Atika Capital Management LLC Sells 16,385 Shares of DoorDash, Inc. $DASH

Atika Capital Management LLC lessened its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 19.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 66,400 shares of the company’s stock after selling 16,385 shares during the quarter. DoorDash makes up 1.6% of Atika Capital Management LLC’s holdings, making the stock its 20th biggest holding. Atika Capital Management LLC’s holdings in DoorDash were worth $16,368,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of DASH. Saudi Central Bank bought a new stake in DoorDash during the 1st quarter worth $25,000. WPG Advisers LLC bought a new position in DoorDash in the first quarter valued at about $26,000. Pacific Center for Financial Services acquired a new stake in shares of DoorDash during the first quarter valued at about $27,000. GFG Capital LLC bought a new stake in shares of DoorDash during the second quarter worth about $30,000. Finally, Harbour Investments Inc. increased its stake in shares of DoorDash by 55.6% in 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. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at DoorDash

In other news, COO Prabir Adarkar sold 30,000 shares of the firm’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $270.60, for a total value of $8,118,000.00. Following the completion of the sale, the chief operating officer directly owned 914,547 shares in the company, valued at $247,476,418.20. This trade represents a 3.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Andy Fang sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $243.32, for a total value of $7,299,600.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 732,345 shares of company stock worth $169,950,987 over the last quarter. Company insiders own 5.83% of the company’s stock.

DoorDash Stock Performance

NASDAQ:DASH opened at $195.98 on Thursday. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.29. DoorDash, Inc. has a twelve month low of $155.40 and a twelve month high of $285.50. The company has a fifty day moving average of $244.52 and a 200-day moving average of $238.47. The firm has a market capitalization of $84.47 billion, a P/E ratio of 99.48 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last issued its earnings results on Wednesday, November 5th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.13). The company had revenue of $3.45 billion for the quarter, compared to the consensus estimate of $3.35 billion. DoorDash had a return on equity of 9.97% and a net margin of 6.83%.The firm’s revenue was up 27.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.38 earnings per share. As a group, sell-side analysts anticipate that DoorDash, Inc. will post 2.22 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on DASH. Wedbush upgraded shares of DoorDash from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $160.00 to $260.00 in a research report on Thursday, November 13th. Jefferies Financial Group upgraded shares of DoorDash from a “hold” rating to a “buy” rating in a report on Wednesday, November 19th. Piper Sandler increased their price objective on DoorDash from $210.00 to $290.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. Guggenheim reaffirmed a “buy” rating and set a $280.00 target price on shares of DoorDash in a research report on Wednesday, November 19th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $280.00 price target on shares of DoorDash in a research report on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, DoorDash currently has a consensus rating of “Moderate Buy” and an average target price of $275.62.

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.