Catalyst Private Wealth LLC Has $11.84 Million Stock Holdings in DoorDash, Inc. (NASDAQ:DASH)

Catalyst Private Wealth LLC cut its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 2.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 86,003 shares of the company’s stock after selling 1,801 shares during the period. DoorDash accounts for 6.2% of Catalyst Private Wealth LLC’s portfolio, making the stock its 4th biggest position. Catalyst Private Wealth LLC’s holdings in DoorDash were worth $11,844,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Wells Fargo & Company MN grew its stake in DoorDash by 102.5% in the fourth quarter. Wells Fargo & Company MN now owns 199,152 shares of the company’s stock worth $19,694,000 after purchasing an additional 100,787 shares during the period. Assenagon Asset Management S.A. grew its stake in DoorDash by 1,725.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,113,175 shares of the company’s stock worth $110,082,000 after purchasing an additional 1,052,198 shares during the period. Sequoia Financial Advisors LLC purchased a new stake in DoorDash in the fourth quarter worth $769,000. Bank of Nova Scotia grew its stake in DoorDash by 298.3% in the fourth quarter. Bank of Nova Scotia now owns 186,201 shares of the company’s stock worth $18,413,000 after purchasing an additional 139,450 shares during the period. Finally, Franklin Resources Inc. grew its stake in DoorDash by 294.5% in the fourth quarter. Franklin Resources Inc. now owns 1,607,776 shares of the company’s stock worth $158,993,000 after purchasing an additional 1,200,181 shares during the period. 90.64% of the stock is owned by hedge funds and other institutional investors.

DoorDash Price Performance

Shares of NASDAQ:DASH traded up $3.67 during trading on Friday, hitting $113.88. 7,914,587 shares of the company’s stock were exchanged, compared to its average volume of 3,100,773. DoorDash, Inc. has a 52-week low of $69.90 and a 52-week high of $143.34. The business’s 50-day simple moving average is $117.64 and its 200 day simple moving average is $116.85. The company has a market cap of $46.57 billion, a price-to-earnings ratio of -105.44, a PEG ratio of 27.87 and a beta of 1.69.

DoorDash (NASDAQ:DASH) last released its earnings results on Wednesday, May 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.01. DoorDash had a negative return on equity of 6.28% and a negative net margin of 4.61%. The firm had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.45 billion. During the same quarter last year, the business posted ($0.41) earnings per share. The firm’s revenue was up 23.5% on a year-over-year basis. On average, sell-side analysts anticipate that DoorDash, Inc. will post 0.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Needham & Company LLC reissued a “buy” rating and issued a $137.00 target price on shares of DoorDash in a research note on Thursday, May 2nd. Truist Financial cut their target price on DoorDash from $155.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. JMP Securities cut their target price on DoorDash from $160.00 to $140.00 and set a “market outperform” rating on the stock in a research note on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft increased their target price on DoorDash from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, Roth Mkm cut their target price on DoorDash from $121.00 to $118.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, DoorDash has an average rating of “Moderate Buy” and an average price target of $134.79.

Insider Buying and Selling at DoorDash

In other DoorDash news, CEO Tony Xu sold 131,590 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $111.61, for a total transaction of $14,686,759.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Tony Xu sold 131,590 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $111.61, for a total value of $14,686,759.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Ravi Inukonda sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $138.98, for a total value of $694,900.00. Following the completion of the sale, the chief financial officer now directly owns 391,425 shares of the company’s stock, valued at $54,400,246.50. The disclosure for this sale can be found here. Insiders sold 548,613 shares of company stock worth $68,171,311 in the last quarter. 7.92% of the stock is owned by corporate insiders.

About DoorDash

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.