DoorDash, Inc. $DASH Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank
by Sarita Garza · The Markets DailyZurcher Kantonalbank Zurich Cantonalbank cut its stake in DoorDash, Inc. (NASDAQ:DASH – Free Report) by 32.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 104,002 shares of the company’s stock after selling 50,002 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in DoorDash were worth $23,554,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of DoorDash by 3.7% in the third quarter. Vanguard Group Inc. now owns 42,712,908 shares of the company’s stock valued at $11,617,484,000 after buying an additional 1,522,823 shares in the last quarter. State Street Corp increased its position in shares of DoorDash by 6.3% in the third quarter. State Street Corp now owns 15,296,624 shares of the company’s stock valued at $4,160,529,000 after buying an additional 909,125 shares in the last quarter. Capital World Investors increased its position in shares of DoorDash by 0.9% in the third quarter. Capital World Investors now owns 10,865,927 shares of the company’s stock valued at $2,955,424,000 after buying an additional 95,278 shares in the last quarter. Invesco Ltd. increased its position in shares of DoorDash by 18.2% in the third quarter. Invesco Ltd. now owns 6,355,628 shares of the company’s stock valued at $1,728,667,000 after buying an additional 980,148 shares in the last quarter. Finally, Northern Trust Corp increased its position in shares of DoorDash by 3.0% in the third quarter. Northern Trust Corp now owns 3,348,168 shares of the company’s stock valued at $910,668,000 after buying an additional 96,012 shares in the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.
DoorDash Stock Down 3.9%
Shares of DASH opened at $182.45 on Wednesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.41 and a current ratio of 1.41. DoorDash, Inc. has a one year low of $143.30 and a one year high of $285.50. The stock has a market capitalization of $79.26 billion, a price-to-earnings ratio of 86.06 and a beta of 1.93. The stock has a 50 day moving average price of $165.99 and a 200 day moving average price of $204.06.
DoorDash (NASDAQ:DASH – Get Free Report) last issued its quarterly earnings results on Wednesday, February 18th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.10). DoorDash had a return on equity of 10.15% and a net margin of 6.82%.The firm had revenue of $3.96 billion for the quarter, compared to analysts’ expectations of $3.98 billion. During the same quarter in the previous year, the firm posted $0.33 earnings per share. The firm’s revenue for the quarter was up 37.7% compared to the same quarter last year. Equities research analysts forecast that DoorDash, Inc. will post 2.51 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of analysts have recently commented on the company. KeyCorp boosted their price objective on DoorDash from $275.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, February 19th. Sanford C. Bernstein cut their price objective on DoorDash from $285.00 to $270.00 and set an “outperform” rating for the company in a research report on Thursday, February 19th. DA Davidson cut their price objective on DoorDash from $260.00 to $224.00 and set a “neutral” rating for the company in a research report on Thursday, February 19th. Oppenheimer cut their price objective on DoorDash from $280.00 to $235.00 and set an “outperform” rating for the company in a research report on Thursday, February 19th. Finally, Wells Fargo & Company cut their price objective on DoorDash from $221.00 to $198.00 and set an “equal weight” rating for the company in a research report on Monday, March 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $261.32.
Read Our Latest Analysis on DASH
Insider Buying and Selling
In related news, Director Stanley Tang sold 21,433 shares of the business’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $150.00, for a total transaction of $3,214,950.00. Following the completion of the sale, the director directly owned 19,279 shares in the company, valued at approximately $2,891,850. The trade was a 52.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Prabir Adarkar sold 10,000 shares of the company’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $158.97, for a total value of $1,589,700.00. Following the completion of the sale, the chief operating officer owned 843,678 shares of the company’s stock, valued at approximately $134,119,491.66. The trade was a 1.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 79,406 shares of company stock worth $14,756,224. 5.83% of the stock is owned by corporate insiders.
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.