Connors Investor Services Inc. Has $14.58 Million Stake in DoorDash, Inc. (NASDAQ:DASH)

Connors Investor Services Inc. reduced its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 14.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 134,000 shares of the company’s stock after selling 23,038 shares during the quarter. DoorDash comprises approximately 1.5% of Connors Investor Services Inc.’s portfolio, making the stock its 24th biggest holding. Connors Investor Services Inc.’s holdings in DoorDash were worth $14,577,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Spire Wealth Management acquired a new stake in shares of DoorDash in the first quarter valued at approximately $25,000. Meeder Asset Management Inc. increased its stake in DoorDash by 82.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after acquiring an additional 132 shares during the period. Headlands Technologies LLC acquired a new position in DoorDash in the 2nd quarter valued at $32,000. Versant Capital Management Inc lifted its position in shares of DoorDash by 340.8% during the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock valued at $36,000 after acquiring an additional 259 shares during the period. Finally, ORG Partners LLC lifted its position in shares of DoorDash by 2,108.3% during the 1st quarter. ORG Partners LLC now owns 265 shares of the company’s stock valued at $37,000 after acquiring an additional 253 shares during the period. 90.64% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Tony Xu sold 54,166 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $107.75, for a total value of $5,836,386.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $105.57, for a total transaction of $5,278,500.00. Following the completion of the transaction, the director now directly owns 19,982 shares in the company, valued at $2,109,499.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Tony Xu sold 54,166 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $107.75, for a total value of $5,836,386.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 304,769 shares of company stock worth $34,760,113. 7.92% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Wedbush reaffirmed a “neutral” rating and set a $115.00 price objective on shares of DoorDash in a research report on Friday, August 2nd. UBS Group upped their price target on shares of DoorDash from $125.00 to $143.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Truist Financial raised their price objective on DoorDash from $145.00 to $150.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Susquehanna upped their target price on DoorDash from $135.00 to $140.00 and gave the stock a “positive” rating in a report on Monday, August 5th. Finally, Barclays increased their target price on DoorDash from $113.00 to $120.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Eleven investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $142.57.

DoorDash Price Performance

Shares of NASDAQ:DASH opened at $130.87 on Tuesday. DoorDash, Inc. has a one year low of $69.90 and a one year high of $143.34. The firm has a market capitalization of $53.51 billion, a price-to-earnings ratio of -121.18, a PEG ratio of 275.59 and a beta of 1.69. The company’s fifty day moving average price is $119.09 and its 200-day moving average price is $121.32.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.29). DoorDash had a negative net margin of 4.24% and a negative return on equity of 5.91%. The business had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.54 billion. During the same quarter in the prior year, the firm earned ($0.44) EPS. The firm’s revenue for the quarter was up 23.3% on a year-over-year basis. As a group, equities research analysts expect that DoorDash, Inc. will post 0.01 EPS for the current year.

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.