Sterling Capital Management LLC Boosts Position in DoorDash, Inc. $DASH

Sterling Capital Management LLC boosted its holdings in DoorDash, Inc. (NASDAQ:DASH) by 240.6% in the second quarter, HoldingsChannel.com reports. The firm owned 41,941 shares of the company’s stock after buying an additional 29,628 shares during the quarter. Sterling Capital Management LLC’s holdings in DoorDash were worth $10,339,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GFG Capital LLC acquired a new position in shares of DoorDash in the 2nd quarter valued at $30,000. Saudi Central Bank purchased a new stake in DoorDash in the first quarter valued at $25,000. WPG Advisers LLC purchased a new stake in DoorDash in the first quarter valued at $26,000. Pacific Center for Financial Services acquired a new position in DoorDash in the first quarter valued at $27,000. Finally, Harbour Investments Inc. grew its holdings in shares of DoorDash by 55.6% during the first quarter. Harbour Investments Inc. now owns 196 shares of the company’s stock worth $36,000 after purchasing an additional 70 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

Insider Buying and Selling

In other news, Director Shona L. Brown sold 1,250 shares of the company’s stock in a transaction on Thursday, October 9th. The shares were sold at an average price of $277.47, for a total transaction of $346,837.50. Following the transaction, the director directly owned 37,252 shares of the company’s stock, valued at $10,336,312.44. This represents a 3.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Andy Fang sold 30,000 shares of the company’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $244.39, for a total transaction of $7,331,700.00. The disclosure for this sale is available in the SEC filing. Insiders have sold 876,527 shares of company stock valued at $218,129,954 in the last quarter. Corporate insiders own 5.83% of the company’s stock.

Wall Street Analyst Weigh In

DASH has been the subject of several research reports. JMP Securities boosted their target price on DoorDash from $250.00 to $335.00 and gave the company a “market outperform” rating in a report on Thursday, August 7th. BTIG Research reaffirmed a “buy” rating and set a $315.00 price target on shares of DoorDash in a research report on Thursday. Loop Capital reissued a “buy” rating on shares of DoorDash in a report on Tuesday, July 15th. DA Davidson reaffirmed a “neutral” rating and issued a $260.00 target price on shares of DoorDash in a report on Thursday. Finally, Stifel Nicolaus decreased their price target on shares of DoorDash from $255.00 to $253.00 and set a “hold” rating for the company in a research note on Thursday. Four investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $283.15.

DoorDash Stock Down 17.5%

DASH stock opened at $196.46 on Friday. DoorDash, Inc. has a one year low of $155.40 and a one year high of $285.50. The stock has a market capitalization of $83.93 billion, a PE ratio of 99.73 and a beta of 1.70. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.07 and a current ratio of 2.07. The company has a fifty day moving average of $259.57 and a 200-day moving average of $237.02.

DoorDash (NASDAQ:DASH) last issued its earnings results on Wednesday, November 5th. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.13). The business had revenue of $3.45 billion for the quarter, compared to analysts’ expectations of $3.35 billion. DoorDash had a return on equity of 10.31% and a net margin of 6.83%.The business’s quarterly revenue was up 27.3% on a year-over-year basis. During the same period last year, the company posted $0.38 earnings per share. As a group, analysts expect that DoorDash, Inc. will post 2.22 EPS for the current year.

DoorDash 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.