a16z Perennial Management L.P. Decreases Stake in DoorDash, Inc. $DASH

a16z Perennial Management L.P. lowered its holdings in DoorDash, Inc. (NASDAQ:DASH) by 78.3% during the 1st quarter, Holdings Channel reports. The firm owned 2,990 shares of the company’s stock after selling 10,806 shares during the period. a16z Perennial Management L.P.’s holdings in DoorDash were worth $449,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in DASH. Eastern Bank increased its stake in shares of DoorDash by 714.3% during the 4th quarter. Eastern Bank now owns 114 shares of the company’s stock worth $26,000 after purchasing an additional 100 shares during the last quarter. MV Capital Management Inc. purchased a new stake in DoorDash during the fourth quarter valued at about $26,000. Swiss RE Ltd. purchased a new stake in DoorDash during the fourth quarter valued at about $28,000. ST Germain D J Co. Inc. bought a new position in DoorDash during the fourth quarter worth about $29,000. Finally, Kemnay Advisory Services Inc. bought a new position in DoorDash during the fourth quarter worth about $32,000. 90.64% of the stock is currently owned by institutional investors.

Insider Transactions at DoorDash

In related news, General Counsel Tia Sherringham sold 2,743 shares of DoorDash stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $160.79, for a total value of $441,046.97. Following the sale, the general counsel owned 128,216 shares in the company, valued at $20,615,850.64. The trade was a 2.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ravi Inukonda sold 19,095 shares of the company’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $188.04, for a total transaction of $3,590,623.80. Following the completion of the transaction, the chief financial officer owned 252,443 shares of the company’s stock, valued at $47,469,381.72. This trade represents a 7.03% decrease in their ownership of the stock. 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 three months, insiders have sold 74,927 shares of company stock valued at $13,241,532. Company insiders own 5.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on DASH. Weiss Ratings raised shares of DoorDash from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. TD Cowen reissued a “buy” rating on shares of DoorDash in a report on Wednesday, July 15th. The Goldman Sachs Group set a $280.00 target price on DoorDash in a research note on Thursday, May 7th. Citigroup reaffirmed a “market outperform” rating on shares of DoorDash in a report on Monday, June 22nd. Finally, Piper Sandler reduced their price target on shares of DoorDash from $220.00 to $205.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $252.89.

DoorDash Price Performance

Shares of NASDAQ:DASH opened at $188.04 on Wednesday. The company’s fifty day moving average is $171.05 and its 200 day moving average is $176.75. 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 52 week low of $143.30 and a 52 week high of $285.50. The stock has a market cap of $81.93 billion, a PE ratio of 89.54 and a beta of 1.78.

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

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.