Sei Investments Co. Sells 360,013 Shares of DoorDash, Inc. $DASH

Sei Investments Co. lowered its stake in DoorDash, Inc. (NASDAQ:DASH) by 35.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 646,445 shares of the company’s stock after selling 360,013 shares during the period. Sei Investments Co.’s holdings in DoorDash were worth $97,061,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of DoorDash by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 43,426,479 shares of the company’s stock valued at $9,835,229,000 after acquiring an additional 713,571 shares in the last quarter. SC US Ttgp LTD. increased its holdings in DoorDash by 1.6% in the 4th quarter. SC US Ttgp LTD. now owns 31,686,624 shares of the company’s stock worth $7,176,387,000 after purchasing an additional 506,358 shares in the last quarter. Morgan Stanley increased its holdings in DoorDash by 2.3% in the 4th quarter. Morgan Stanley now owns 17,536,824 shares of the company’s stock worth $3,971,741,000 after purchasing an additional 391,596 shares in the last quarter. State Street Corp raised its position in DoorDash by 3.0% in the fourth quarter. State Street Corp now owns 15,761,072 shares of the company’s stock valued at $3,569,568,000 after purchasing an additional 464,448 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in DoorDash by 32.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,958,114 shares of the company’s stock valued at $3,161,234,000 after purchasing an additional 3,447,754 shares during the last quarter. Institutional investors own 90.64% of the company’s stock.

Insider Activity at DoorDash

In other news, Director Andy Fang sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $180.00, for a total transaction of $900,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ravi Inukonda sold 19,095 shares of DoorDash stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $188.04, for a total transaction of $3,590,623.80. Following the completion of the sale, the chief financial officer owned 252,443 shares of the company’s stock, valued at $47,469,381.72. This represents a 7.03% 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. Over the last quarter, insiders have sold 74,927 shares of company stock worth $13,241,532. Corporate insiders own 5.83% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on DASH shares. TD Cowen restated a “buy” rating on shares of DoorDash in a report on Wednesday, July 15th. The Goldman Sachs Group set a $280.00 price objective on shares of DoorDash in a report on Thursday, May 7th. Weiss Ratings upgraded shares of DoorDash from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 13th. Moffett Nathanson set a $276.00 target price on shares of DoorDash in a report on Wednesday, April 15th. Finally, Rothschild & Co Redburn set a $350.00 target price on shares of DoorDash in a report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $252.89.

DoorDash Stock Down 4.5%

Shares of NASDAQ:DASH opened at $169.77 on Friday. The company has a market capitalization of $73.97 billion, a price-to-earnings ratio of 80.84 and a beta of 1.78. 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 business’s 50-day moving average is $171.94 and its 200-day moving average is $176.06. DoorDash, Inc. has a 1 year low of $143.30 and a 1 year high of $285.50.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.36 by $0.06. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The company had revenue of $4.04 billion for the quarter, compared to analyst estimates of $4.15 billion. During the same quarter in the prior year, the company earned $0.44 EPS. The firm’s revenue for the quarter was up 33.1% compared to the same quarter last year. Equities research analysts predict that DoorDash, Inc. will post 2.39 earnings per share for the current year.

DoorDash 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.