DoorDash, Inc. $DASH Shares Sold by Westpac Banking Corp

Westpac Banking Corp cut its holdings in DoorDash, Inc. (NASDAQ:DASH) by 43.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,410 shares of the company’s stock after selling 5,700 shares during the quarter. Westpac Banking Corp’s holdings in DoorDash were worth $1,678,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Physician Wealth Advisors Inc. grew its position in shares of DoorDash by 284.0% in the third quarter. Physician Wealth Advisors Inc. now owns 96 shares of the company’s stock valued at $26,000 after purchasing an additional 71 shares during the last quarter. Eastern Bank grew its position in shares of DoorDash by 714.3% in the fourth quarter. Eastern Bank now owns 114 shares of the company’s stock valued at $26,000 after purchasing an additional 100 shares during the last quarter. ST Germain D J Co. Inc. acquired a new stake in shares of DoorDash in the fourth quarter valued at approximately $29,000. Sunbelt Securities Inc. grew its position in shares of DoorDash by 124.1% in the third quarter. Sunbelt Securities Inc. now owns 121 shares of the company’s stock valued at $33,000 after purchasing an additional 67 shares during the last quarter. Finally, Morse Asset Management Inc acquired a new stake in shares of DoorDash in the third quarter valued at approximately $36,000. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at DoorDash

In other news, insider Keith Yandell sold 2,643 shares of the 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 completion of 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stanley Tang sold 21,433 shares of the stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $150.00, for a total transaction of $3,214,950.00. Following the completion of the transaction, the director owned 19,279 shares of the company’s stock, valued at approximately $2,891,850. This represents a 52.65% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 69,808 shares of company stock worth $11,135,403 in the last quarter. 5.83% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

DASH has been the topic of several research reports. The Goldman Sachs Group set a $280.00 price target on shares of DoorDash in a research report on Thursday, May 7th. Morgan Stanley reissued an “overweight” rating and issued a $275.00 target price on shares of DoorDash in a research report on Thursday, February 19th. Barclays decreased their price target on shares of DoorDash from $238.00 to $220.00 and set an “equal weight” rating for the company in a report on Thursday, February 19th. UBS Group boosted their price target on shares of DoorDash from $206.00 to $214.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Finally, Sanford C. Bernstein dropped their target price on shares of DoorDash from $285.00 to $270.00 and set an “outperform” rating on the stock in a report on Thursday, February 19th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $259.58.

DoorDash Stock Performance

DASH stock opened at $154.58 on Thursday. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $67.35 billion, a price-to-earnings ratio of 73.61 and a beta of 1.83. DoorDash, Inc. has a 12 month low of $143.30 and a 12 month high of $285.50. The firm has a 50 day moving average of $162.22 and a two-hundred day moving average of $186.38.

DoorDash (NASDAQ:DASH) last posted its earnings results on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.36 by $0.06. The company 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 for the quarter was up 33.1% compared to the same quarter last year. During the same period 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 fiscal year.

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.