DE lifted its holdings in DoorDash by 8.1% during the 2nd quarter. US Bancorp DE now owns 6,559 shares of the company’s stock worth $501,000 after purchasing an additional 494 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in DoorDash by 5.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 956,921 shares of the company’s stock worth $73,128,000 after purchasing an additional 52,031 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in DoorDash by 11.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 890,869 shares of the company’s stock worth $68,073,000 after purchasing an additional 93,755 shares in the last quarter. Public Employees Retirement Association of Colorado lifted its holdings in DoorDash by 2.2% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 35,885 shares of the company’s stock worth $2,742,000 after purchasing an additional 757 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in DoorDash by 171.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 188,900 shares of the company’s stock worth $14,436,000 after purchasing an additional 119,400 shares in the last quarter. Hedge funds and other institutional investors own 75.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Piper Sandler increased their price objective on DoorDash from $47.00 to $51.00 and gave the stock an “underweight” rating in a report on Thursday, November 2nd. Roth Mkm raised their price target on DoorDash from $73.00 to $91.00 and gave the company a “neutral” rating in a report on Thursday, August 3rd. Mizuho raised DoorDash from a “neutral” rating to a “buy” rating and raised their price target for the company from $90.00 to $105.00 in a report on Monday, September 18th. Oppenheimer raised their price target on DoorDash from $85.00 to $110.00 and gave the company an “outperform” rating in a report on Thursday, August 3rd. Finally, The Goldman Sachs Group raised their price target on DoorDash from $73.00 to $98.00 and gave the company a “neutral” rating in a report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $94.18.

Insider Buying and Selling

In other DoorDash news, Director Andy Fang sold 67,000 shares of DoorDash stock in a transaction on Friday, November 17th. The stock was sold at an average price of $95.11, for a total transaction of $6,372,370.00. Following the completion of the transaction, the director now owns 45,296 shares in the company, valued at $4,308,102.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other DoorDash news, CFO Ravi Inukonda sold 7,000 shares of DoorDash stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $81.00, for a total value of $567,000.00. Following the completion of the sale, the chief financial officer now owns 460,288 shares of the company’s stock, valued at approximately $37,283,328. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Andy Fang sold 67,000 shares of DoorDash stock in a transaction on Friday, November 17th. The stock was sold at an average price of $95.11, for a total value of $6,372,370.00. Following the completion of the sale, the director now directly owns 45,296 shares of the company’s stock, valued at approximately $4,308,102.56. The disclosure for this sale can be found here. Insiders have sold a total of 862,500 shares of company stock worth $71,154,301 in the last ninety days. 9.59% of the stock is owned by insiders.

DoorDash Price Performance

DASH opened at $95.75 on Tuesday. The stock’s 50 day simple moving average is $80.53 and its 200 day simple moving average is $77.91. DoorDash, Inc. has a 1 year low of $45.93 and a 1 year high of $96.01. The firm has a market cap of $38.13 billion, a price-to-earnings ratio of -35.59 and a beta of 1.61.

DoorDash (NYSE:DASH) last posted its quarterly earnings results on Wednesday, November 1st. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.26. DoorDash had a negative return on equity of 9.88% and a negative net margin of 12.81%. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.09 billion. During the same period last year, the company earned ($0.77) EPS. DoorDash’s revenue for the quarter was up 27.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that DoorDash, Inc. will post -1.26 EPS for the current year.

About DoorDash

DoorDash, Inc operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash and Wolt marketplaces, which provides an array of services that enable merchants to solve mission-critical challenges, such as customer acquisition, delivery, insights and analytics, merchandising, payment processing, and customer support; DashPass and Wolt+, a membership products; and offers DoorDash Drive and Wolt Drive, a white-label delivery fulfillment services; DoorDash Storefront that enables merchants to offer consumers on-demand access to e-commerce; and Bbot, which offers merchants digital ordering and payment solutions for in-store and online channels.