Provident Investment Management Inc. purchased a new position in DoorDash, Inc. (NASDAQ:DASH – Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 92,990 shares of the company’s stock, valued at approximately $21,060,000. DoorDash makes up about 1.9% of Provident Investment Management Inc.’s holdings, making the stock its 22nd largest position.
A number of other institutional investors have also recently added to or reduced their stakes in DASH. Vanguard Group Inc. raised its holdings in shares of DoorDash by 3.7% during the 3rd quarter. Vanguard Group Inc. now owns 42,712,908 shares of the company’s stock worth $11,617,484,000 after acquiring an additional 1,522,823 shares during the period. Scge Management L.P. acquired a new position in shares of DoorDash in the 2nd quarter worth approximately $267,463,000. Invesco Ltd. boosted its position in shares of DoorDash by 18.2% during the third quarter. Invesco Ltd. now owns 6,355,628 shares of the company’s stock worth $1,728,667,000 after buying an additional 980,148 shares during the period. State Street Corp boosted its holdings in DoorDash by 6.3% during the 3rd quarter. State Street Corp now owns 15,296,624 shares of the company’s stock valued at $4,160,529,000 after acquiring an additional 909,125 shares during the period. Finally, Amundi boosted its stake in shares of DoorDash by 66.8% in the third quarter. Amundi now owns 1,700,112 shares of the company’s stock valued at $478,990,000 after purchasing an additional 681,058 shares during the period. Hedge funds and other institutional investors own 90.64% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on DASH shares. Benchmark boosted their target price on DoorDash from $280.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, February 19th. Needham & Company LLC reiterated a “buy” rating and set a $265.00 price target on shares of DoorDash in a research note on Thursday, May 7th. Sanford C. Bernstein decreased their price objective on DoorDash from $285.00 to $270.00 and set an “outperform” rating for the company in a report on Thursday, February 19th. Citigroup lowered their price target on DoorDash from $280.00 to $250.00 and set a “buy” rating on the stock in a report on Friday. Finally, Evercore set a $300.00 price objective on shares of DoorDash in a research note on Thursday, February 19th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $257.00.
DoorDash Trading Down 4.0%
NASDAQ:DASH opened at $157.33 on Tuesday. DoorDash, Inc. has a 52-week low of $143.30 and a 52-week high of $285.50. The company has a market capitalization of $68.35 billion, a PE ratio of 74.92 and a beta of 1.87. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.27. The stock has a fifty day simple moving average of $166.36 and a 200-day simple moving average of $195.55.
DoorDash (NASDAQ:DASH – Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.36 by $0.06. The business had revenue of $4.04 billion for the quarter, compared to analyst estimates of $4.15 billion. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The company’s quarterly revenue was up 33.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.44 earnings per share. On average, equities research analysts expect that DoorDash, Inc. will post 2.53 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other news, COO Prabir Adarkar sold 10,000 shares of DoorDash stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $188.34, for a total transaction of $1,883,400.00. Following the completion of the sale, the chief operating officer directly owned 843,678 shares in the company, valued at $158,898,314.52. The trade was a 1.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Shona L. Brown sold 1,250 shares of DoorDash stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $176.61, for a total transaction of $220,762.50. Following the completion of the sale, the director directly owned 31,002 shares of the company’s stock, valued at $5,475,263.22. The trade was a 3.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 42,683 shares of company stock valued at $6,908,813 in the last ninety days. Insiders own 5.83% of the company’s stock.
DoorDash Company Profile
DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.
In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.
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