DoorDash, Inc. $DASH Stake Trimmed by Catalyst Private Wealth LLC

Catalyst Private Wealth LLC lessened its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 6.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,885 shares of the company’s stock after selling 2,373 shares during the quarter. DoorDash makes up about 4.0% of Catalyst Private Wealth LLC’s portfolio, making the stock its 6th biggest holding. Catalyst Private Wealth LLC’s holdings in DoorDash were worth $9,216,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Norges Bank purchased a new stake in DoorDash during the 2nd quarter valued at about $1,185,576,000. Vanguard Group Inc. lifted its stake in DoorDash by 4.6% in the 2nd quarter. Vanguard Group Inc. now owns 41,190,085 shares of the company’s stock worth $10,153,768,000 after purchasing an additional 1,792,799 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of DoorDash by 442.5% during the 1st quarter. AQR Capital Management LLC now owns 1,836,122 shares of the company’s stock worth $321,799,000 after purchasing an additional 1,497,636 shares during the last quarter. Scge Management L.P. purchased a new stake in shares of DoorDash in the second quarter valued at approximately $267,463,000. Finally, Northern Trust Corp grew its position in shares of DoorDash by 38.2% in the first quarter. Northern Trust Corp now owns 3,309,237 shares of the company’s stock valued at $604,829,000 after purchasing an additional 915,512 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

DASH has been the topic of a number of analyst reports. Mizuho reduced their price objective on DoorDash from $350.00 to $320.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 12th. Susquehanna cut their target price on DoorDash from $300.00 to $250.00 and set a “positive” rating for the company in a research note on Friday, November 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of DoorDash in a report on Wednesday, October 8th. BTIG Research reissued a “buy” rating and issued a $315.00 price objective on shares of DoorDash in a report on Thursday, November 6th. Finally, Morgan Stanley lifted their target price on shares of DoorDash from $300.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $275.46.

DoorDash Trading Up 0.4%

NASDAQ DASH opened at $227.94 on Wednesday. The firm’s 50-day moving average is $230.70 and its two-hundred day moving average is $240.40. DoorDash, Inc. has a 12 month low of $155.40 and a 12 month high of $285.50. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.04 and a quick ratio of 2.04. The stock has a market capitalization of $98.24 billion, a P/E ratio of 115.71 and a beta of 1.72.

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

Insider Transactions at DoorDash

In other news, CEO Tony Xu sold 16,667 shares of DoorDash stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $230.00, for a total value of $3,833,410.00. Following the completion of the sale, the chief executive officer directly owned 1,500 shares of the company’s stock, valued at approximately $345,000. The trade was a 91.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Prabir Adarkar sold 24,489 shares of the business’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $187.36, for a total value of $4,588,259.04. Following the completion of the sale, the chief operating officer owned 874,130 shares in the company, valued at $163,776,996.80. This represents a 2.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 644,980 shares of company stock worth $143,500,178 in the last three months. Company insiders own 5.83% of the company’s stock.

About DoorDash

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.