Coronation Fund Managers Ltd. Lowers Stock Position in DoorDash, Inc. (NASDAQ:DASH)

Coronation Fund Managers Ltd. lessened its stake in DoorDash, Inc. (NASDAQ:DASH) by 76.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,784 shares of the company’s stock after selling 276,467 shares during the period. Coronation Fund Managers Ltd.’s holdings in DoorDash were worth $9,332,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. ORG Partners LLC increased its stake in DoorDash by 2,108.3% in the first quarter. ORG Partners LLC now owns 265 shares of the company’s stock valued at $37,000 after acquiring an additional 253 shares during the last quarter. Headlands Technologies LLC purchased a new position in shares of DoorDash during the 2nd quarter valued at about $32,000. Meeder Asset Management Inc. lifted its position in DoorDash by 82.0% in the 2nd quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after buying an additional 132 shares during the last quarter. Hollencrest Capital Management purchased a new stake in DoorDash in the first quarter worth approximately $42,000. Finally, Versant Capital Management Inc grew its position in DoorDash by 340.8% during the second quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock valued at $36,000 after acquiring an additional 259 shares during the last quarter. Institutional investors own 90.64% of the company’s stock.

Insider Buying and Selling

In other DoorDash news, CEO Tony Xu sold 54,166 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $140.06, for a total value of $7,586,489.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $105.57, for a total transaction of $5,278,500.00. Following the sale, the director now owns 19,982 shares of the company’s stock, valued at approximately $2,109,499.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Tony Xu sold 54,166 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $140.06, for a total value of $7,586,489.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 281,503 shares of company stock valued at $33,988,063. 7.92% of the stock is owned by corporate insiders.

DoorDash Trading Down 0.6 %

Shares of NASDAQ DASH opened at $141.93 on Wednesday. DoorDash, Inc. has a 12-month low of $69.90 and a 12-month high of $146.36. The firm has a market capitalization of $58.04 billion, a price-to-earnings ratio of -131.42, a price-to-earnings-growth ratio of 295.70 and a beta of 1.69. The firm has a 50 day moving average of $126.59 and a 200 day moving average of $121.97.

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

Wall Street Analysts Forecast Growth

DASH has been the subject of a number of recent research reports. Argus assumed coverage on shares of DoorDash in a report on Tuesday, July 23rd. They issued a “hold” rating for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price target on shares of DoorDash in a report on Monday. Wedbush reaffirmed a “neutral” rating and set a $115.00 price objective on shares of DoorDash in a research note on Friday, August 2nd. Oppenheimer increased their target price on shares of DoorDash from $145.00 to $160.00 and gave the stock an “outperform” rating in a report on Friday, September 27th. Finally, Benchmark restated a “buy” rating and set a $150.00 price target on shares of DoorDash in a report on Tuesday, July 30th. Ten equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $146.44.

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.