DoorDash, Inc. $DASH Stake Trimmed by Catalyst Private Wealth LLC

Catalyst Private Wealth LLC cut its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 6.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 33,885 shares of the company’s stock after selling 2,373 shares during the period. DoorDash accounts for 4.0% of Catalyst Private Wealth LLC’s investment portfolio, making the stock its 6th largest holding. Catalyst Private Wealth LLC’s holdings in DoorDash were worth $9,216,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Assenagon Asset Management S.A. boosted its holdings in DoorDash by 1,284.7% in the third quarter. Assenagon Asset Management S.A. now owns 346,331 shares of the company’s stock valued at $94,199,000 after purchasing an additional 321,320 shares during the period. City Center Advisors LLC raised its position in DoorDash by 10.2% in the 3rd quarter. City Center Advisors LLC now owns 1,965 shares of the company’s stock valued at $534,000 after purchasing an additional 182 shares in the last quarter. Nilsine Partners LLC raised its position in DoorDash by 12.3% in the 3rd quarter. Nilsine Partners LLC now owns 1,297 shares of the company’s stock valued at $353,000 after purchasing an additional 142 shares in the last quarter. Jackson Wealth Management LLC purchased a new position in shares of DoorDash in the 3rd quarter valued at about $553,000. Finally, Aaron Wealth Advisors LLC grew its position in shares of DoorDash by 66.3% during the third quarter. Aaron Wealth Advisors LLC now owns 5,320 shares of the company’s stock worth $1,447,000 after buying an additional 2,120 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Cantor Fitzgerald reduced their target price on shares of DoorDash from $330.00 to $270.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Zacks Research downgraded shares of DoorDash from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Argus decreased their price objective on shares of DoorDash from $275.00 to $260.00 and set a “buy” rating for the company in a research report on Friday. Bank of America lowered their target price on shares of DoorDash from $325.00 to $305.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. Finally, Wedbush upgraded DoorDash from a “neutral” rating to an “outperform” rating and raised their price target for the company from $160.00 to $260.00 in a research note on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, DoorDash currently has an average rating of “Moderate Buy” and an average price target of $275.46.

DoorDash Price Performance

Shares of NASDAQ:DASH opened at $227.94 on Wednesday. DoorDash, Inc. has a 12 month low of $155.40 and a 12 month high of $285.50. The firm has a market capitalization of $98.24 billion, a P/E ratio of 115.71 and a beta of 1.72. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.04 and a quick ratio of 2.04. The company’s fifty day moving average price is $230.70 and its 200 day moving average price is $240.40.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Wednesday, November 5th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.13). DoorDash had a net margin of 6.83% and a return on equity of 9.97%. The company had revenue of $3.45 billion during the quarter, compared to analyst estimates of $3.35 billion. During the same quarter in the prior year, the company earned $0.38 EPS. The business’s revenue was up 27.3% on a year-over-year basis. As a group, sell-side analysts predict that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Insider Transactions at DoorDash

In other DoorDash news, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $205.07, for a total transaction of $9,312,228.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Alfred Lin acquired 125,000 shares of DoorDash stock in a transaction on Wednesday, November 26th. The stock was purchased at an average price of $199.01 per share, with a total value of $24,876,250.00. Following the purchase, the director owned 514,047 shares of the company’s stock, valued at $102,300,493.47. The trade was a 32.13% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders sold 644,980 shares of company stock worth $143,500,178. Insiders own 5.83% of the company’s stock.

DoorDash Company Profile

DoorDash, Inc, together with its subsidiaries, operates a commerce platform that connects merchants, consumers, and independent contractors in the United States and internationally. The company operates DoorDash Marketplace and Wolt Marketplace, which provide various services, such as customer acquisition, demand generation, order fulfillment, merchandising, payment processing, and customer support.