Victory Capital Management Inc. Sells 7,547 Shares of DoorDash, Inc. (NASDAQ:DASH)

Victory Capital Management Inc. lowered its stake in DoorDash, Inc. (NASDAQ:DASH) by 2.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 256,326 shares of the company’s stock after selling 7,547 shares during the period. Victory Capital Management Inc.’s holdings in DoorDash were worth $36,585,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Janus Henderson Group PLC increased its holdings in DoorDash by 11,416.7% in the 1st quarter. Janus Henderson Group PLC now owns 3,455,116 shares of the company’s stock valued at $475,837,000 after buying an additional 3,425,115 shares during the period. Baillie Gifford & Co. boosted its position in shares of DoorDash by 13.2% during the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock worth $2,018,584,000 after acquiring an additional 1,645,186 shares in the last quarter. Dragoneer Investment Group LLC increased its stake in DoorDash by 77.9% in the second quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company’s stock valued at $309,755,000 after acquiring an additional 1,246,567 shares during the last quarter. Canada Pension Plan Investment Board raised its position in DoorDash by 595.2% during the first quarter. Canada Pension Plan Investment Board now owns 891,879 shares of the company’s stock valued at $122,830,000 after purchasing an additional 763,579 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in DoorDash by 216.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,082,362 shares of the company’s stock valued at $154,486,000 after purchasing an additional 739,961 shares in the last quarter. Institutional investors own 90.64% of the company’s stock.

Insiders Place Their Bets

In other DoorDash news, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the completion of the sale, the director now directly owns 18,089 shares of the company’s stock, valued at approximately $2,355,187.80. The trade was a 73.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Tony Xu sold 54,166 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $140.06, for a total value of $7,586,489.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 324,539 shares of company stock worth $46,439,330. Insiders own 7.92% of the company’s stock.

DoorDash Price Performance

Shares of DoorDash stock opened at $169.43 on Friday. The business has a 50-day simple moving average of $149.01 and a 200 day simple moving average of $126.98. DoorDash, Inc. has a one year low of $92.56 and a one year high of $178.16. The firm has a market capitalization of $70.38 billion, a price-to-earnings ratio of -376.51, a PEG ratio of 14.79 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.21 by $0.17. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The firm had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the previous year, the company posted ($0.19) earnings per share. The company’s quarterly revenue was up 25.0% on a year-over-year basis. On average, sell-side analysts expect that DoorDash, Inc. will post 0.24 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on DASH shares. UBS Group lifted their price target on DoorDash from $143.00 to $160.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Morgan Stanley lifted their target price on DoorDash from $145.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Wells Fargo & Company increased their target price on shares of DoorDash from $127.00 to $142.00 and gave the stock an “equal weight” rating in a report on Friday, October 4th. Susquehanna lifted their price target on shares of DoorDash from $140.00 to $180.00 and gave the company a “positive” rating in a report on Friday, November 1st. Finally, The Goldman Sachs Group increased their price objective on shares of DoorDash from $142.00 to $161.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Ten research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $164.03.

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.