Meeder Asset Management Inc. Decreases Stock Position in DoorDash, Inc. (NASDAQ:DASH)

Meeder Asset Management Inc. cut its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 28.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 211 shares of the company’s stock after selling 82 shares during the quarter. Meeder Asset Management Inc.’s holdings in DoorDash were worth $30,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of DASH. Caprock Group LLC lifted its position in DoorDash by 48.2% in the third quarter. Caprock Group LLC now owns 3,409 shares of the company’s stock valued at $487,000 after purchasing an additional 1,109 shares during the last quarter. Meeder Advisory Services Inc. boosted its stake in shares of DoorDash by 12.4% during the 3rd quarter. Meeder Advisory Services Inc. now owns 4,678 shares of the company’s stock valued at $668,000 after purchasing an additional 517 shares in the last quarter. Quest Partners LLC increased its position in shares of DoorDash by 1,456.3% during the third quarter. Quest Partners LLC now owns 5,338 shares of the company’s stock valued at $762,000 after buying an additional 4,995 shares during the period. Gilbert & Cook Inc. bought a new position in shares of DoorDash in the 3rd quarter worth approximately $242,000. Finally, Swiss National Bank grew its position in shares of DoorDash by 8.3% in the 3rd quarter. Swiss National Bank now owns 906,300 shares of the company’s stock worth $129,356,000 after buying an additional 69,700 shares during the period. 90.64% of the stock is currently owned by institutional investors.

DoorDash Stock Performance

Shares of DASH opened at $173.65 on Friday. The company has a 50 day moving average price of $152.69 and a 200-day moving average price of $128.46. DoorDash, Inc. has a fifty-two week low of $92.56 and a fifty-two week high of $178.16. The stock has a market capitalization of $72.13 billion, a PE ratio of -385.88, a PEG ratio of 14.82 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter last year, the company earned ($0.19) earnings per share. The firm’s revenue for the quarter was up 25.0% compared to the same quarter last year. Equities research analysts forecast that DoorDash, Inc. will post 0.24 EPS for the current year.

Analysts Set New Price Targets

DASH has been the topic of several recent research reports. Keefe, Bruyette & Woods upgraded DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 price target on the stock in a research note on Wednesday, September 25th. Benchmark increased their price target on shares of DoorDash from $152.00 to $173.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Truist Financial increased their target price on shares of DoorDash from $170.00 to $180.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Royal Bank of Canada boosted their price target on DoorDash from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Finally, JMP Securities raised their price target on DoorDash from $160.00 to $190.00 and gave the company a “market outperform” rating in a report on Thursday, October 31st. Ten analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.03.

Insider Activity

In other news, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction 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 completion of the sale, the director now directly owns 18,089 shares in the company, valued at approximately $2,355,187.80. The trade was a 73.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Ravi Inukonda sold 7,000 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $127.86, for a total value of $895,020.00. Following the completion of the transaction, the chief financial officer now directly owns 396,152 shares in the company, valued at approximately $50,651,994.72. The trade was a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 482,871 shares of company stock worth $73,516,353. Insiders own 7.92% of the company’s stock.

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.