Pittenger & Anderson Inc. Reduces Position in DoorDash, Inc. $DASH

Pittenger & Anderson Inc. trimmed its position in DoorDash, Inc. (NASDAQ:DASH) by 89.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 525 shares of the company’s stock after selling 4,520 shares during the quarter. Pittenger & Anderson Inc.’s holdings in DoorDash were worth $79,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC raised its stake in DoorDash by 24.0% in the fourth quarter. Brighton Jones LLC now owns 9,336 shares of the company’s stock valued at $1,566,000 after buying an additional 1,807 shares in the last quarter. Integrated Wealth Concepts LLC boosted its position in shares of DoorDash by 21.5% during the 1st quarter. Integrated Wealth Concepts LLC now owns 1,715 shares of the company’s stock worth $314,000 after acquiring an additional 303 shares in the last quarter. Empowered Funds LLC boosted its position in shares of DoorDash by 3.6% during the 1st quarter. Empowered Funds LLC now owns 8,130 shares of the company’s stock worth $1,486,000 after acquiring an additional 285 shares in the last quarter. Sivia Capital Partners LLC increased its holdings in shares of DoorDash by 92.9% in the 2nd quarter. Sivia Capital Partners LLC now owns 4,255 shares of the company’s stock valued at $1,049,000 after acquiring an additional 2,049 shares during the last quarter. Finally, Baird Financial Group Inc. purchased a new position in shares of DoorDash in the 2nd quarter valued at about $222,000. 90.64% of the stock is owned by hedge funds and other institutional investors.

DoorDash Price Performance

DASH opened at $191.82 on Monday. DoorDash, Inc. has a 52 week low of $143.30 and a 52 week high of $285.50. The business has a 50 day moving average price of $167.76 and a two-hundred day moving average price of $178.88. 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 cap of $83.58 billion, a PE ratio of 91.34 and a beta of 1.78.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.06. The company had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $4.15 billion. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The company’s revenue was up 33.1% on a year-over-year basis. During the same period last year, the business posted $0.44 EPS. As a group, research analysts anticipate that DoorDash, Inc. will post 2.41 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on DASH shares. Piper Sandler cut their target price on DoorDash from $220.00 to $205.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. Stifel Nicolaus dropped their price target on shares of DoorDash from $215.00 to $185.00 and set a “hold” rating on the stock in a research note on Monday, April 13th. Truist Financial dropped their price target on shares of DoorDash from $340.00 to $330.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Wells Fargo & Company cut their price objective on shares of DoorDash from $200.00 to $199.00 and set an “equal weight” rating on the stock in a report on Monday, July 6th. Finally, Susquehanna reduced their price objective on shares of DoorDash from $250.00 to $225.00 and set a “positive” rating for the company in a research report on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, DoorDash currently has a consensus rating of “Moderate Buy” and a consensus target price of $256.08.

Insider Activity

In related news, COO Prabir Adarkar sold 21,739 shares of DoorDash stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $155.25, for a total value of $3,374,979.75. Following the transaction, the chief operating officer directly owned 959,076 shares in the company, valued at $148,896,549. This trade represents a 2.22% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stanley Tang sold 23,125 shares of the business’s stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $191.19, for a total transaction of $4,421,268.75. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 84,927 shares of company stock valued at $15,124,932. 5.83% of the stock is currently owned by company insiders.

About DoorDash

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.