Resolute Advisors LLC Cuts Stake in DoorDash, Inc. (NASDAQ:DASH)

Resolute Advisors LLC lowered its position in DoorDash, Inc. (NASDAQ:DASH) by 20.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 5,370 shares of the company’s stock after selling 1,400 shares during the period. Resolute Advisors LLC’s holdings in DoorDash were worth $531,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Fifth Third Bancorp lifted its position in DoorDash by 448.8% in the third quarter. Fifth Third Bancorp now owns 439 shares of the company’s stock valued at $35,000 after purchasing an additional 359 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in DoorDash by 361.2% in the fourth quarter. Parkside Financial Bank & Trust now owns 392 shares of the company’s stock valued at $39,000 after purchasing an additional 307 shares during the last quarter. Covestor Ltd lifted its position in DoorDash by 101.2% in the third quarter. Covestor Ltd now owns 503 shares of the company’s stock valued at $40,000 after purchasing an additional 253 shares during the last quarter. Valley National Advisers Inc. bought a new stake in DoorDash in the fourth quarter valued at approximately $43,000. Finally, SJS Investment Consulting Inc. lifted its position in DoorDash by 26.9% in the fourth quarter. SJS Investment Consulting Inc. now owns 462 shares of the company’s stock valued at $46,000 after purchasing an additional 98 shares during the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

DoorDash Stock Performance

NASDAQ DASH traded up $2.44 on Friday, reaching $112.83. 2,850,002 shares of the stock traded hands, compared to its average volume of 5,208,427. The company has a fifty day moving average price of $127.59 and a 200-day moving average price of $114.23. The company has a market cap of $46.14 billion, a price-to-earnings ratio of -104.47, a PEG ratio of 28.13 and a beta of 1.78. DoorDash, Inc. has a 12 month low of $62.83 and a 12 month high of $143.34.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, May 1st. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.01. The firm had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.45 billion. DoorDash had a negative return on equity of 6.28% and a negative net margin of 4.61%. The business’s revenue for the quarter was up 23.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.41) EPS. As a group, research analysts anticipate that DoorDash, Inc. will post 0.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

DASH has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft upped their target price on DoorDash from $140.00 to $155.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Benchmark decreased their target price on DoorDash from $165.00 to $150.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. JMP Securities decreased their price objective on DoorDash from $160.00 to $140.00 and set a “market outperform” rating for the company in a report on Thursday, May 2nd. Royal Bank of Canada decreased their price objective on DoorDash from $175.00 to $165.00 and set an “outperform” rating for the company in a report on Thursday, May 2nd. Finally, Wells Fargo & Company increased their price objective on DoorDash from $100.00 to $125.00 and gave the stock an “equal weight” rating in a report on Thursday, April 4th. Nine investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.28.

Insider Transactions at DoorDash

In other news, CFO Ravi Inukonda sold 7,000 shares of the business’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $130.95, for a total value of $916,650.00. Following the completion of the transaction, the chief financial officer now directly owns 384,425 shares of the company’s stock, valued at approximately $50,340,453.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CAO Gordon S. Lee sold 1,000 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $124.50, for a total transaction of $124,500.00. Following the transaction, the chief accounting officer now directly owns 92,207 shares of the company’s stock, valued at approximately $11,479,771.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Ravi Inukonda sold 7,000 shares of the company’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $130.95, for a total value of $916,650.00. Following the transaction, the chief financial officer now directly owns 384,425 shares in the company, valued at $50,340,453.75. The disclosure for this sale can be found here. In the last three months, insiders sold 415,698 shares of company stock valued at $56,026,819. Corporate insiders own 7.92% of the company’s stock.

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.