DoorDash, Inc. (NYSE:DASH) Position Trimmed by Jump Financial LLC

Posted by Defense World Staff on Aug 8th, 2023

Jump Financial LLC lowered its stake in DoorDash, Inc. (NYSE:DASH – Free Report) by 92.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,965 shares of the company’s stock after selling 71,547 shares during the period. Jump Financial LLC’s holdings in DoorDash were worth $379,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of DASH. Nordea Investment Management AB increased its position in shares of DoorDash by 1.1% in the first quarter. Nordea Investment Management AB now owns 16,494 shares of the company’s stock worth $1,032,000 after acquiring an additional 177 shares in the last quarter. Bessemer Group Inc. raised its stake in DoorDash by 1.0% during the 4th quarter. Bessemer Group Inc. now owns 651,297 shares of the company’s stock valued at $31,796,000 after purchasing an additional 6,471 shares during the period. Avestar Capital LLC purchased a new stake in shares of DoorDash in the first quarter valued at $529,000. Geode Capital Management LLC boosted its position in shares of DoorDash by 5.5% in the fourth quarter. Geode Capital Management LLC now owns 3,330,443 shares of the company’s stock worth $162,412,000 after buying an additional 172,301 shares during the period. Finally, Machina Capital S.A.S. purchased a new position in shares of DoorDash during the first quarter valued at $127,000. Institutional investors and hedge funds own 75.09% of the company’s stock.

DoorDash Stock Performance

Shares of DoorDash stock opened at $84.36 on Tuesday. The firm has a fifty day simple moving average of $77.47 and a 200-day simple moving average of $66.63. DoorDash, Inc. has a 1-year low of $41.37 and a 1-year high of $92.61.

DoorDash (NYSE:DASH – Get Free Report) last released its earnings results on Wednesday, August 2nd. The company reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.02). DoorDash had a negative return on equity of 13.14% and a negative net margin of 16.47%. The firm had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same period in the prior year, the firm earned ($0.72) EPS. The firm’s revenue was up 32.6% on a year-over-year basis. Equities research analysts anticipate that DoorDash, Inc. will post -1.72 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Roth Mkm increased their price objective on DoorDash from $73.00 to $91.00 and gave the stock a “neutral” rating in a research note on Thursday, August 3rd. UBS Group raised their price target on shares of DoorDash from $70.00 to $100.00 in a report on Thursday, August 3rd. Morgan Stanley upped their price objective on shares of DoorDash from $72.00 to $95.00 and gave the company an “equal weight” rating in a research note on Thursday, August 3rd. Wedbush lifted their target price on shares of DoorDash from $75.00 to $85.00 and gave the company a “neutral” rating in a research note on Thursday, August 3rd. Finally, The Goldman Sachs Group upped their price target on shares of DoorDash from $73.00 to $98.00 and gave the stock a “neutral” rating in a research note on Friday. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, DoorDash presently has an average rating of “Hold” and a consensus price target of $87.73.

Read Our Latest Report on DASH

Insider Buying and Selling

In other news, insider Keith Yandell sold 9,172 shares of the stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $66.88, for a total value of $613,423.36. Following the completion of the sale, the insider now directly owns 244,405 shares of the company’s stock, valued at $16,345,806.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Gordon S. Lee sold 1,000 shares of the business’s stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $68.94, for a total transaction of $68,940.00. Following the transaction, the chief accounting officer now directly owns 113,276 shares in the company, valued at $7,809,247.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Keith Yandell sold 9,172 shares of the company’s stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $66.88, for a total value of $613,423.36. Following the completion of the transaction, the insider now directly owns 244,405 shares of the company’s stock, valued at approximately $16,345,806.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 872,722 shares of company stock valued at $64,543,750. Insiders own 9.59% of the company’s stock.

About DoorDash

(Free Report)

DoorDash, Inc operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash and Wolt marketplaces, which provides an array of services that enable merchants to solve mission-critical challenges, such as customer acquisition, delivery, insights and analytics, merchandising, payment processing, and customer support; DashPass and Wolt+, a membership products; and offers DoorDash Drive and Wolt Drive, a white-label delivery fulfillment services; DoorDash Storefront that enables merchants to offer consumers on-demand access to e-commerce; and Bbot, which offers merchants digital ordering and payment solutions for in-store and online channels.