QRG Capital Management Inc. Sells 625 Shares of DoorDash, Inc. $DASH

QRG Capital Management Inc. cut its stake in DoorDash, Inc. (NASDAQ:DASH) by 0.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 117,086 shares of the company’s stock after selling 625 shares during the quarter. QRG Capital Management Inc.’s holdings in DoorDash were worth $28,863,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in DASH. Saudi Central Bank bought a new stake in shares of DoorDash in the first quarter worth approximately $25,000. WPG Advisers LLC bought a new stake in DoorDash during the first quarter valued at approximately $26,000. Pacific Center for Financial Services bought a new stake in DoorDash during the first quarter valued at approximately $27,000. Harbour Investments Inc. grew its position in DoorDash by 55.6% during the first quarter. Harbour Investments Inc. now owns 196 shares of the company’s stock valued at $36,000 after buying an additional 70 shares during the period. Finally, SouthState Corp grew its position in DoorDash by 762.5% during the first quarter. SouthState Corp now owns 207 shares of the company’s stock valued at $38,000 after buying an additional 183 shares during the period. 90.64% of the stock is currently owned by institutional investors.

DoorDash Trading Up 0.4%

Shares of DASH opened at $271.22 on Friday. The company’s fifty day moving average is $255.52 and its 200 day moving average is $223.92. DoorDash, Inc. has a fifty-two week low of $141.26 and a fifty-two week high of $278.15. The stock has a market capitalization of $115.87 billion, a PE ratio of 150.68 and a beta of 1.71. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.07 and a current ratio of 2.07.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share 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 company had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.16 billion. During the same quarter in the previous year, the business posted ($0.38) earnings per share. DoorDash’s quarterly revenue was up 24.9% on a year-over-year basis. Sell-side analysts expect that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Andy Fang sold 30,000 shares of the business’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $268.20, for a total value of $8,046,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Stanley Tang sold 45,410 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $268.23, for a total value of $12,180,324.30. The disclosure for this sale can be found here. Insiders have sold a total of 1,001,417 shares of company stock valued at $249,569,754 in the last three months. Corporate insiders own 5.83% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on DASH shares. Wall Street Zen upgraded shares of DoorDash from a “hold” rating to a “buy” rating in a research report on Friday. Zacks Research upgraded shares of DoorDash to a “hold” rating in a research report on Tuesday, August 12th. Evercore ISI restated an “outperform” rating and set a $360.00 target price (up from $240.00) on shares of DoorDash in a research report on Friday, August 8th. Susquehanna lifted their price target on shares of DoorDash from $235.00 to $300.00 and gave the company a “positive” rating in a report on Monday, August 11th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $330.00 price target on shares of DoorDash in a report on Wednesday, September 17th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat, DoorDash presently has a consensus rating of “Moderate Buy” and a consensus price target of $275.27.

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.