DoorDash, Inc. (NASDAQ:DASH) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. boosted its holdings in DoorDash, Inc. (NASDAQ:DASH) by 25.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 90,786 shares of the company’s stock after acquiring an additional 18,155 shares during the period. Principal Financial Group Inc.’s holdings in DoorDash were worth $12,958,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in DASH. Asset Management One Co. Ltd. grew its position in shares of DoorDash by 10.6% in the third quarter. Asset Management One Co. Ltd. now owns 112,181 shares of the company’s stock valued at $16,012,000 after purchasing an additional 10,755 shares during the last quarter. Marshall Wace LLP lifted its stake in DoorDash by 930.5% in the 2nd quarter. Marshall Wace LLP now owns 675,988 shares of the company’s stock valued at $73,534,000 after buying an additional 610,388 shares in the last quarter. Forsta AP Fonden grew its holdings in DoorDash by 18.6% during the 3rd quarter. Forsta AP Fonden now owns 64,500 shares of the company’s stock valued at $9,206,000 after buying an additional 10,100 shares during the last quarter. Jupiter Asset Management Ltd. purchased a new position in DoorDash during the first quarter worth $2,969,000. Finally, CWM LLC raised its holdings in shares of DoorDash by 97.1% in the third quarter. CWM LLC now owns 10,705 shares of the company’s stock worth $1,528,000 after acquiring an additional 5,273 shares during the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at DoorDash

In other news, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $149.83, for a total transaction of $7,491,500.00. Following the sale, the director now directly owns 18,089 shares of the company’s stock, valued at approximately $2,710,274.87. The trade was a 73.43 % 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. Also, COO Prabir Adarkar sold 32,124 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $147.99, for a total value of $4,754,030.76. Following the completion of the transaction, the chief operating officer now owns 963,094 shares in the company, valued at approximately $142,528,281.06. This trade represents a 3.23 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 324,539 shares of company stock valued at $46,439,330. Corporate insiders own 7.92% of the company’s stock.

DoorDash Price Performance

Shares of NASDAQ DASH opened at $169.43 on Friday. DoorDash, Inc. has a 1-year low of $92.56 and a 1-year high of $178.16. The company has a market capitalization of $70.38 billion, a price-to-earnings ratio of -376.51, a PEG ratio of 14.79 and a beta of 1.67. The business has a 50-day moving average of $149.01 and a 200-day moving average of $126.98.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.21 by $0.17. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The firm had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same period in the previous year, the company posted ($0.19) EPS. DoorDash’s revenue for the quarter was up 25.0% on a year-over-year basis. Research analysts expect that DoorDash, Inc. will post 0.24 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on DASH. Benchmark increased their price objective on DoorDash from $152.00 to $173.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Truist Financial raised their price target on shares of DoorDash from $170.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. The Goldman Sachs Group boosted their price objective on shares of DoorDash from $142.00 to $161.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Mizuho raised their target price 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. Finally, KeyCorp increased their price target on DoorDash from $177.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, October 31st. Ten research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $164.03.

About DoorDash

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.