DoorDash, Inc. (NASDAQ:DASH) Shares Acquired by Van ECK Associates Corp

Van ECK Associates Corp increased its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 4.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 38,589 shares of the company’s stock after acquiring an additional 1,509 shares during the quarter. Van ECK Associates Corp’s holdings in DoorDash were worth $5,824,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. raised its holdings in DoorDash by 82.0% during 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 in the last quarter. Headlands Technologies LLC acquired a new stake in DoorDash during the 2nd quarter worth $32,000. Versant Capital Management Inc raised its stake in DoorDash by 340.8% during the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock worth $36,000 after acquiring an additional 259 shares in the last quarter. ORG Partners LLC lifted its position in DoorDash by 2,108.3% in the first quarter. ORG Partners LLC now owns 265 shares of the company’s stock valued at $37,000 after acquiring an additional 253 shares during the last quarter. Finally, Quest Partners LLC boosted its stake in DoorDash by 146.8% in the second quarter. Quest Partners LLC now owns 343 shares of the company’s stock valued at $37,000 after acquiring an additional 204 shares in the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

DoorDash Stock Performance

DoorDash stock opened at $170.59 on Friday. DoorDash, Inc. has a fifty-two week low of $83.58 and a fifty-two week high of $171.20. The stock has a fifty day moving average of $143.32 and a two-hundred day moving average of $125.15. The company has a market capitalization of $70.20 billion, a price-to-earnings ratio of -379.09, a PEG ratio of 13.65 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.17. The firm had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.66 billion. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The firm’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.19) EPS. On average, analysts forecast that DoorDash, Inc. will post 0.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on DASH shares. Piper Sandler boosted their target price on DoorDash from $125.00 to $160.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. DA Davidson boosted their price objective on DoorDash from $119.00 to $150.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Raymond James began coverage on shares of DoorDash in a research report on Tuesday, September 24th. They set an “outperform” rating and a $155.00 target price on the stock. KeyCorp upped their price target on shares of DoorDash from $177.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Finally, Roth Mkm raised their price objective on shares of DoorDash from $118.00 to $124.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Ten investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat.com, DoorDash presently has a consensus rating of “Moderate Buy” and an average target price of $163.12.

Insider Activity

In related news, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the sale, the director now owns 18,089 shares in the company, valued at approximately $2,355,187.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Tony Xu sold 81,249 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $147.87, for a total transaction of $12,014,289.63. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the completion of the sale, the director now directly owns 18,089 shares in the company, valued at $2,355,187.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 324,539 shares of company stock valued at $46,439,330 over the last 90 days. Insiders own 7.92% of the company’s stock.

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.