DoorDash, Inc. $DASH Shares Purchased by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale increased its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 0.5% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 43,845 shares of the company’s stock after purchasing an additional 205 shares during the period. DekaBank Deutsche Girozentrale’s holdings in DoorDash were worth $10,695,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in DASH. Vanguard Group Inc. grew its stake in shares of DoorDash by 25.8% in the first quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company’s stock worth $7,200,642,000 after acquiring an additional 8,073,882 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in DoorDash by 15.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,907,970 shares of the company’s stock valued at $897,031,000 after purchasing an additional 641,601 shares during the period. Invesco Ltd. grew its stake in DoorDash by 41.9% during the 1st quarter. Invesco Ltd. now owns 4,799,851 shares of the company’s stock worth $877,269,000 after purchasing an additional 1,416,194 shares in the last quarter. Northern Trust Corp increased its holdings in DoorDash by 38.2% during the 1st quarter. Northern Trust Corp now owns 3,309,237 shares of the company’s stock worth $604,829,000 after purchasing an additional 915,512 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in DoorDash by 36.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,151,986 shares of the company’s stock worth $576,089,000 after purchasing an additional 842,637 shares during the period. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Tony Xu sold 34,166 shares of the company’s stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $268.24, for a total value of $9,164,687.84. Following the completion of the sale, the chief executive officer owned 520,450 shares in the company, valued at $139,605,508. This represents a 6.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stanley Tang sold 45,410 shares of the firm’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $268.23, for a total transaction of $12,180,324.30. The disclosure for this sale can be found here. In the last three months, insiders sold 932,156 shares of company stock valued at $233,565,302. 5.83% of the stock is owned by insiders.

DoorDash Stock Performance

Shares of DASH stock opened at $254.59 on Friday. The stock’s 50-day moving average is $259.55 and its two-hundred day moving average is $231.93. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.07 and a current ratio of 2.07. DoorDash, Inc. has a 1 year low of $151.26 and a 1 year high of $285.50. The firm has a market cap of $108.76 billion, a price-to-earnings ratio of 141.44 and a beta of 1.71.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.23. The firm had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.16 billion. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.The business’s revenue was up 24.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.38) EPS. Analysts predict that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DASH. Weiss Ratings reiterated a “hold (c)” rating on shares of DoorDash in a research note on Wednesday, October 8th. Needham & Company LLC set a $300.00 price objective on shares of DoorDash and gave the stock a “buy” rating in a research report on Thursday, August 7th. Wedbush reissued a “neutral” rating on shares of DoorDash in a report on Friday, August 8th. JPMorgan Chase & Co. upgraded DoorDash from a “neutral” rating to an “overweight” rating and raised their price target for the company from $175.00 to $325.00 in a research note on Tuesday, October 14th. Finally, Sanford C. Bernstein upped their price objective on DoorDash from $210.00 to $265.00 and gave the stock an “outperform” rating in a research report on Monday, July 21st. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $285.68.

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.