J. Safra Sarasin Holding AG Trims Stake in DoorDash, Inc. $DASH

J. Safra Sarasin Holding AG lowered its holdings in DoorDash, Inc. (NASDAQ:DASH) by 16.1% during the second quarter, Holdings Channel.com reports. The firm owned 7,517 shares of the company’s stock after selling 1,440 shares during the period. J. Safra Sarasin Holding AG’s holdings in DoorDash were worth $1,853,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DASH. Brighton Jones LLC raised its holdings in DoorDash by 24.0% in the 4th quarter. Brighton Jones LLC now owns 9,336 shares of the company’s stock valued at $1,566,000 after buying an additional 1,807 shares during the period. Merit Financial Group LLC raised its stake in shares of DoorDash by 324.8% in the 1st quarter. Merit Financial Group LLC now owns 12,749 shares of the company’s stock valued at $2,330,000 after acquiring an additional 9,748 shares during the period. RFG Advisory LLC raised its stake in shares of DoorDash by 45.4% in the 1st quarter. RFG Advisory LLC now owns 6,913 shares of the company’s stock valued at $1,263,000 after acquiring an additional 2,159 shares during the period. Intellectus Partners LLC purchased a new stake in shares of DoorDash in the 1st quarter valued at approximately $302,000. Finally, Gateway Investment Advisers LLC raised its stake in shares of DoorDash by 279.1% in the 1st quarter. Gateway Investment Advisers LLC now owns 25,974 shares of the company’s stock valued at $4,747,000 after acquiring an additional 19,122 shares during the period. Hedge funds and other institutional investors own 90.64% of the company’s stock.

DoorDash Trading Up 0.4%

Shares of NASDAQ:DASH opened at $271.22 on Friday. DoorDash, Inc. has a 52 week low of $141.26 and a 52 week high of $278.15. The company’s 50 day moving average is $255.52 and its two-hundred day moving average is $223.92. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.30. The company has a market cap of $115.87 billion, a PE ratio of 150.68 and a beta of 1.71.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.23. The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.16 billion. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. The company’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.38) EPS. Equities analysts predict that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on DASH. Roth Capital boosted their target price on DoorDash from $191.00 to $225.00 and gave the company a “neutral” rating in a research report on Monday, July 14th. Jefferies Financial Group boosted their price objective on DoorDash from $250.00 to $265.00 and gave the company a “hold” rating in a report on Monday, August 11th. Oppenheimer boosted their price objective on DoorDash from $280.00 to $310.00 and gave the company an “outperform” rating in a report on Thursday, August 7th. Wall Street Zen upgraded DoorDash from a “hold” rating to a “buy” rating in a report on Friday. Finally, Benchmark boosted their price target on shares of DoorDash from $260.00 to $315.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and fourteen have given a Hold rating to the stock. Based on data from MarketBeat, DoorDash currently has a consensus rating of “Moderate Buy” and a consensus target price of $275.27.

Insiders Place Their Bets

In other news, COO Prabir Adarkar sold 41,881 shares of the stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $245.82, for a total value of $10,295,187.42. Following the transaction, the chief operating officer owned 914,547 shares in the company, valued at approximately $224,813,943.54. This represents a 4.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Stanley Tang sold 45,410 shares of the stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $247.11, for a total value of $11,221,265.10. Following the completion of the transaction, the director owned 26,070 shares in the company, valued at approximately $6,442,157.70. The trade was a 63.53% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,001,417 shares of company stock worth $249,569,754. 5.83% of the stock is owned by corporate insiders.

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.