DoorDash, Inc. $DASH Stake Reduced by Picton Mahoney Asset Management

Picton Mahoney Asset Management cut its stake in DoorDash, Inc. (NASDAQ:DASH) by 66.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 84,503 shares of the company’s stock after selling 169,688 shares during the period. Picton Mahoney Asset Management’s holdings in DoorDash were worth $22,985,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of DoorDash by 3.7% during the third quarter. Vanguard Group Inc. now owns 42,712,908 shares of the company’s stock worth $11,617,484,000 after acquiring an additional 1,522,823 shares during the last quarter. State Street Corp boosted its stake in DoorDash by 3.1% during the 2nd quarter. State Street Corp now owns 14,387,499 shares of the company’s stock valued at $3,546,662,000 after purchasing an additional 427,722 shares during the period. Geode Capital Management LLC boosted its stake in DoorDash by 2.9% during the 2nd quarter. Geode Capital Management LLC now owns 7,951,230 shares of the company’s stock valued at $1,950,711,000 after purchasing an additional 223,188 shares during the period. Invesco Ltd. grew its position in DoorDash by 12.0% in the 2nd quarter. Invesco Ltd. now owns 5,375,480 shares of the company’s stock worth $1,325,110,000 after purchasing an additional 575,629 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of DoorDash in the second quarter valued at approximately $1,185,576,000. 90.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Stanley Tang sold 45,410 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $209.01, for a total transaction of $9,491,144.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Shona L. Brown sold 1,250 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $181.28, for a total transaction of $226,600.00. Following the sale, the director owned 32,252 shares of the company’s stock, valued at $5,846,642.56. The trade was a 3.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 220,826 shares of company stock worth $48,944,946 in the last ninety days. Insiders own 5.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Stifel Nicolaus reduced their price objective on DoorDash from $253.00 to $224.00 and set a “hold” rating for the company in a research report on Tuesday, January 27th. Wolfe Research set a $270.00 target price on DoorDash in a research note on Monday, January 5th. Citizens Jmp reduced their price target on DoorDash from $285.00 to $250.00 and set a “market outperform” rating for the company in a research report on Friday, February 20th. Bank of America increased their price target on DoorDash from $260.00 to $272.00 and gave the stock a “buy” rating in a research note on Thursday, February 19th. Finally, Susquehanna cut their price objective on shares of DoorDash from $300.00 to $250.00 and set a “positive” rating on the stock in a research note on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $262.82.

DoorDash Stock Down 0.5%

Shares of DASH stock opened at $175.46 on Wednesday. DoorDash, Inc. has a 1 year low of $155.40 and a 1 year high of $285.50. The stock has a market cap of $76.23 billion, a PE ratio of 82.76 and a beta of 1.82. The business’s fifty day moving average is $199.71 and its 200-day moving average is $226.77. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.41 and a current ratio of 1.41.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Wednesday, February 18th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.10). DoorDash had a net margin of 6.82% and a return on equity of 10.15%. The firm had revenue of $3.96 billion during the quarter, compared to analyst estimates of $3.98 billion. During the same quarter last year, the company earned $0.33 EPS. The company’s quarterly revenue was up 37.7% compared to the same quarter last year. Equities analysts expect that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

DoorDash Profile

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.