Fortis Capital Advisors LLC Trims Holdings in DoorDash, Inc. $DASH

Fortis Capital Advisors LLC reduced its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 75.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,296 shares of the company’s stock after selling 4,014 shares during the period. Fortis Capital Advisors LLC’s holdings in DoorDash were worth $294,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Resonant Capital Advisors LLC lifted its stake in shares of DoorDash by 3.5% during the third quarter. Resonant Capital Advisors LLC now owns 1,229 shares of the company’s stock valued at $334,000 after buying an additional 42 shares during the period. Premier Path Wealth Partners LLC grew its stake in DoorDash by 1.9% in the 3rd quarter. Premier Path Wealth Partners LLC now owns 2,414 shares of the company’s stock worth $657,000 after acquiring an additional 45 shares during the period. Callan Family Office LLC raised its holdings in DoorDash by 0.8% in the 3rd quarter. Callan Family Office LLC now owns 6,123 shares of the company’s stock valued at $1,665,000 after acquiring an additional 51 shares during the last quarter. Keel Point LLC raised its holdings in DoorDash by 4.3% in the 3rd quarter. Keel Point LLC now owns 1,393 shares of the company’s stock valued at $379,000 after acquiring an additional 58 shares during the last quarter. Finally, Yeomans Consulting Group Inc. lifted its stake in shares of DoorDash by 4.3% during the 3rd quarter. Yeomans Consulting Group Inc. now owns 1,428 shares of the company’s stock worth $382,000 after purchasing an additional 59 shares during the period. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Shona L. Brown sold 1,250 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $176.61, for a total value of $220,762.50. Following the transaction, the director owned 31,002 shares in the company, valued at approximately $5,475,263.22. This trade represents a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Stanley Tang sold 21,433 shares of DoorDash stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $150.00, for a total transaction of $3,214,950.00. Following the transaction, the director directly owned 19,279 shares in the company, valued at approximately $2,891,850. This trade represents a 52.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 79,406 shares of company stock valued at $14,756,224. 5.83% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on DASH. Mizuho decreased their price objective on DoorDash from $320.00 to $255.00 and set an “outperform” rating on the stock in a report on Tuesday, March 3rd. Oppenheimer reduced their target price on DoorDash from $280.00 to $235.00 and set an “outperform” rating on the stock in a research report on Thursday, February 19th. KeyCorp raised their price target on DoorDash from $275.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, February 19th. BNP Paribas Exane began coverage on DoorDash in a report on Wednesday, January 14th. They issued an “outperform” rating and a $280.00 price target for the company. Finally, Bank of America upped their price objective on shares of DoorDash from $260.00 to $272.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, DoorDash has a consensus rating of “Moderate Buy” and a consensus price target of $261.32.

DoorDash Price Performance

Shares of DoorDash stock opened at $189.80 on Tuesday. The business’s fifty day moving average price is $166.05 and its 200 day moving average price is $204.68. DoorDash, Inc. has a twelve month low of $143.30 and a twelve month high of $285.50. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $82.45 billion, a P/E ratio of 89.53 and a beta of 1.93.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Wednesday, February 18th. The company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.10). The firm had revenue of $3.96 billion during the quarter, compared to analysts’ expectations of $3.98 billion. DoorDash had a return on equity of 10.15% and a net margin of 6.82%.The business’s revenue for the quarter was up 37.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.33 earnings per share. As a group, research analysts anticipate that DoorDash, Inc. will post 2.51 earnings per share for the current year.

DoorDash Profile

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.