Franklin Resources Inc. Sells 908,455 Shares of DoorDash, Inc. $DASH

Franklin Resources Inc. trimmed its stake in DoorDash, Inc. (NASDAQ:DASH) by 24.0% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,876,975 shares of the company’s stock after selling 908,455 shares during the period. Franklin Resources Inc.’s holdings in DoorDash were worth $651,577,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Erste Asset Management GmbH boosted its stake in DoorDash by 14.4% during the fourth quarter. Erste Asset Management GmbH now owns 2,228 shares of the company’s stock worth $515,000 after buying an additional 280 shares during the period. Fiera Capital Corp raised its stake in shares of DoorDash by 34.0% in the fourth quarter. Fiera Capital Corp now owns 77,810 shares of the company’s stock valued at $17,622,000 after acquiring an additional 19,734 shares during the period. Krane Funds Advisors LLC bought a new stake in shares of DoorDash in the 4th quarter worth about $1,382,000. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna lifted its holdings in shares of DoorDash by 144.7% in the 4th quarter. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna now owns 2,440 shares of the company’s stock worth $553,000 after acquiring an additional 1,443 shares during the last quarter. Finally, Nemes Rush Group LLC boosted its stake in shares of DoorDash by 23.0% during the 4th quarter. Nemes Rush Group LLC now owns 1,471 shares of the company’s stock worth $333,000 after purchasing an additional 275 shares during the period. Hedge funds and other institutional investors own 90.64% of the company’s stock.

DoorDash Price Performance

Shares of DASH stock opened at $152.49 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.43 and a quick ratio of 1.43. The company has a market capitalization of $66.44 billion, a P/E ratio of 72.61 and a beta of 1.83. The company’s 50-day simple moving average is $162.41 and its two-hundred day simple moving average is $185.25. DoorDash, Inc. has a one year low of $143.30 and a one year high of $285.50.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.06. The firm had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $4.15 billion. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The company’s revenue was up 33.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.44 earnings per share. As a group, equities analysts anticipate that DoorDash, Inc. will post 2.45 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on DASH shares. Barclays cut their price target on shares of DoorDash from $238.00 to $220.00 and set an “equal weight” rating on the stock in a report on Thursday, February 19th. Truist Financial dropped their target price on DoorDash from $340.00 to $330.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. KeyCorp upped their target price on DoorDash from $275.00 to $280.00 and gave the company an “overweight” rating in a research note on Thursday, February 19th. DA Davidson reduced their price target on DoorDash from $224.00 to $200.00 and set a “neutral” rating on the stock in a report on Thursday, May 7th. Finally, Bank of America boosted their price objective on DoorDash from $260.00 to $272.00 and gave the company a “buy” rating in a report on Thursday, February 19th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $259.58.

Insider Transactions at DoorDash

In other news, General Counsel Tia Sherringham sold 2,743 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $160.79, for a total transaction of $441,046.97. Following the transaction, the general counsel owned 128,216 shares of the company’s stock, valued at approximately $20,615,850.64. This represents a 2.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Keith Yandell sold 2,643 shares of the firm’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $155.34, for a total value of $410,563.62. Following the transaction, the insider owned 81,106 shares in the company, valued at approximately $12,599,006.04. This represents a 3.16% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 68,558 shares of company stock valued at $10,914,640. Company insiders own 5.83% of the company’s stock.

DoorDash Company Profile

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.