MetLife Investment Management LLC Lowers Position in DoorDash, Inc. (NASDAQ:DASH)

MetLife Investment Management LLC lessened its stake in DoorDash, Inc. (NASDAQ:DASH) by 1.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 19,864 shares of the company’s stock after selling 392 shares during the quarter. MetLife Investment Management LLC’s holdings in DoorDash were worth $2,835,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Rakuten Securities Inc. increased its position in DoorDash by 302.3% in the third quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $25,000 after purchasing an additional 130 shares during the last quarter. Meeder Asset Management Inc. increased its position in DoorDash by 82.0% in the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after purchasing an additional 132 shares during the last quarter. Headlands Technologies LLC bought a new stake in DoorDash in the second quarter worth $32,000. Quest Partners LLC increased its position in DoorDash by 146.8% in the second quarter. Quest Partners LLC now owns 343 shares of the company’s stock worth $37,000 after purchasing an additional 204 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its position in DoorDash by 141.1% in the second quarter. First Horizon Advisors Inc. now owns 352 shares of the company’s stock worth $38,000 after purchasing an additional 206 shares during the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Analysts Set New Price Targets

DASH has been the topic of several research reports. Mizuho boosted their price target on shares of DoorDash from $162.00 to $173.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Wells Fargo & Company boosted their price target on shares of DoorDash from $127.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Friday, October 4th. Keefe, Bruyette & Woods upgraded shares of DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 price objective on the stock in a research report on Wednesday, September 25th. Needham & Company LLC boosted their price objective on shares of DoorDash from $145.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Truist Financial boosted their price objective on shares of DoorDash from $170.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Ten equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat.com, DoorDash has a consensus rating of “Moderate Buy” and an average price target of $166.06.

DoorDash Stock Performance

DASH stock opened at $176.88 on Thursday. The firm has a market cap of $73.48 billion, a price-to-earnings ratio of -394.67, a PEG ratio of 13.56 and a beta of 1.70. The firm has a 50-day simple moving average of $159.54 and a two-hundred day simple moving average of $132.14. DoorDash, Inc. has a one year low of $93.33 and a one year high of $181.30.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, beating the consensus estimate of $0.21 by $0.17. The business had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The company’s quarterly revenue was up 25.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.19) earnings per share. As a group, equities analysts predict that DoorDash, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Buying and Selling at DoorDash

In related news, Director Andy Fang sold 50,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $130.20, for a total value of $6,510,000.00. Following the completion of the transaction, the director now directly owns 18,089 shares of the company’s stock, valued at $2,355,187.80. This trade represents a 73.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Tony Xu sold 54,166 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $140.06, for a total transaction of $7,586,489.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 838,722 shares of company stock valued at $136,732,309. 7.92% of the stock is currently owned by insiders.

DoorDash Profile

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.