Franklin Resources Inc. Trims Holdings in DoorDash, Inc. $DASH

Franklin Resources Inc. decreased its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 24.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,876,975 shares of the company’s stock after selling 908,455 shares during the period. Franklin Resources Inc. owned 0.67% of DoorDash worth $651,577,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Eastern Bank increased its stake in shares of DoorDash by 714.3% in the fourth quarter. Eastern Bank now owns 114 shares of the company’s stock worth $26,000 after purchasing an additional 100 shares in the last quarter. ST Germain D J Co. Inc. purchased a new position in shares of DoorDash during the 4th quarter valued at $29,000. Sunbelt Securities Inc. boosted its holdings in DoorDash by 124.1% in the 3rd quarter. Sunbelt Securities Inc. now owns 121 shares of the company’s stock worth $33,000 after buying an additional 67 shares during the period. Morse Asset Management Inc bought a new position in DoorDash in the 3rd quarter worth $36,000. Finally, Kohmann Bosshard Financial Services LLC purchased a new stake in DoorDash in the 4th quarter worth $39,000. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Insider Transactions at DoorDash

In other news, General Counsel Tia Sherringham sold 2,743 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $160.79, for a total transaction of $441,046.97. Following the completion of the transaction, the general counsel directly owned 128,216 shares in the company, valued at approximately $20,615,850.64. This represents a 2.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $155.34, for a total transaction of $410,563.62. Following the completion of the transaction, the insider directly owned 81,106 shares of the company’s stock, valued at approximately $12,599,006.04. This trade represents a 3.16% decrease in their ownership of the stock. 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. Over the last 90 days, insiders have sold 68,558 shares of company stock worth $10,914,640. 5.83% of the stock is owned by corporate insiders.

DoorDash Stock Down 2.7%

DASH opened at $152.49 on Tuesday. The company has a market capitalization of $66.44 billion, a PE ratio of 72.61 and a beta of 1.83. The firm has a 50-day simple moving average of $162.41 and a two-hundred day simple moving average of $185.25. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.27. DoorDash, Inc. has a 52 week low of $143.30 and a 52 week high of $285.50.

DoorDash (NASDAQ:DASH) last issued its earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.06. The firm had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $4.15 billion. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The business’s revenue was up 33.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.44 earnings per share. Analysts forecast that DoorDash, Inc. will post 2.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

DASH has been the topic of a number of recent analyst reports. KeyCorp raised their price target on DoorDash from $275.00 to $280.00 and gave the company an “overweight” rating in a report on Thursday, February 19th. Truist Financial dropped their price objective on DoorDash from $340.00 to $330.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Benchmark lifted their target price on DoorDash from $280.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. DA Davidson lowered their price target on DoorDash from $224.00 to $200.00 and set a “neutral” rating on the stock in a report on Thursday, May 7th. Finally, Cantor Fitzgerald dropped their price target on DoorDash from $285.00 to $230.00 and set an “overweight” rating for the company in a research note on Thursday, February 19th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $259.58.

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.