Ensign Peak Advisors Inc Decreases Stock Holdings in DoorDash, Inc. (NASDAQ:DASH)

Ensign Peak Advisors Inc lowered its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 45.0% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 319,616 shares of the company’s stock after selling 260,983 shares during the period. Ensign Peak Advisors Inc owned approximately 0.08% of DoorDash worth $34,768,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in DASH. Octahedron Capital Management L.P. grew its holdings in shares of DoorDash by 209.6% in the second quarter. Octahedron Capital Management L.P. now owns 51,700 shares of the company’s stock worth $5,624,000 after acquiring an additional 35,000 shares during the period. Summit Trail Advisors LLC boosted its position in DoorDash by 3.3% in the second quarter. Summit Trail Advisors LLC now owns 38,130 shares of the company’s stock worth $4,148,000 after purchasing an additional 1,205 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of DoorDash by 1.6% during the 2nd quarter. Pacer Advisors Inc. now owns 18,927 shares of the company’s stock valued at $2,059,000 after purchasing an additional 302 shares during the period. Skandinaviska Enskilda Banken AB publ increased its position in shares of DoorDash by 11.0% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 58,545 shares of the company’s stock valued at $6,369,000 after purchasing an additional 5,803 shares during the last quarter. Finally, Bridges Investment Management Inc. bought a new position in shares of DoorDash in the 2nd quarter worth approximately $254,000. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Wolfe Research initiated coverage on shares of DoorDash in a research report on Tuesday, July 16th. They set an “outperform” rating and a $130.00 target price for the company. KeyCorp initiated coverage on DoorDash in a research note on Thursday, July 11th. They issued a “sector weight” rating for the company. Benchmark reaffirmed a “buy” rating and issued a $150.00 target price on shares of DoorDash in a report on Tuesday, July 30th. Oppenheimer upped their price target on DoorDash from $125.00 to $145.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, BTIG Research raised DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 price objective on the stock in a research note on Thursday. Eleven analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $143.00.

Insider Activity

In related news, Director Shona L. Brown sold 1,712 shares of DoorDash stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $110.97, for a total value of $189,980.64. Following the completion of the transaction, the director now owns 70,191 shares in the company, valued at $7,789,095.27. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other DoorDash news, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $105.57, for a total transaction of $5,278,500.00. Following the transaction, the director now owns 19,982 shares in the company, valued at $2,109,499.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Shona L. Brown sold 1,712 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $110.97, for a total transaction of $189,980.64. Following the completion of the sale, the director now owns 70,191 shares of the company’s stock, valued at approximately $7,789,095.27. The disclosure for this sale can be found here. In the last three months, insiders have sold 304,769 shares of company stock worth $34,760,113. 7.92% of the stock is currently owned by corporate insiders.

DoorDash Price Performance

Shares of DASH opened at $139.72 on Monday. The stock has a market capitalization of $57.13 billion, a price-to-earnings ratio of -129.37, a price-to-earnings-growth ratio of 275.59 and a beta of 1.69. DoorDash, Inc. has a 1 year low of $69.90 and a 1 year high of $143.34. The business’s 50 day simple moving average is $121.37 and its 200-day simple moving average is $121.44.

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

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.