Gateway Investment Advisers LLC Cuts Stock Holdings in DoorDash, Inc. (NASDAQ:DASH)

Gateway Investment Advisers LLC cut its stake in DoorDash, Inc. (NASDAQ:DASH) by 49.1% in the third quarter, Holdings Channel.com reports. The firm owned 7,387 shares of the company’s stock after selling 7,139 shares during the quarter. Gateway Investment Advisers LLC’s holdings in DoorDash were worth $1,054,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in DASH. Vanguard Group Inc. lifted its stake in DoorDash by 8.4% during the fourth quarter. Vanguard Group Inc. now owns 29,303,496 shares of the company’s stock worth $2,897,823,000 after purchasing an additional 2,259,976 shares in the last quarter. Baillie Gifford & Co. raised its stake in DoorDash by 0.8% in the second quarter. Baillie Gifford & Co. now owns 12,497,488 shares of the company’s stock valued at $1,359,477,000 after buying an additional 94,241 shares in the last quarter. Capital World Investors raised its stake in DoorDash by 0.8% in the first quarter. Capital World Investors now owns 9,470,247 shares of the company’s stock valued at $1,304,242,000 after buying an additional 74,504 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in DoorDash by 4.6% in 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 buying an additional 242,956 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in DoorDash by 11,416.7% in the first 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 in the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on DASH. Needham & Company LLC raised their price objective on DoorDash from $137.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Redburn Atlantic started coverage on DoorDash in a report on Friday, July 26th. They set a “buy” rating and a $170.00 price target on the stock. Piper Sandler reissued a “neutral” rating and set a $125.00 price target (up previously from $115.00) on shares of DoorDash in a report on Friday, August 2nd. Oppenheimer raised their price objective on shares of DoorDash from $145.00 to $160.00 and gave the company an “outperform” rating in a research report on Friday, September 27th. Finally, BMO Capital Markets raised their price objective on shares of DoorDash from $127.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Ten analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $146.91.

Insider Activity

In other DoorDash news, CFO Ravi Inukonda sold 7,000 shares of the business’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $106.64, for a total value of $746,480.00. Following the completion of the transaction, the chief financial officer now directly owns 417,223 shares of the company’s stock, valued at approximately $44,492,660.72. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Shona L. Brown sold 5,005 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $120.00, for a total transaction of $600,600.00. Following the completion of the transaction, the director now owns 65,186 shares in the company, valued at approximately $7,822,320. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Ravi Inukonda sold 7,000 shares of the stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $106.64, for a total transaction of $746,480.00. Following the completion of the sale, the chief financial officer now owns 417,223 shares of the company’s stock, valued at approximately $44,492,660.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 177,337 shares of company stock worth $23,024,299. Corporate insiders own 7.92% of the company’s stock.

DoorDash Price Performance

Shares of DASH opened at $149.44 on Monday. The company has a market capitalization of $61.50 billion, a PE ratio of -146.51, a price-to-earnings-growth ratio of 425.82 and a beta of 1.70. DoorDash, Inc. has a one year low of $69.90 and a one year high of $150.00. The company’s fifty day moving average price is $132.50 and its 200 day moving average price is $122.41.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.29). DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. The company had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter in the previous year, the firm posted ($0.44) EPS. The business’s revenue for the quarter was up 23.3% compared to the same quarter last year. Analysts anticipate that DoorDash, Inc. will post 0.01 earnings per share for the current year.

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.