Allspring Global Investments Holdings LLC decreased its holdings in DoorDash, Inc. (NYSE:DASH – Free Report) by 3.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 74,182 shares of the company’s stock after selling 2,617 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in DoorDash were worth $5,669,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently modified their holdings of DASH. Vontobel Holding Ltd. boosted its stake in DoorDash by 32.3% during the second quarter. Vontobel Holding Ltd. now owns 29,463 shares of the company’s stock valued at $2,252,000 after buying an additional 7,195 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of DoorDash by 758.5% during the second quarter. Robeco Institutional Asset Management B.V. now owns 325,326 shares of the company’s stock valued at $24,861,000 after purchasing an additional 287,430 shares during the last quarter. Achmea Investment Management B.V. lifted its holdings in shares of DoorDash by 49.9% during the second quarter. Achmea Investment Management B.V. now owns 10,430 shares of the company’s stock valued at $798,000 after purchasing an additional 3,470 shares during the last quarter. Asahi Life Asset Management CO. LTD. purchased a new stake in shares of DoorDash during the second quarter valued at $323,000. Finally, TB Alternative Assets Ltd. lifted its holdings in shares of DoorDash by 6.2% during the second quarter. TB Alternative Assets Ltd. now owns 503,500 shares of the company’s stock valued at $38,477,000 after purchasing an additional 29,400 shares during the last quarter. Institutional investors own 75.84% of the company’s stock.
Insider Buying and Selling at DoorDash
In other DoorDash news, Director Stanley Tang sold 93,000 shares of the business’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $83.76, for a total value of $7,789,680.00. Following the completion of the transaction, the director now directly owns 44,182 shares of the company’s stock, valued at $3,700,684.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Keith Yandell sold 3,500 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $75.62, for a total value of $264,670.00. Following the sale, the insider now directly owns 209,021 shares in the company, valued at $15,806,168.02. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Stanley Tang sold 93,000 shares of the business’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $83.76, for a total value of $7,789,680.00. Following the completion of the sale, the director now owns 44,182 shares in the company, valued at $3,700,684.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,014,465 shares of company stock valued at $80,595,254. Company insiders own 9.59% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on DASH shares. Moffett Nathanson downgraded DoorDash from an “outperform” rating to a “market perform” rating in a report on Friday, September 15th. Wells Fargo & Company increased their price objective on DoorDash from $70.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 3rd. Bank of America raised their price target on DoorDash from $82.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, August 1st. Jefferies Financial Group raised DoorDash from an “underperform” rating to a “hold” rating and raised their price target for the stock from $70.00 to $90.00 in a research note on Monday, September 11th. Finally, Mizuho raised DoorDash from a “neutral” rating to a “buy” rating and increased their price objective for the company from $90.00 to $105.00 in a report on Monday, September 18th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, DoorDash presently has a consensus rating of “Hold” and an average target price of $93.05.
View Our Latest Research Report on DASH
DoorDash Stock Performance
NYSE DASH opened at $92.49 on Friday. DoorDash, Inc. has a 52 week low of $45.93 and a 52 week high of $93.19. The stock has a fifty day moving average of $78.68 and a 200-day moving average of $75.34. The stock has a market capitalization of $36.38 billion, a P/E ratio of -34.38 and a beta of 1.61.
DoorDash (NYSE:DASH – Get Free Report) last announced its quarterly earnings data on Wednesday, November 1st. The company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.26. DoorDash had a negative return on equity of 9.88% and a negative net margin of 12.81%. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same period in the previous year, the firm earned ($0.77) earnings per share. The firm’s quarterly revenue was up 27.2% compared to the same quarter last year. Equities research analysts forecast that DoorDash, Inc. will post -1.73 earnings per share for the current fiscal year.
About DoorDash
DoorDash, Inc operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash and Wolt marketplaces, which provides an array of services that enable merchants to solve mission-critical challenges, such as customer acquisition, delivery, insights and analytics, merchandising, payment processing, and customer support; DashPass and Wolt+, a membership products; and offers DoorDash Drive and Wolt Drive, a white-label delivery fulfillment services; DoorDash Storefront that enables merchants to offer consumers on-demand access to e-commerce; and Bbot, which offers merchants digital ordering and payment solutions for in-store and online channels.
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