Atomi Financial Group Inc. Cuts Stock Position in DoorDash, Inc. (NASDAQ:DASH)

Atomi Financial Group Inc. cut its holdings in DoorDash, Inc. (NASDAQ:DASH) by 54.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,778 shares of the company’s stock after selling 4,455 shares during the quarter. Atomi Financial Group Inc.’s holdings in DoorDash were worth $634,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. MassMutual Private Wealth & Trust FSB increased its position in shares of DoorDash by 34.0% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 272 shares of the company’s stock valued at $46,000 after buying an additional 69 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of DoorDash by 0.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 11,744 shares of the company’s stock worth $1,970,000 after purchasing an additional 84 shares in the last quarter. Pallas Capital Advisors LLC increased its position in shares of DoorDash by 3.7% during the fourth quarter. Pallas Capital Advisors LLC now owns 2,465 shares of the company’s stock worth $414,000 after purchasing an additional 88 shares in the last quarter. Central Pacific Bank Trust Division increased its position in shares of DoorDash by 1.3% during the fourth quarter. Central Pacific Bank Trust Division now owns 6,966 shares of the company’s stock worth $1,169,000 after purchasing an additional 91 shares in the last quarter. Finally, Ballentine Partners LLC increased its position in shares of DoorDash by 3.9% during the fourth quarter. Ballentine Partners LLC now owns 2,962 shares of the company’s stock worth $497,000 after purchasing an additional 112 shares in the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Andy Fang sold 50,000 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $172.67, for a total value of $8,633,500.00. Following the transaction, the director now owns 18,089 shares in the company, valued at approximately $3,123,427.63. This represents a 73.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Tony Xu sold 108,332 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $170.25, for a total value of $18,443,523.00. Following the completion of the transaction, the chief executive officer now owns 1,500 shares in the company, valued at approximately $255,375. The trade was a 98.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,019,333 shares of company stock worth $177,556,541 in the last quarter. 7.92% of the stock is owned by company insiders.

Analysts Set New Price Targets

DASH has been the subject of several research reports. Jefferies Financial Group boosted their price target on DoorDash from $155.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Wolfe Research boosted their price target on DoorDash from $210.00 to $220.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Barclays boosted their price target on DoorDash from $120.00 to $163.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Benchmark boosted their price target on DoorDash from $152.00 to $173.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Finally, Susquehanna boosted their price objective on DoorDash from $140.00 to $180.00 and gave the stock a “positive” rating in a research note on Friday, November 1st. Nine research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $176.97.

DoorDash Trading Up 3.1 %

DASH opened at $183.13 on Friday. The stock’s 50-day moving average price is $173.85 and its 200 day moving average price is $147.67. DoorDash, Inc. has a 12-month low of $99.32 and a 12-month high of $183.48. The firm has a market cap of $76.07 billion, a price-to-earnings ratio of -406.96, a PEG ratio of 1.88 and a beta of 1.71.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.17. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The company had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the prior year, the business earned ($0.19) EPS. DoorDash’s revenue was up 25.0% on a year-over-year basis. On average, research analysts forecast that DoorDash, Inc. will post 0.27 earnings per share 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.