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

Gateway Investment Advisers LLC decreased its stake in DoorDash, Inc. (NASDAQ:DASH) by 7.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 6,852 shares of the company’s stock after selling 535 shares during the period. Gateway Investment Advisers LLC’s holdings in DoorDash were worth $1,149,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Rakuten Securities Inc. boosted its holdings in shares of DoorDash by 302.3% in the third quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $25,000 after acquiring an additional 130 shares during the period. ORG Wealth Partners LLC bought a new position in DoorDash in the 4th quarter worth about $36,000. Hollencrest Capital Management purchased a new position in DoorDash during the 3rd quarter valued at about $54,000. Quarry LP bought a new stake in shares of DoorDash during the second quarter valued at about $60,000. Finally, Venturi Wealth Management LLC lifted its holdings in shares of DoorDash by 39.0% in the third quarter. Venturi Wealth Management LLC now owns 424 shares of the company’s stock worth $61,000 after buying an additional 119 shares in the last quarter. 90.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on DASH. Citigroup boosted their target price on DoorDash from $155.00 to $211.00 and gave the stock a “buy” rating in a research report on Wednesday, November 27th. Jefferies Financial Group lifted their price objective on DoorDash from $155.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. JMP Securities reissued a “market outperform” rating and set a $200.00 price target on shares of DoorDash in a research report on Thursday, January 2nd. Piper Sandler upped their price objective on shares of DoorDash from $125.00 to $160.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Evercore ISI boosted their price target on DoorDash from $155.00 to $200.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Nine analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to MarketBeat.com, DoorDash currently has a consensus rating of “Moderate Buy” and a consensus price target of $175.97.

DoorDash Stock Performance

Shares of NASDAQ:DASH opened at $174.48 on Friday. The stock’s 50-day simple moving average is $173.60 and its two-hundred day simple moving average is $145.99. The stock has a market capitalization of $72.48 billion, a price-to-earnings ratio of -387.73, a PEG ratio of 1.77 and a beta of 1.71. DoorDash, Inc. has a 52-week low of $99.32 and a 52-week high of $181.78.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same period in the previous year, the business posted ($0.19) earnings per share. The firm’s quarterly revenue was up 25.0% compared to the same quarter last year. As a group, equities analysts forecast that DoorDash, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Tony Xu sold 108,332 shares of DoorDash stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $170.25, for a total transaction of $18,443,523.00. Following the transaction, the chief executive officer now directly owns 1,500 shares of the company’s stock, valued at $255,375. The trade was a 98.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stanley Tang sold 1,855 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $169.98, for a total value of $315,312.90. Following the transaction, the director now owns 35,413 shares of the company’s stock, valued at approximately $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 a total of 1,019,333 shares of company stock valued at $177,556,541 in the last 90 days. Company insiders own 7.92% of the company’s stock.

DoorDash Company 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.