DekaBank Deutsche Girozentrale Grows Stock Position in DoorDash, Inc. (NASDAQ:DASH)

DekaBank Deutsche Girozentrale boosted its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 27.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 55,807 shares of the company’s stock after buying an additional 12,167 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in DoorDash were worth $6,138,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of DASH. Janus Henderson Group PLC raised its holdings in shares of DoorDash by 11,416.7% in the first quarter. Janus Henderson Group PLC now owns 3,455,116 shares of the company’s stock worth $475,837,000 after buying an additional 3,425,115 shares during the period. Norges Bank purchased a new stake in DoorDash in the fourth quarter worth $264,806,000. Vanguard Group Inc. lifted its position in shares of DoorDash by 8.4% during the fourth quarter. Vanguard Group Inc. now owns 29,303,496 shares of the company’s stock worth $2,897,823,000 after purchasing an additional 2,259,976 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of DoorDash by 294.5% during the fourth quarter. Franklin Resources Inc. now owns 1,607,776 shares of the company’s stock valued at $158,993,000 after purchasing an additional 1,200,181 shares during the period. Finally, First Trust Advisors LP grew its holdings in shares of DoorDash by 45.6% in the fourth quarter. First Trust Advisors LP now owns 3,079,083 shares of the company’s stock worth $304,490,000 after purchasing an additional 964,860 shares during the last quarter. Institutional investors own 90.64% of the company’s stock.

DoorDash Stock Performance

Shares of DASH stock opened at $129.88 on Wednesday. DoorDash, Inc. has a fifty-two week low of $69.90 and a fifty-two week high of $143.34. The firm has a market capitalization of $53.11 billion, a price-to-earnings ratio of -120.26, a PEG ratio of 275.59 and a beta of 1.69. The stock’s 50-day simple moving average is $119.09 and its 200-day simple moving average is $121.32.

DoorDash (NASDAQ:DASH) last released its earnings results on Thursday, August 1st. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.29). DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. The company had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.54 billion. During the same period in the prior year, the firm posted ($0.44) EPS. The firm’s revenue for the quarter was up 23.3% on a year-over-year basis. As a group, equities analysts forecast that DoorDash, Inc. will post 0.01 earnings per share for the current year.

Insider Activity

In related news, Director Shona L. Brown sold 1,712 shares of the firm’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $110.97, for a total value of $189,980.64. Following the completion of the transaction, the director now owns 70,191 shares in the company, valued at approximately $7,789,095.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Tony Xu sold 54,166 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $107.75, for a total value of $5,836,386.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Shona L. Brown sold 1,712 shares of DoorDash stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $110.97, for a total transaction of $189,980.64. Following the sale, the director now owns 70,191 shares of the company’s stock, valued at $7,789,095.27. The disclosure for this sale can be found here. Insiders have sold 304,769 shares of company stock valued at $34,760,113 over the last ninety days. 7.92% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. DA Davidson lifted their price objective on shares of DoorDash from $110.00 to $119.00 and gave the company a “neutral” rating in a report on Monday, August 5th. Oppenheimer boosted their price target on DoorDash from $125.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Barclays raised their price objective on DoorDash from $113.00 to $120.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. KeyCorp assumed coverage on DoorDash in a report on Thursday, July 11th. They issued a “sector weight” rating for the company. Finally, Truist Financial increased their price target on DoorDash from $145.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Eleven analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, DoorDash presently has an average rating of “Moderate Buy” and an average price target of $142.57.

DoorDash Company 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.