Truist Financial Corp Has $353,000 Holdings in DoorDash, Inc. (NASDAQ:DASH)

Truist Financial Corp lessened its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 59.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,241 shares of the company’s stock after selling 4,664 shares during the quarter. Truist Financial Corp’s holdings in DoorDash were worth $353,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Brighton Jones LLC grew its holdings in shares of DoorDash by 0.8% during the 2nd quarter. Brighton Jones LLC now owns 10,317 shares of the company’s stock worth $1,122,000 after purchasing an additional 82 shares in the last quarter. Everhart Financial Group Inc. boosted its stake in DoorDash by 3.1% in the 2nd quarter. Everhart Financial Group Inc. now owns 3,267 shares of the company’s stock valued at $355,000 after buying an additional 99 shares in the last quarter. GAMMA Investing LLC boosted its stake in DoorDash by 17.2% in the 1st quarter. GAMMA Investing LLC now owns 736 shares of the company’s stock valued at $101,000 after buying an additional 108 shares in the last quarter. E Fund Management Co. Ltd. boosted its stake in DoorDash by 3.5% in the 2nd quarter. E Fund Management Co. Ltd. now owns 3,263 shares of the company’s stock valued at $355,000 after buying an additional 111 shares in the last quarter. Finally, SJS Investment Consulting Inc. boosted its stake in DoorDash by 21.0% in the 2nd quarter. SJS Investment Consulting Inc. now owns 673 shares of the company’s stock valued at $73,000 after buying an additional 117 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

Insider Activity at DoorDash

In related news, CEO Tony Xu sold 81,249 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $147.87, for a total value of $12,014,289.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other DoorDash news, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $149.83, for a total value of $7,491,500.00. Following the completion of the transaction, the director now directly owns 18,089 shares of the company’s stock, valued at approximately $2,710,274.87. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Tony Xu sold 81,249 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $147.87, for a total value of $12,014,289.63. The disclosure for this sale can be found here. Over the last quarter, insiders sold 390,710 shares of company stock worth $54,472,120. 7.92% of the stock is owned by insiders.

DoorDash Trading Up 1.0 %

NASDAQ DASH opened at $151.40 on Friday. The stock has a 50-day simple moving average of $134.69 and a 200 day simple moving average of $122.97. The company has a market capitalization of $61.91 billion, a PE ratio of -140.19, a P/E/G ratio of 425.82 and a beta of 1.70. DoorDash, Inc. has a 12 month low of $69.90 and a 12 month high of $152.11.

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

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Wedbush reaffirmed a “neutral” rating and issued a $115.00 price target on shares of DoorDash in a research note on Friday, August 2nd. UBS Group boosted their price target on DoorDash from $125.00 to $143.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Morgan Stanley boosted their price target on DoorDash from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. KeyCorp raised DoorDash from a “sector weight” rating to an “overweight” rating and set a $177.00 price objective on the stock in a research note on Wednesday, September 25th. Finally, Truist Financial boosted their price objective on DoorDash from $145.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Ten investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $147.63.

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.