Temasek Holdings Private Ltd Cuts Holdings in DoorDash, Inc. $DASH

Temasek Holdings Private Ltd decreased its position in DoorDash, Inc. (NASDAQ:DASH) by 0.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,316,423 shares of the company’s stock after selling 6,257 shares during the period. DoorDash accounts for about 1.7% of Temasek Holdings Private Ltd’s portfolio, making the stock its 15th largest position. Temasek Holdings Private Ltd’s holdings in DoorDash were worth $524,623,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Eastern Bank increased its holdings in DoorDash by 714.3% in the fourth quarter. Eastern Bank now owns 114 shares of the company’s stock valued at $26,000 after buying an additional 100 shares in the last quarter. Sunbelt Securities Inc. increased its holdings in DoorDash by 124.1% in the third quarter. Sunbelt Securities Inc. now owns 121 shares of the company’s stock valued at $33,000 after buying an additional 67 shares in the last quarter. Swiss RE Ltd. purchased a new position in DoorDash in the fourth quarter valued at $28,000. ST Germain D J Co. Inc. purchased a new position in DoorDash in the fourth quarter valued at $29,000. Finally, Morse Asset Management Inc purchased a new position in DoorDash in the third quarter valued at $36,000. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Insider Buying and Selling at DoorDash

In related news, COO Prabir Adarkar sold 21,739 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $155.25, for a total transaction of $3,374,979.75. Following the completion of the sale, the chief operating officer owned 959,076 shares of the company’s stock, valued at approximately $148,896,549. This represents a 2.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Keith Yandell sold 2,643 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $155.34, for a total transaction of $410,563.62. Following the sale, the insider directly owned 81,106 shares of the company’s stock, valued at approximately $12,599,006.04. This represents a 3.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 68,558 shares of company stock worth $10,914,640 in the last 90 days. 5.83% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on DASH shares. DA Davidson cut their price objective on shares of DoorDash from $224.00 to $200.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. Moffett Nathanson set a $276.00 price objective on shares of DoorDash in a report on Wednesday, April 15th. TD Cowen started coverage on shares of DoorDash in a research note on Monday, April 27th. They set a “buy” rating and a $225.00 target price for the company. Wells Fargo & Company boosted their target price on shares of DoorDash from $198.00 to $200.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Finally, BTIG Research cut their target price on shares of DoorDash from $280.00 to $225.00 and set a “buy” rating for the company in a research note on Friday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat, DoorDash presently has a consensus rating of “Moderate Buy” and an average target price of $256.11.

DoorDash Stock Up 11.6%

Shares of NASDAQ DASH opened at $168.09 on Tuesday. DoorDash, Inc. has a 12-month low of $143.30 and a 12-month high of $285.50. The stock has a market cap of $73.24 billion, a PE ratio of 80.04 and a beta of 1.83. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.27. The company has a 50-day moving average of $162.97 and a 200 day moving average of $183.96.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.06. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The company had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $4.15 billion. During the same quarter in the prior year, the company earned $0.44 EPS. DoorDash’s revenue was up 33.1% compared to the same quarter last year. As a group, sell-side analysts predict that DoorDash, Inc. will post 2.45 EPS 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.