DoorDash, Inc. $DASH Stake Lessened by Voya Investment Management LLC

Voya Investment Management LLC trimmed its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 3.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 917,158 shares of the company’s stock after selling 31,429 shares during the quarter. Voya Investment Management LLC owned approximately 0.21% of DoorDash worth $249,458,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. GFG Capital LLC bought a new position in shares of DoorDash during the second quarter worth about $30,000. Saudi Central Bank bought a new stake in DoorDash in the first quarter valued at about $25,000. WPG Advisers LLC acquired a new stake in DoorDash during the first quarter valued at approximately $26,000. Pacific Center for Financial Services bought a new position in DoorDash during the 1st quarter worth approximately $27,000. Finally, NewSquare Capital LLC lifted its holdings in DoorDash by 610.3% during the 2nd quarter. NewSquare Capital LLC now owns 206 shares of the company’s stock worth $51,000 after buying an additional 177 shares during the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity at DoorDash

In other DoorDash news, CEO Tony Xu sold 288,410 shares of the firm’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $196.04, for a total transaction of $56,539,896.40. Following the transaction, the chief executive officer owned 232,040 shares of the company’s stock, valued at approximately $45,489,121.60. This trade represents a 55.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Prabir Adarkar sold 30,000 shares of the business’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $270.60, for a total transaction of $8,118,000.00. Following the sale, the chief operating officer owned 914,547 shares in the company, valued at $247,476,418.20. This trade represents a 3.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 644,980 shares of company stock valued at $143,500,178. 5.83% of the stock is owned by corporate insiders.

DoorDash Stock Performance

Shares of DASH stock opened at $230.94 on Friday. DoorDash, Inc. has a 12-month low of $155.40 and a 12-month high of $285.50. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.04 and a quick ratio of 2.04. The firm has a market capitalization of $99.53 billion, a price-to-earnings ratio of 117.23 and a beta of 1.72. The business has a 50 day simple moving average of $228.62 and a 200 day simple moving average of $240.20.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, November 5th. The company reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.68 by ($0.13). DoorDash had a net margin of 6.83% and a return on equity of 9.97%. The business had revenue of $3.45 billion for the quarter, compared to the consensus estimate of $3.35 billion. During the same period in the previous year, the firm earned $0.38 EPS. The firm’s revenue was up 27.3% on a year-over-year basis. On average, equities research analysts anticipate that DoorDash, Inc. will post 2.22 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on DASH shares. KeyCorp reiterated an “overweight” rating and issued a $280.00 price target on shares of DoorDash in a report on Friday, November 21st. Needham & Company LLC lowered their target price on shares of DoorDash from $300.00 to $275.00 and set a “buy” rating for the company in a research note on Friday, November 14th. Jefferies Financial Group increased their target price on shares of DoorDash from $260.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, December 11th. Mizuho reduced their price target on shares of DoorDash from $350.00 to $320.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 12th. Finally, Morgan Stanley boosted their price objective on shares of DoorDash from $300.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $275.46.

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.