DoorDash, Inc. (NASDAQ:DASH) Shares Acquired by Prudential PLC

Prudential PLC raised its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 91.4% during the second quarter, HoldingsChannel.com reports. The firm owned 5,148 shares of the company’s stock after buying an additional 2,459 shares during the period. Prudential PLC’s holdings in DoorDash were worth $560,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Wells Fargo & Company MN increased its position in shares of DoorDash by 102.5% in the 4th quarter. Wells Fargo & Company MN now owns 199,152 shares of the company’s stock valued at $19,694,000 after acquiring an additional 100,787 shares during the period. Jupiter Asset Management Ltd. purchased a new stake in DoorDash in the first quarter valued at $2,969,000. Bank of Nova Scotia boosted its holdings in DoorDash by 298.3% in the fourth quarter. Bank of Nova Scotia now owns 186,201 shares of the company’s stock valued at $18,413,000 after purchasing an additional 139,450 shares during the last quarter. Franklin Resources Inc. boosted its holdings in DoorDash by 294.5% in 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 last quarter. Finally, D L Carlson Investment Group Inc. purchased a new stake in DoorDash in the fourth quarter valued at $2,421,000. 90.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. JMP Securities upped their price target on shares of DoorDash from $140.00 to $145.00 and gave the company a “market outperform” rating in a report on Friday, August 2nd. KeyCorp began coverage on shares of DoorDash in a report on Thursday, July 11th. They issued a “sector weight” rating on the stock. Wedbush reissued a “neutral” rating and set a $115.00 target price on shares of DoorDash in a research note on Friday, August 2nd. Truist Financial increased their target price on shares of DoorDash from $145.00 to $150.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, Benchmark reissued a “buy” rating and set a $150.00 target price on shares of DoorDash in a research note on Tuesday, July 30th. Eleven research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, DoorDash has a consensus rating of “Moderate Buy” and an average target price of $142.57.

Insider Buying and Selling

In other DoorDash news, insider Keith Yandell sold 6,554 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $107.75, for a total value of $706,193.50. Following the completion of the transaction, the insider now owns 155,097 shares of the company’s stock, valued at approximately $16,711,701.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other DoorDash news, insider Keith Yandell sold 6,554 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $107.75, for a total value of $706,193.50. Following the completion of the transaction, the insider now owns 155,097 shares of the company’s stock, valued at approximately $16,711,701.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Tony Xu sold 54,166 shares of DoorDash stock in a transaction on Monday, July 1st. The stock was sold at an average price of $107.75, for a total transaction of $5,836,386.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 254,769 shares of company stock valued at $28,250,113. Company insiders own 7.92% of the company’s stock.

DoorDash Stock Performance

NASDAQ:DASH opened at $130.19 on Friday. The stock has a market capitalization of $53.24 billion, a P/E ratio of -120.55, a PEG ratio of 737.67 and a beta of 1.69. The company has a 50 day moving average price of $118.25 and a 200 day moving average price of $121.22. DoorDash, Inc. has a fifty-two week low of $69.90 and a fifty-two week high of $143.34.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.29). The company had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.54 billion. DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. The business’s revenue for the quarter was up 23.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.44) EPS.

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.