DoorDash, Inc. (NASDAQ:DASH) Shares Sold by Neuberger Berman Group LLC

Neuberger Berman Group LLC trimmed its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 26.7% during the first quarter, HoldingsChannel reports. The fund owned 93,335 shares of the company’s stock after selling 34,033 shares during the quarter. Neuberger Berman Group LLC’s holdings in DoorDash were worth $17,059,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. E Fund Management Co. Ltd. increased its stake in shares of DoorDash by 136.6% during the first quarter. E Fund Management Co. Ltd. now owns 10,926 shares of the company’s stock worth $1,997,000 after acquiring an additional 6,308 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its stake in shares of DoorDash by 9.3% during the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 11,172 shares of the company’s stock worth $2,042,000 after acquiring an additional 950 shares during the period. Caitong International Asset Management Co. Ltd increased its stake in shares of DoorDash by 24,750.0% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,988 shares of the company’s stock worth $363,000 after acquiring an additional 1,980 shares during the period. National Pension Service increased its stake in shares of DoorDash by 10.5% during the first quarter. National Pension Service now owns 454,864 shares of the company’s stock worth $83,135,000 after acquiring an additional 43,304 shares during the period. Finally, Russell Investments Group Ltd. increased its stake in shares of DoorDash by 6.0% during the first quarter. Russell Investments Group Ltd. now owns 827,692 shares of the company’s stock worth $151,247,000 after acquiring an additional 46,681 shares during the period. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at DoorDash

In related news, COO Prabir Adarkar sold 62,267 shares of the company’s stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $202.67, for a total transaction of $12,619,652.89. Following the completion of the transaction, the chief operating officer owned 942,554 shares of the company’s stock, valued at approximately $191,027,419.18. This represents a 6.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Tony Xu sold 51,250 shares of the company’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $255.89, for a total transaction of $13,114,362.50. Following the transaction, the chief executive officer directly owned 520,450 shares of the company’s stock, valued at $133,177,950.50. This trade represents a 8.96% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 686,437 shares of company stock worth $161,070,166. 5.83% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently commented on DASH shares. Stifel Nicolaus boosted their price objective on shares of DoorDash from $214.00 to $239.00 and gave the stock a “hold” rating in a report on Thursday, August 7th. Citigroup reissued an “outperform” rating on shares of DoorDash in a report on Thursday, August 7th. BMO Capital Markets boosted their price objective on shares of DoorDash from $238.00 to $288.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Wall Street Zen raised shares of DoorDash from a “hold” rating to a “buy” rating in a report on Saturday, July 26th. Finally, BTIG Research boosted their price objective on shares of DoorDash from $225.00 to $265.00 and gave the stock a “buy” rating in a report on Tuesday, July 1st. Twelve analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, DoorDash has an average rating of “Moderate Buy” and an average target price of $263.88.

DoorDash Stock Performance

Shares of DASH stock opened at $247.44 on Friday. DoorDash, Inc. has a one year low of $122.32 and a one year high of $278.15. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.07 and a current ratio of 2.07. The company has a 50 day moving average price of $239.30 and a 200 day moving average price of $208.49. The firm has a market capitalization of $104.85 billion, a price-to-earnings ratio of 137.47 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.42 by $0.23. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. The firm had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.16 billion. During the same quarter in the prior year, the business posted ($0.38) earnings per share. DoorDash’s revenue for the quarter was up 24.9% compared to the same quarter last year. Sell-side analysts anticipate that DoorDash, Inc. will post 2.22 EPS for the current year.

DoorDash Company 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.