DoorDash, Inc. (NASDAQ:DASH) Stake Raised by KBC Group NV

KBC Group NV grew its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 21.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 41,038 shares of the company’s stock after acquiring an additional 7,133 shares during the period. KBC Group NV’s holdings in DoorDash were worth $5,858,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Janus Henderson Group PLC lifted its stake in DoorDash by 11,416.7% during the first quarter. Janus Henderson Group PLC now owns 3,455,116 shares of the company’s stock worth $475,837,000 after purchasing an additional 3,425,115 shares during the period. Baillie Gifford & Co. raised its holdings in DoorDash by 13.2% during the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock worth $2,018,584,000 after purchasing an additional 1,645,186 shares during the last quarter. Dragoneer Investment Group LLC lifted its holdings in DoorDash by 77.9% in the second quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company’s stock valued at $309,755,000 after buying an additional 1,246,567 shares during the period. Canada Pension Plan Investment Board lifted its stake in shares of DoorDash by 595.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 891,879 shares of the company’s stock valued at $122,830,000 after purchasing an additional 763,579 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in DoorDash by 216.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,082,362 shares of the company’s stock worth $154,486,000 after buying an additional 739,961 shares during the last quarter. 90.64% of the stock is owned by institutional investors.

DoorDash Trading Down 2.5 %

DASH opened at $169.43 on Monday. The company has a market cap of $70.38 billion, a price-to-earnings ratio of -376.51, a PEG ratio of 14.26 and a beta of 1.67. The company’s fifty day moving average price is $149.01 and its two-hundred day moving average price is $126.98. DoorDash, Inc. has a 1-year low of $92.56 and a 1-year high of $178.16.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.17. The business had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The firm’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.19) EPS. As a group, equities analysts forecast that DoorDash, Inc. will post 0.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction dated 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 transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ravi Inukonda sold 7,000 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $127.86, for a total transaction of $895,020.00. Following the completion of the sale, the chief financial officer now owns 396,152 shares of the company’s stock, valued at approximately $50,651,994.72. This trade represents a 1.74 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 324,539 shares of company stock worth $46,439,330. 7.92% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

DASH has been the topic of several analyst reports. Oppenheimer increased their target price on shares of DoorDash from $145.00 to $160.00 and gave the stock an “outperform” rating in a report on Friday, September 27th. Barclays lifted their price target on DoorDash from $120.00 to $163.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Roth Mkm upped their price target on shares of DoorDash from $118.00 to $124.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. Needham & Company LLC boosted their price target on DoorDash from $145.00 to $180.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Piper Sandler lifted their price objective on shares of DoorDash from $125.00 to $160.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Ten analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. According to MarketBeat, DoorDash has a consensus rating of “Moderate Buy” and an average target price 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.