DoorDash, Inc. (NASDAQ:DASH) Shares Sold by Cullinan Associates Inc.

Cullinan Associates Inc. cut its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 36.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,000 shares of the company’s stock after selling 6,800 shares during the quarter. Cullinan Associates Inc.’s holdings in DoorDash were worth $1,653,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of DASH. O Shaughnessy Asset Management LLC purchased a new position in shares of DoorDash in the 3rd quarter valued at $325,000. Bank of Nova Scotia increased its holdings in DoorDash by 685.9% in the 3rd quarter. Bank of Nova Scotia now owns 46,751 shares of the company’s stock valued at $3,715,000 after purchasing an additional 40,802 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new position in DoorDash in the third quarter valued at about $1,103,000. Kinetic Partners Management LP lifted its stake in shares of DoorDash by 8.8% during the third quarter. Kinetic Partners Management LP now owns 960,612 shares of the company’s stock worth $76,340,000 after purchasing an additional 77,500 shares in the last quarter. Finally, Scopus Asset Management L.P. purchased a new stake in shares of DoorDash in the third quarter worth about $19,868,000. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at DoorDash

In other news, Director Shona L. Brown sold 700 shares of the stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $141.60, for a total value of $99,120.00. Following the completion of the sale, the director now directly owns 70,111 shares of the company’s stock, valued at $9,927,717.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Shona L. Brown sold 700 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $141.60, for a total transaction of $99,120.00. Following the transaction, the director now owns 70,111 shares of the company’s stock, valued at $9,927,717.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Tony Xu sold 132,300 shares of DoorDash stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $133.51, for a total transaction of $17,663,373.00. The disclosure for this sale can be found here. Insiders have sold a total of 485,325 shares of company stock valued at $59,112,461 in the last 90 days. 7.92% of the stock is currently owned by corporate insiders.

DoorDash Price Performance

DoorDash stock opened at $107.45 on Wednesday. DoorDash, Inc. has a fifty-two week low of $69.90 and a fifty-two week high of $143.34. The firm’s 50 day simple moving average is $114.79 and its 200-day simple moving average is $117.44. The company has a market cap of $43.94 billion, a P/E ratio of -99.49, a price-to-earnings-growth ratio of 27.50 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last released its earnings results on Wednesday, May 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. The company had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.45 billion. DoorDash had a negative return on equity of 6.28% and a negative net margin of 4.61%. The company’s revenue for the quarter was up 23.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.41) earnings per share. On average, analysts expect that DoorDash, Inc. will post 0.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Roth Mkm reduced their target price on shares of DoorDash from $121.00 to $118.00 and set a “neutral” rating on the stock in a research report on Thursday, May 2nd. JMP Securities lowered their target price on DoorDash from $160.00 to $140.00 and set a “market outperform” rating for the company in a research note on Thursday, May 2nd. Wells Fargo & Company boosted their price target on DoorDash from $100.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 4th. Royal Bank of Canada lowered their price objective on DoorDash from $175.00 to $165.00 and set an “outperform” rating for the company in a research note on Thursday, May 2nd. Finally, Citigroup upped their target price on DoorDash from $141.00 to $144.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Eight equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, DoorDash currently has an average rating of “Moderate Buy” and an average target price of $134.79.

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.