KBC Group NV Has $9.51 Million Holdings in DoorDash, Inc. $DASH

KBC Group NV lowered its position in DoorDash, Inc. (NASDAQ:DASH) by 78.3% during the first quarter, HoldingsChannel reports. The institutional investor owned 63,333 shares of the company’s stock after selling 229,131 shares during the period. KBC Group NV’s holdings in DoorDash were worth $9,510,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of DoorDash during the 4th quarter valued at about $1,093,650,000. Wellington Management Group LLP increased its position in DoorDash by 593.1% during the fourth quarter. Wellington Management Group LLP now owns 5,481,693 shares of the company’s stock worth $1,241,494,000 after acquiring an additional 4,690,744 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of DoorDash by 32.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,958,114 shares of the company’s stock worth $3,161,234,000 after purchasing an additional 3,447,754 shares during the period. Coatue Management LLC increased its stake in DoorDash by 77.8% during the fourth quarter. Coatue Management LLC now owns 4,365,365 shares of the company’s stock valued at $988,668,000 after acquiring an additional 1,910,488 shares during the period. Finally, Alyeska Investment Group L.P. bought a new stake in shares of DoorDash during the fourth quarter valued at approximately $372,128,000. 90.64% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at DoorDash

In other DoorDash news, Director Andy Fang sold 5,000 shares of the business’s stock in a transaction dated 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 legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Prabir Adarkar sold 21,739 shares of DoorDash stock in a transaction dated 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 completion of the sale, the chief operating officer directly owned 959,076 shares in the company, valued at approximately $148,896,549. This represents a 2.22% 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. In the last ninety days, insiders sold 74,927 shares of company stock worth $13,241,532. 5.83% of the stock is owned by insiders.

DoorDash Stock Down 5.5%

Shares of DASH stock opened at $177.73 on Thursday. The firm has a fifty day moving average of $171.62 and a 200-day moving average of $176.41. The company has a market capitalization of $77.44 billion, a price-to-earnings ratio of 84.63 and a beta of 1.78. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.27. DoorDash, Inc. has a 12-month low of $143.30 and a 12-month high of $285.50.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share (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 firm had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter last year, the business posted $0.44 EPS. The company’s revenue for the quarter was up 33.1% on a year-over-year basis. As a group, equities research analysts predict that DoorDash, Inc. will post 2.39 earnings per share for the current fiscal year.

Analysts Set New Price Targets

DASH has been the topic of a number of analyst reports. Stifel Nicolaus lowered their target price 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. Zacks Research lowered DoorDash from a “hold” rating to a “strong sell” rating in a research note on Friday, July 17th. The Goldman Sachs Group set a $280.00 price target on shares of DoorDash in a report on Thursday, May 7th. Wedbush began coverage on DoorDash in a research report on Thursday, July 16th. They issued a “neutral” rating and a $205.00 price objective for the company. Finally, Susquehanna lowered their target price on shares of DoorDash from $250.00 to $225.00 and set a “positive” rating for the company in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $252.89.

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.