Cullinan Associates Inc. Cuts Stock Holdings in DoorDash, Inc. (NASDAQ:DASH)

Cullinan Associates Inc. lowered its position in DoorDash, Inc. (NASDAQ:DASH) by 36.2% in the 1st quarter, HoldingsChannel.com reports. The firm owned 12,000 shares of the company’s stock after selling 6,800 shares during the period. Cullinan Associates Inc.’s holdings in DoorDash were worth $1,653,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of DoorDash by 8.4% in the 4th quarter. Vanguard Group Inc. now owns 29,303,496 shares of the company’s stock worth $2,897,823,000 after buying an additional 2,259,976 shares during the last quarter. Baillie Gifford & Co. lifted its holdings in DoorDash by 6.4% during the fourth quarter. Baillie Gifford & Co. now owns 12,775,622 shares of the company’s stock worth $1,263,381,000 after acquiring an additional 772,977 shares during the period. Capital World Investors boosted its position in DoorDash by 0.6% in the fourth quarter. Capital World Investors now owns 9,395,743 shares of the company’s stock worth $929,145,000 after purchasing an additional 60,033 shares during the last quarter. First Trust Advisors LP grew its stake in DoorDash by 45.6% in the 4th quarter. First Trust Advisors LP now owns 3,079,083 shares of the company’s stock valued at $304,490,000 after purchasing an additional 964,860 shares during the period. Finally, Norges Bank purchased a new stake in shares of DoorDash during the 4th quarter valued at $264,806,000. 90.64% of the stock is owned by institutional investors.

Insider Transactions at DoorDash

In related news, CFO Ravi Inukonda sold 7,000 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $109.30, for a total transaction of $765,100.00. Following the completion of the sale, the chief financial officer now directly owns 424,223 shares in the company, valued at approximately $46,367,573.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Ravi Inukonda sold 7,000 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $109.30, for a total transaction of $765,100.00. Following the transaction, the chief financial officer now directly owns 424,223 shares of the company’s stock, valued at $46,367,573.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Andy Fang sold 66,195 shares of the firm’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $139.31, for a total value of $9,221,625.45. Following the completion of the sale, the director now directly owns 36,482 shares of the company’s stock, valued at approximately $5,082,307.42. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 485,325 shares of company stock worth $59,112,461. Insiders own 7.92% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on DASH. Roth Mkm decreased their price objective on shares of DoorDash from $121.00 to $118.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. Moffett Nathanson raised DoorDash from a “neutral” rating to a “buy” rating and raised their target price for the stock from $118.00 to $164.00 in a research report on Thursday, April 11th. Piper Sandler raised DoorDash from an “underweight” rating to a “neutral” rating and upped their price target for the company from $53.00 to $127.00 in a research report on Friday, March 15th. Oppenheimer lifted their price objective on DoorDash from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday, April 29th. Finally, Truist Financial dropped their price objective on shares of DoorDash from $155.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Eight equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, DoorDash presently has an average rating of “Moderate Buy” and an average price target of $134.79.

DoorDash Stock Down 1.0 %

DoorDash stock opened at $107.45 on Wednesday. The firm has a fifty day simple moving average of $114.79 and a two-hundred day simple moving average of $117.44. DoorDash, Inc. has a twelve month low of $69.90 and a twelve month high of $143.34. The company has a market capitalization of $43.94 billion, a PE ratio of -99.49, a P/E/G ratio of 27.50 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last issued its earnings results on Wednesday, May 1st. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.01. The company had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.45 billion. DoorDash had a negative return on equity of 6.28% and a negative net margin of 4.61%. DoorDash’s quarterly revenue was up 23.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.41) EPS. As a group, equities analysts expect that DoorDash, Inc. will post 0.11 earnings per share for the current fiscal year.

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.