QRG Capital Management Inc. Cuts Stake in DoorDash, Inc. (NASDAQ:DASH)

QRG Capital Management Inc. reduced its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 19.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 125,833 shares of the company’s stock after selling 29,788 shares during the period. QRG Capital Management Inc.’s holdings in DoorDash were worth $17,960,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of DASH. Meeder Asset Management Inc. lifted its holdings in shares of DoorDash by 82.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after acquiring an additional 132 shares during the period. Headlands Technologies LLC purchased a new position in DoorDash in the second quarter valued at approximately $32,000. Versant Capital Management Inc raised its holdings in DoorDash by 340.8% in the second quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock valued at $36,000 after buying an additional 259 shares during the period. ORG Partners LLC raised its holdings in DoorDash by 2,108.3% in the first quarter. ORG Partners LLC now owns 265 shares of the company’s stock valued at $37,000 after buying an additional 253 shares during the period. Finally, Quest Partners LLC raised its holdings in DoorDash by 146.8% in the second quarter. Quest Partners LLC now owns 343 shares of the company’s stock valued at $37,000 after buying an additional 204 shares during the period. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

DoorDash Price Performance

Shares of NASDAQ DASH traded down $0.91 during midday trading on Monday, reaching $154.75. 38,609 shares of the company traded hands, compared to its average volume of 3,826,887. DoorDash, Inc. has a 52 week low of $83.58 and a 52 week high of $165.07. The stock has a 50-day moving average price of $140.40 and a 200 day moving average price of $124.15. The company has a market cap of $63.69 billion, a price-to-earnings ratio of -345.91, a PEG ratio of 359.82 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.17. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The business had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same period in the previous year, the business earned ($0.19) earnings per share. The company’s revenue was up 25.0% on a year-over-year basis. As a group, analysts expect that DoorDash, Inc. will post 0.01 EPS for the current year.

Insiders Place Their Bets

In other DoorDash news, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $130.20, for a total value of $6,510,000.00. Following the sale, the director now directly owns 18,089 shares in the company, valued at approximately $2,355,187.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Tony Xu sold 54,166 shares of DoorDash stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $123.43, for a total value of $6,685,709.38. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $130.20, for a total value of $6,510,000.00. Following the transaction, the director now directly owns 18,089 shares in the company, valued at approximately $2,355,187.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 378,705 shares of company stock worth $53,125,040. 7.92% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. UBS Group raised their price target on shares of DoorDash from $143.00 to $160.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Truist Financial raised their price target on shares of DoorDash from $170.00 to $180.00 and gave the company a “buy” rating in a report on Thursday. Bank of America raised their price target on shares of DoorDash from $168.00 to $172.00 and gave the company a “buy” rating in a report on Thursday. Wells Fargo & Company lifted their price objective on shares of DoorDash from $127.00 to $142.00 and gave the company an “equal weight” rating in a research note on Friday, October 4th. Finally, Jefferies Financial Group lifted their price objective on shares of DoorDash from $155.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Ten investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat.com, DoorDash currently has an average rating of “Moderate Buy” and an average target price of $163.12.

DoorDash 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.