Primecap Management Co. CA Sells 410 Shares of DoorDash, Inc. (NASDAQ:DASH)

Primecap Management Co. CA lessened its holdings in DoorDash, Inc. (NASDAQ:DASH) by 0.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 130,160 shares of the company’s stock after selling 410 shares during the period. Primecap Management Co. CA’s holdings in DoorDash were worth $18,578,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Baillie Gifford & Co. lifted 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 buying an additional 1,645,186 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of DoorDash by 4.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,469,647 shares of the company’s stock valued at $753,281,000 after acquiring an additional 242,956 shares during the period. Janus Henderson Group PLC boosted its stake in shares of 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 purchasing an additional 3,425,115 shares in the last quarter. Dragoneer Investment Group LLC grew its holdings in shares of DoorDash by 77.9% in the 2nd quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company’s stock worth $309,755,000 after purchasing an additional 1,246,567 shares during the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of DoorDash by 16.4% during the 2nd quarter. Renaissance Technologies LLC now owns 2,787,843 shares of the company’s stock worth $303,262,000 after purchasing an additional 392,300 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Wedbush reaffirmed a “neutral” rating and set a $115.00 price objective on shares of DoorDash in a research note on Friday, August 2nd. Mizuho raised their price target on DoorDash from $162.00 to $173.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. The Goldman Sachs Group boosted their price objective on DoorDash from $142.00 to $161.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Susquehanna raised their target price on DoorDash from $140.00 to $180.00 and gave the company a “positive” rating in a research note on Friday, November 1st. Finally, Royal Bank of Canada upped their price target on shares of DoorDash from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Ten analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.03.

DoorDash Stock Up 2.4 %

Shares of DASH opened at $177.24 on Friday. DoorDash, Inc. has a twelve month low of $92.56 and a twelve month high of $178.16. The stock has a market capitalization of $73.63 billion, a P/E ratio of -393.87, a P/E/G ratio of 14.82 and a beta of 1.67. The company has a 50 day moving average of $153.61 and a 200-day moving average of $128.87.

DoorDash (NASDAQ:DASH) last released its earnings results 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 during the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter last year, the firm earned ($0.19) earnings per share. The firm’s revenue for the quarter was up 25.0% compared to the same quarter last year. On average, sell-side analysts anticipate that DoorDash, Inc. will post 0.24 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Tony Xu sold 54,166 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $140.06, for a total transaction of $7,586,489.96. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Stanley Tang sold 1,855 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $169.98, for a total transaction of $315,312.90. Following the sale, the director now directly owns 35,413 shares in the company, valued at $6,019,501.74. This trade represents a 4.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 547,753 shares of company stock worth $84,544,996 in the last quarter. Corporate insiders own 7.92% of the company’s stock.

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.