Russell Investments Group Ltd. Sells 18,858 Shares of DoorDash, Inc. (NYSE:DASH)

Posted by Defense World Staff on Aug 15th, 2023

Russell Investments Group Ltd. cut its stake in shares of DoorDash, Inc. (NYSE:DASH – Free Report) by 5.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 302,088 shares of the company’s stock after selling 18,858 shares during the quarter. Russell Investments Group Ltd. owned 0.08% of DoorDash worth $19,161,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Morgan Stanley boosted its holdings in DoorDash by 5.0% during the 4th quarter. Morgan Stanley now owns 29,086,197 shares of the company’s stock valued at $1,419,988,000 after acquiring an additional 1,384,006 shares during the period. Vanguard Group Inc. lifted its holdings in DoorDash by 18.8% in the 1st quarter. Vanguard Group Inc. now owns 12,862,889 shares of the company’s stock worth $1,507,402,000 after buying an additional 2,032,637 shares during the period. Baillie Gifford & Co. lifted its holdings in DoorDash by 11.4% in the 1st quarter. Baillie Gifford & Co. now owns 9,726,604 shares of the company’s stock worth $618,223,000 after buying an additional 993,360 shares during the period. Sands Capital Management LLC lifted its holdings in DoorDash by 11.3% in the 4th quarter. Sands Capital Management LLC now owns 9,507,105 shares of the company’s stock worth $464,137,000 after buying an additional 964,814 shares during the period. Finally, State Street Corp lifted its holdings in DoorDash by 7.4% in the 3rd quarter. State Street Corp now owns 4,679,916 shares of the company’s stock worth $231,422,000 after buying an additional 321,628 shares during the period. 75.09% of the stock is currently owned by hedge funds and other institutional investors.

DoorDash Trading Up 0.9 %

Shares of NYSE:DASH opened at $79.89 on Tuesday. The stock has a fifty day simple moving average of $79.28 and a two-hundred day simple moving average of $67.65. The stock has a market capitalization of $31.42 billion, a price-to-earnings ratio of -24.43 and a beta of 1.62. DoorDash, Inc. has a 12-month low of $41.37 and a 12-month high of $92.61.

DoorDash (NYSE:DASH – Get Free Report) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported ($0.44) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.06 billion. During the same quarter in the prior year, the firm earned ($0.72) EPS. The firm’s revenue for the quarter was up 32.6% compared to the same quarter last year. As a group, equities research analysts predict that DoorDash, Inc. will post -1.75 EPS for the current year.

Insider Transactions at DoorDash

In other news, Director Stanley Tang sold 93,000 shares of the business’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $79.66, for a total value of $7,408,380.00. Following the completion of the transaction, the director now owns 48,128 shares in the company, valued at $3,833,876.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Shona L. Brown sold 700 shares of DoorDash stock in a transaction on Friday, August 4th. The stock was sold at an average price of $85.95, for a total value of $60,165.00. Following the completion of the sale, the director now owns 75,720 shares of the company’s stock, valued at $6,508,134. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stanley Tang sold 93,000 shares of DoorDash stock in a transaction on Friday, August 11th. The stock was sold at an average price of $79.66, for a total value of $7,408,380.00. Following the completion of the sale, the director now directly owns 48,128 shares of the company’s stock, valued at approximately $3,833,876.48. The disclosure for this sale can be found here. Insiders sold 766,122 shares of company stock worth $58,721,215 over the last quarter. 9.59% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

DASH has been the subject of several research analyst reports. UBS Group increased their price objective on DoorDash from $70.00 to $100.00 in a report on Thursday, August 3rd. Wedbush increased their price objective on DoorDash from $75.00 to $85.00 and gave the stock a “neutral” rating in a report on Thursday, August 3rd. Bank of America increased their price objective on DoorDash from $82.00 to $95.00 and gave the stock a “buy” rating in a report on Tuesday, August 1st. Wells Fargo & Company increased their price objective on DoorDash from $70.00 to $88.00 and gave the stock an “equal weight” rating in a report on Thursday, August 3rd. Finally, Oppenheimer increased their price objective on DoorDash from $85.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, August 3rd. 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. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $87.73.

Get Our Latest Analysis on DoorDash

DoorDash Profile

(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.