49,416 Shares in DoorDash, Inc. (NYSE:DASH) Purchased by Sand Hill Global Advisors LLC

Sand Hill Global Advisors LLC acquired a new position in DoorDash, Inc. (NYSE:DASH) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 49,416 shares of the company’s stock, valued at approximately $3,141,000.

Other hedge funds also recently bought and sold shares of the company. Nordea Investment Management AB increased its position in DoorDash by 1.1% in the 1st quarter. Nordea Investment Management AB now owns 16,494 shares of the company’s stock worth $1,032,000 after purchasing an additional 177 shares during the last quarter. Citigroup Inc. increased its holdings in shares of DoorDash by 2.4% during the 1st quarter. Citigroup Inc. now owns 134,314 shares of the company’s stock valued at $8,537,000 after acquiring an additional 3,091 shares during the last quarter. Treasurer of the State of North Carolina increased its holdings in shares of DoorDash by 0.6% during the 1st quarter. Treasurer of the State of North Carolina now owns 113,443 shares of the company’s stock valued at $7,210,000 after acquiring an additional 720 shares during the last quarter. Bessemer Group Inc. increased its holdings in shares of DoorDash by 1.0% during the 4th quarter. Bessemer Group Inc. now owns 651,297 shares of the company’s stock valued at $31,796,000 after acquiring an additional 6,471 shares during the last quarter. Finally, Guggenheim Capital LLC increased its holdings in shares of DoorDash by 87.1% during the 1st quarter. Guggenheim Capital LLC now owns 11,697 shares of the company’s stock valued at $743,000 after acquiring an additional 5,446 shares during the last quarter. 75.84% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Wedbush increased their price objective on DoorDash from $75.00 to $85.00 and gave the company a “neutral” rating in a report on Thursday, August 3rd. Truist Financial increased their price objective on DoorDash from $105.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, August 3rd. Gordon Haskett lowered DoorDash from a “buy” rating to a “hold” rating and lowered their price objective for the company from $73.00 to $72.00 in a report on Wednesday, June 14th. Mizuho increased their price objective on DoorDash from $75.00 to $85.00 and gave the company a “neutral” rating in a report on Monday, July 31st. Finally, Needham & Company LLC increased their target price on DoorDash from $84.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $87.73.

Insider Activity at DoorDash

In related news, CEO Tony Xu sold 132,300 shares of the firm’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $71.87, for a total transaction of $9,508,401.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Keith Yandell sold 3,500 shares of DoorDash stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $76.74, for a total value of $268,590.00. Following the completion of the sale, the insider now directly owns 237,405 shares of the company’s stock, valued at approximately $18,218,459.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Tony Xu sold 132,300 shares of DoorDash stock in a transaction on Monday, June 12th. The shares were sold at an average price of $71.87, for a total value of $9,508,401.00. The disclosure for this sale can be found here. Insiders sold 989,997 shares of company stock valued at $78,133,345 in the last three months. Corporate insiders own 9.59% of the company’s stock.

DoorDash Price Performance

DoorDash stock opened at $82.17 on Friday. The company has a market capitalization of $32.32 billion, a PE ratio of -25.13 and a beta of 1.63. DoorDash, Inc. has a one year low of $41.37 and a one year high of $92.61. The business has a 50 day simple moving average of $82.07 and a 200 day simple moving average of $70.11.

DoorDash (NYSE:DASH) last released its quarterly earnings results on Wednesday, August 2nd. The company reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.02). DoorDash had a negative net margin of 16.47% and a negative return on equity of 13.14%. The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same period in the prior year, the business earned ($0.72) earnings per share. The company’s revenue for the quarter was up 32.6% on a year-over-year basis. Equities analysts anticipate that DoorDash, Inc. will post -1.74 earnings per share for the current fiscal year.

About DoorDash

DoorDash, Inc operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash and Wolt marketplaces, which provides an array of services that enable merchants to solve mission-critical challenges, such as customer acquisition, delivery, insights and analytics, merchandising, payment processing, and customer support; DashPass and Wolt+, a membership products; and offers DoorDash Drive and Wolt Drive, a white-label delivery fulfillment services; DoorDash Storefront that enables merchants to offer consumers on-demand access to e-commerce; and Bbot, which offers merchants digital ordering and payment solutions for in-store and online channels.