Lazard Asset Management LLC Increases Holdings in DoorDash, Inc. (NASDAQ:DASH)

Lazard Asset Management LLC lifted its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 126.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,395 shares of the company’s stock after buying an additional 13,599 shares during the period. Lazard Asset Management LLC’s holdings in DoorDash were worth $4,091,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. LMR Partners LLP purchased a new position in shares of DoorDash during the 4th quarter valued at about $8,388,000. Investment Management Corp of Ontario raised its holdings in shares of DoorDash by 93.5% during the 4th quarter. Investment Management Corp of Ontario now owns 25,638 shares of the company’s stock valued at $4,301,000 after buying an additional 12,385 shares in the last quarter. Jefferies Financial Group Inc. purchased a new position in shares of DoorDash during the 4th quarter valued at about $813,000. Ground Swell Capital LLC purchased a new position in shares of DoorDash during the 4th quarter valued at about $406,000. Finally, Focus Partners Wealth purchased a new position in shares of DoorDash during the 4th quarter valued at about $490,000. 90.64% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Ravi Inukonda sold 1,425 shares of the business’s stock in a transaction on Friday, April 25th. The stock was sold at an average price of $187.22, for a total value of $266,788.50. Following the completion of the transaction, the chief financial officer now owns 337,430 shares in the company, valued at $63,173,644.60. The trade was a 0.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Stanley Tang sold 45,410 shares of the business’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $181.21, for a total value of $8,228,746.10. Following the completion of the transaction, the director now owns 18,285 shares of the company’s stock, valued at $3,313,424.85. This represents a 71.29% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 158,573 shares of company stock valued at $30,407,073. 5.83% of the stock is currently owned by corporate insiders.

DoorDash Trading Up 0.1%

DoorDash stock opened at $197.10 on Friday. The business’s fifty day simple moving average is $185.67 and its two-hundred day simple moving average is $181.82. DoorDash, Inc. has a 12 month low of $99.32 and a 12 month high of $215.25. The company has a market capitalization of $82.80 billion, a price-to-earnings ratio of 730.00 and a beta of 1.68.

DoorDash (NASDAQ:DASH) last released its earnings results on Tuesday, May 6th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.39 by $0.05. DoorDash had a return on equity of 1.67% and a net margin of 1.15%. The business had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.10 billion. During the same period in the previous year, the company posted ($0.06) earnings per share. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. On average, equities research analysts predict that DoorDash, Inc. will post 2.22 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on DASH. DA Davidson raised their price objective on DoorDash from $150.00 to $190.00 and gave the company a “neutral” rating in a report on Tuesday, May 6th. Mizuho lifted their price target on DoorDash from $200.00 to $222.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 12th. FBN Securities initiated coverage on DoorDash in a research note on Friday, March 28th. They issued an “outperform” rating and a $230.00 price target on the stock. Loop Capital lifted their price target on DoorDash from $200.00 to $235.00 and gave the stock a “buy” rating in a research note on Monday, February 24th. Finally, UBS Group decreased their price target on DoorDash from $197.00 to $196.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 7th. Ten analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat.com, DoorDash currently has an average rating of “Moderate Buy” and a consensus target price of $209.97.

DoorDash 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.