National Pension Service raised its position in DoorDash, Inc. (NASDAQ:DASH – Free Report) by 8.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 756,003 shares of the company’s stock after acquiring an additional 61,892 shares during the quarter. National Pension Service’s holdings in DoorDash were worth $171,220,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of DASH. Physician Wealth Advisors Inc. lifted its holdings in DoorDash by 284.0% in the third quarter. Physician Wealth Advisors Inc. now owns 96 shares of the company’s stock valued at $26,000 after acquiring an additional 71 shares during the period. Eastern Bank lifted its holdings in DoorDash by 714.3% in the fourth quarter. Eastern Bank now owns 114 shares of the company’s stock valued at $26,000 after acquiring an additional 100 shares during the period. ST Germain D J Co. Inc. bought a new position in DoorDash in the fourth quarter valued at about $29,000. Sunbelt Securities Inc. lifted its holdings in DoorDash by 124.1% in the third quarter. Sunbelt Securities Inc. now owns 121 shares of the company’s stock valued at $33,000 after acquiring an additional 67 shares during the period. Finally, Morse Asset Management Inc bought a new position in DoorDash in the third quarter valued at about $36,000. Institutional investors own 90.64% of the company’s stock.
Analyst Upgrades and Downgrades
DASH has been the topic of a number of recent research reports. UBS Group increased their target price on DoorDash from $206.00 to $214.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Stifel Nicolaus lowered their target price on DoorDash from $215.00 to $185.00 and set a “hold” rating on the stock in a report on Monday, April 13th. Truist Financial lowered their target price on DoorDash from $340.00 to $330.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. Roth Mkm reissued a “neutral” rating and issued a $200.00 target price on shares of DoorDash in a report on Thursday, February 19th. Finally, Evercore set a $300.00 price objective on DoorDash in a research note on Thursday, February 19th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $259.58.
Key DoorDash News
Here are the key news stories impacting DoorDash this week:
- Positive Sentiment: DoorDash announced a partnership with Dollar Tree that will bring on-demand delivery to Dollar Tree’s full U.S. store footprint, opening access to more than 9,000 stores and over 10,000 products. Investors may view this as a meaningful expansion beyond restaurant delivery and a potential driver of order growth. DoorDash and Dollar Tree Partner to Bring Greater Value and Thrill of the Hunt Discovery On-Demand
- Positive Sentiment: Jim Cramer said he thinks DoorDash “is a buy,” adding another bullish media mention that can help sentiment around the stock. Jim Cramer Says He Thinks “DoorDash Is a Buy”
- Neutral Sentiment: Commentary about the food-delivery industry said the competitive battle is entering a more aggressive phase. That could support DoorDash’s scale advantages, but it also suggests continued pressure to defend market share and margins. The Food Delivery War Just Entered Its Final Phase
- Negative Sentiment: Several insider sales were disclosed, including trades by COO Prabir Adarkar, General Counsel Tia Sherringham, and insider Keith Yandell. The sales were made under pre-arranged 10b5-1 plans, but insider selling can still make some investors cautious. Prabir Adarkar insider trade
DoorDash Stock Performance
Shares of NASDAQ DASH opened at $159.29 on Friday. The company has a market cap of $69.41 billion, a P/E ratio of 75.85 and a beta of 1.87. DoorDash, Inc. has a 52-week low of $143.30 and a 52-week high of $285.50. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.43 and a current ratio of 1.43. The firm’s fifty day moving average is $162.21 and its two-hundred day moving average is $187.31.
DoorDash (NASDAQ:DASH – Get Free Report) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.36 by $0.06. The business had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $4.15 billion. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The business’s quarterly revenue was up 33.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.44 EPS. As a group, analysts anticipate that DoorDash, Inc. will post 2.45 EPS for the current fiscal year.
Insiders Place Their Bets
In other DoorDash news, Director Shona L. Brown sold 1,250 shares of the firm’s 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 transaction, the director owned 31,002 shares in the company, valued at $5,475,263.22. This trade represents a 3.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Prabir Adarkar sold 21,739 shares of the firm’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $155.25, for a total value of $3,374,979.75. Following the transaction, the chief operating officer owned 959,076 shares of the company’s stock, valued at $148,896,549. This represents a 2.22% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 69,808 shares of company stock worth $11,135,403. 5.83% of the stock is owned by corporate insiders.
About DoorDash
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.
Further Reading
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