Citizens Financial Group Inc. RI Trims Holdings in DoorDash, Inc. $DASH

Citizens Financial Group Inc. RI decreased its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 46.6% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 13,636 shares of the company’s stock after selling 11,903 shares during the period. Citizens Financial Group Inc. RI’s holdings in DoorDash were worth $3,709,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. GFG Capital LLC purchased a new stake in shares of DoorDash in the second quarter worth about $30,000. Sound Income Strategies LLC grew its stake in DoorDash by 2,760.0% during the third quarter. Sound Income Strategies LLC now owns 143 shares of the company’s stock valued at $39,000 after acquiring an additional 138 shares in the last quarter. Asset Planning Inc bought a new stake in DoorDash during the 3rd quarter worth approximately $50,000. NewSquare Capital LLC lifted its stake in DoorDash by 610.3% in the 2nd quarter. NewSquare Capital LLC now owns 206 shares of the company’s stock worth $51,000 after purchasing an additional 177 shares in the last quarter. Finally, CX Institutional lifted its stake in DoorDash by 3,660.0% in the 3rd quarter. CX Institutional now owns 188 shares of the company’s stock worth $51,000 after purchasing an additional 183 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on DASH shares. Wedbush boosted their price target on shares of DoorDash from $260.00 to $270.00 and gave the company an “outperform” rating in a research report on Friday, December 19th. Jefferies Financial Group lifted their price objective on DoorDash from $260.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, December 11th. UBS Group decreased their target price on DoorDash from $316.00 to $241.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. BMO Capital Markets reaffirmed an “outperform” rating on shares of DoorDash in a report on Friday, December 12th. Finally, Argus dropped their price target on DoorDash from $275.00 to $260.00 and set a “buy” rating for the company in a research report on Friday, December 12th. One analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $277.94.

Insider Transactions at DoorDash

In related news, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $222.53, for a total value of $10,105,087.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Prabir Adarkar sold 30,000 shares of the company’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $234.57, for a total transaction of $7,037,100.00. Following the sale, the chief operating officer owned 874,130 shares of the company’s stock, valued at approximately $205,044,674.10. The trade was a 3.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 617,043 shares of company stock worth $130,033,258. Corporate insiders own 5.83% of the company’s stock.

DoorDash Price Performance

DASH opened at $214.87 on Tuesday. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $92.61 billion, a P/E ratio of 109.07 and a beta of 1.70. The stock has a 50-day moving average price of $217.16 and a 200-day moving average price of $241.22. DoorDash, Inc. has a 12-month low of $155.40 and a 12-month high of $285.50.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data 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 firm had revenue of $3.45 billion for the quarter, compared to analysts’ expectations of $3.35 billion. DoorDash had a net margin of 6.83% and a return on equity of 9.97%. The business’s quarterly revenue was up 27.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.38 earnings per share. Equities analysts predict that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

About DoorDash

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.