ProShare Advisors LLC boosted its stake in shares of DoorDash, Inc. (NASDAQ:DASH – Free Report) by 6.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 468,236 shares of the company’s stock after purchasing an additional 26,497 shares during the quarter. ProShare Advisors LLC’s holdings in DoorDash were worth $85,945,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its position in shares of DoorDash by 40.2% during the 1st quarter. Janus Henderson Group PLC now owns 7,762,553 shares of the company’s stock valued at $1,159,377,000 after acquiring an additional 2,225,954 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in shares of DoorDash by 2,304.0% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 3,452,110 shares of the company’s stock worth $633,635,000 after acquiring an additional 3,308,512 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of DoorDash by 372.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 3,137,719 shares of the company’s stock worth $575,928,000 after acquiring an additional 2,472,980 shares during the period. Temasek Holdings Private Ltd increased its stake in DoorDash by 49.4% in the 1st quarter. Temasek Holdings Private Ltd now owns 3,461,501 shares of the company’s stock valued at $519,744,000 after purchasing an additional 1,145,078 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in DoorDash by 18.4% in the 1st quarter. Bank of America Corp DE now owns 3,449,266 shares of the company’s stock valued at $517,907,000 after purchasing an additional 536,080 shares in the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.
DoorDash Price Performance
DASH stock opened at $178.99 on Monday. DoorDash, Inc. has a 1 year low of $143.30 and a 1 year high of $260.74. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.37 and a current ratio of 1.37. The stock’s 50 day moving average price is $197.84 and its 200 day moving average price is $183.11. The firm has a market cap of $77.56 billion, a P/E ratio of 73.96 and a beta of 1.98.
DoorDash (NASDAQ:DASH – Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.25. DoorDash had a return on equity of 10.58% and a net margin of 6.23%. The company had revenue of $4.62 billion during the quarter, compared to the consensus estimate of $4.56 billion. During the same quarter last year, the business posted $0.55 earnings per share. DoorDash’s revenue was up 34.0% compared to the same quarter last year. On average, sell-side analysts expect that DoorDash, Inc. will post 2.64 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on the company. Guggenheim reaffirmed a “buy” rating and set a $255.00 price objective on shares of DoorDash in a report on Wednesday, October 14th. Weiss Ratings reissued a “hold (c)” rating on shares of DoorDash in a report on Friday, August 7th. Rosenblatt Securities began coverage on DoorDash in a research report on Tuesday, September 1st. They issued a “buy” rating and a $270.00 price target for the company. UBS Group reaffirmed a “neutral” rating and set a $213.00 price target on shares of DoorDash in a research note on Friday. Finally, Barclays decreased their price objective on shares of DoorDash from $230.00 to $205.00 and set an “equal weight” rating on the stock in a research report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $249.88.
View Our Latest Report on DoorDash
More DoorDash News
Here are the key news stories impacting DoorDash this week:
- Positive Sentiment: Wedbush upgraded DoorDash (DASH), while Cantor Fitzgerald reiterated its overweight rating, signaling continued confidence in the company’s growth outlook and market position. DoorDash upgraded at Wedbush DoorDash overweight rating reiterated at Cantor Fitzgerald
- Positive Sentiment: One analyst raised its DoorDash (DASH) price target to $340, suggesting substantial potential upside based on expectations for long-term growth and the company’s expanding delivery ecosystem. DoorDash price target raised to $340
- Positive Sentiment: DoorDash’s planned $17 billion acquisition of Instacart could broaden its customer base, services and subscription offering, potentially creating cost and cross-selling synergies. DoorDash acquires Instacart
Insider Buying and Selling at DoorDash
In related news, Director Stanley Tang sold 23,125 shares of the business’s stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $186.19, for a total value of $4,305,643.75. Following the completion of the transaction, the director owned 10,361 shares of the company’s stock, valued at approximately $1,929,114.59. The trade was a 69.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Keith Yandell sold 2,183 shares of the company’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $183.69, for a total transaction of $400,995.27. Following the completion of the transaction, the chief operating officer owned 118,505 shares in the company, valued at approximately $21,768,183.45. This trade represents a 1.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 326,305 shares of company stock valued at $72,280,083. 44.90% of the stock is owned by company insiders.
DoorDash Profile
DoorDash, Inc (NASDAQ:DASH) operates a local commerce platform that connects consumers with restaurants, grocery stores, convenience retailers and other merchants. Through its website and mobile applications, customers can browse products, place orders for delivery or pickup, and access related services.
The company provides merchants with ordering, delivery, logistics, marketing and payment tools. Its offerings include the DoorDash Marketplace, subscription programs such as DashPass, and delivery infrastructure that merchants can use through services including DoorDash Drive.
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