DoorDash, Inc. $DASH Shares Sold by Rafferty Asset Management LLC

Rafferty Asset Management LLC lowered its position in DoorDash, Inc. (NASDAQ:DASH) by 4.7% during the third quarter, HoldingsChannel.com reports. The fund owned 94,903 shares of the company’s stock after selling 4,682 shares during the quarter. Rafferty Asset Management LLC’s holdings in DoorDash were worth $25,813,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Greenland Capital Management LP grew its position in shares of DoorDash by 637.5% in the second quarter. Greenland Capital Management LP now owns 23,572 shares of the company’s stock valued at $5,811,000 after purchasing an additional 20,376 shares during the last quarter. Caprock Group LLC purchased a new stake in DoorDash in the 3rd quarter valued at approximately $3,169,000. Geode Capital Management LLC lifted its stake in DoorDash by 2.9% in 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 buying an additional 223,188 shares in the last quarter. Williamson Legacy Group LLC acquired a new stake in DoorDash during the 2nd quarter valued at $1,264,000. Finally, Brighton Jones LLC increased its position in DoorDash by 24.0% during the fourth quarter. Brighton Jones LLC now owns 9,336 shares of the company’s stock worth $1,566,000 after buying an additional 1,807 shares in the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

DoorDash Price Performance

DoorDash stock opened at $176.47 on Friday. DoorDash, Inc. has a 1 year low of $155.40 and a 1 year high of $285.50. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.41 and a current ratio of 1.41. The firm has a 50 day moving average price of $202.02 and a 200 day moving average price of $227.96. The company has a market cap of $76.66 billion, a price-to-earnings ratio of 83.24 and a beta of 1.77.

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

Insider Activity

In other news, COO Prabir Adarkar sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $204.59, for a total value of $3,068,850.00. Following the transaction, the chief operating officer directly owned 874,130 shares in the company, valued at $178,838,256.70. This trade represents a 1.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Ravi Inukonda sold 1,017 shares of DoorDash stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $215.14, for a total value of $218,797.38. Following the completion of the transaction, the chief financial officer directly owned 208,412 shares in the company, valued at $44,837,757.68. This represents a 0.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 291,236 shares of company stock valued at $63,380,925 in the last 90 days. 5.83% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

DASH has been the topic of several recent research reports. Bank of America upped their price objective on DoorDash from $260.00 to $272.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. Truist Financial boosted their target price on shares of DoorDash from $330.00 to $340.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. Jefferies Financial Group upped their target price on shares of DoorDash from $260.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Morgan Stanley reiterated an “overweight” rating and set a $275.00 price target on shares of DoorDash in a report on Thursday, February 19th. Finally, BTIG Research reissued a “buy” rating and set a $315.00 price objective on shares of DoorDash in a research note on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, DoorDash currently has a consensus rating of “Moderate Buy” and an average price target of $264.74.

DoorDash Company 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.