DoorDash, Inc. (NASDAQ:DASH) Holdings Reduced by Hsbc Holdings PLC

Hsbc Holdings PLC lessened its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 32.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 240,030 shares of the company’s stock after selling 116,156 shares during the period. Hsbc Holdings PLC owned 0.06% of DoorDash worth $26,015,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Wells Fargo & Company MN increased its position in DoorDash by 102.5% in the 4th quarter. Wells Fargo & Company MN now owns 199,152 shares of the company’s stock valued at $19,694,000 after acquiring an additional 100,787 shares during the period. Jupiter Asset Management Ltd. acquired a new position in shares of DoorDash during the first quarter valued at $2,969,000. Bank of Nova Scotia increased its holdings in shares of DoorDash by 298.3% during the fourth quarter. Bank of Nova Scotia now owns 186,201 shares of the company’s stock valued at $18,413,000 after purchasing an additional 139,450 shares during the period. D L Carlson Investment Group Inc. bought a new stake in shares of DoorDash during the fourth quarter valued at about $2,421,000. Finally, KBC Group NV lifted its holdings in DoorDash by 64.8% in the fourth quarter. KBC Group NV now owns 31,879 shares of the company’s stock worth $3,153,000 after purchasing an additional 12,538 shares during the period. Institutional investors own 90.64% of the company’s stock.

DoorDash Trading Up 1.8 %

Shares of DoorDash stock opened at $139.72 on Friday. DoorDash, Inc. has a 1 year low of $69.90 and a 1 year high of $143.34. The company has a market cap of $57.13 billion, a P/E ratio of -129.37, a P/E/G ratio of 275.59 and a beta of 1.69. The stock has a 50-day moving average price of $121.37 and a 200 day moving average price of $121.58.

DoorDash (NASDAQ:DASH) last issued its earnings results on Thursday, August 1st. The company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.29). The business had revenue of $2.63 billion during the quarter, compared to analyst estimates of $2.54 billion. DoorDash had a negative net margin of 4.24% and a negative return on equity of 5.91%. DoorDash’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.44) EPS. On average, equities analysts forecast that DoorDash, Inc. will post 0.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. UBS Group boosted their price target on shares of DoorDash from $125.00 to $143.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Piper Sandler restated a “neutral” rating and issued a $125.00 target price (up from $115.00) on shares of DoorDash in a research report on Friday, August 2nd. Wells Fargo & Company increased their price target on DoorDash from $125.00 to $127.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Roth Mkm boosted their price objective on DoorDash from $118.00 to $124.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. Finally, DA Davidson upped their price objective on DoorDash from $110.00 to $119.00 and gave the company a “neutral” rating in a report on Monday, August 5th. Eleven investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, DoorDash currently has an average rating of “Moderate Buy” and a consensus price target of $143.00.

Insider Buying and Selling at DoorDash

In other DoorDash news, insider Keith Yandell sold 6,554 shares of DoorDash stock in a transaction on Monday, July 1st. The shares were sold at an average price of $107.75, for a total transaction of $706,193.50. Following the completion of the sale, the insider now owns 155,097 shares of the company’s stock, valued at approximately $16,711,701.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Keith Yandell sold 6,554 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $107.75, for a total transaction of $706,193.50. Following the completion of the sale, the insider now directly owns 155,097 shares of the company’s stock, valued at approximately $16,711,701.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Tony Xu sold 54,166 shares of DoorDash stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $107.75, for a total value of $5,836,386.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 304,769 shares of company stock worth $34,760,113. 7.92% of the stock is currently owned by company insiders.

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.