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

Principal Financial Group Inc. grew its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 25.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 90,786 shares of the company’s stock after purchasing 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 SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Baillie Gifford & Co. lifted its stake in DoorDash by 13.2% during the third quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock valued at $2,018,584,000 after buying an additional 1,645,186 shares in the last quarter. State Street Corp raised its holdings in shares of DoorDash by 3.8% during the third quarter. State Street Corp now owns 7,395,891 shares of the company’s stock valued at $1,055,616,000 after acquiring an additional 272,659 shares during the period. Janus Henderson Group PLC lifted its position in shares of DoorDash by 14.5% in the 3rd quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock valued at $789,766,000 after acquiring an additional 700,465 shares in the last quarter. Geode Capital Management LLC boosted its stake in DoorDash by 6.4% in the 3rd quarter. Geode Capital Management LLC now owns 4,472,154 shares of the company’s stock worth $636,652,000 after purchasing an additional 267,855 shares during the period. Finally, Franklin Resources Inc. grew its position in DoorDash by 15.2% during the 3rd quarter. Franklin Resources Inc. now owns 3,800,396 shares of the company’s stock worth $570,135,000 after purchasing an additional 501,905 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

Insider Activity at DoorDash

In related news, Director Andy Fang sold 50,000 shares of the stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $143.76, for a total value of $7,188,000.00. Following the completion of the transaction, the director now owns 18,089 shares of the company’s stock, valued at $2,600,474.64. This represents a 73.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Tony Xu sold 108,332 shares of DoorDash stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $178.74, for a total value of $19,363,261.68. Following the sale, the chief executive officer now directly owns 1,500 shares in the company, valued at $268,110. The trade was a 98.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 897,362 shares of company stock worth $151,625,589. 7.92% of the stock is owned by corporate insiders.

DoorDash Stock Performance

NASDAQ:DASH opened at $169.34 on Friday. The firm’s 50-day moving average is $169.61 and its 200-day moving average is $139.74. DoorDash, Inc. has a 52-week low of $93.33 and a 52-week high of $181.78. The company has a market cap of $70.34 billion, a price-to-earnings ratio of -376.31, a PEG ratio of 13.56 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating 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) earnings per share. The company’s quarterly revenue was up 25.0% compared to the same quarter last year. Equities analysts predict that DoorDash, Inc. will post 0.26 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on DASH shares. KeyCorp raised their target price on DoorDash from $177.00 to $180.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Barclays lifted their target price on DoorDash from $120.00 to $163.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Raymond James initiated coverage on shares of DoorDash in a research report on Tuesday, September 24th. They issued an “outperform” rating and a $155.00 price target for the company. Needham & Company LLC boosted their price objective on shares of DoorDash from $145.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Royal Bank of Canada increased their target price on shares of DoorDash from $175.00 to $215.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Nine equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat.com, DoorDash presently has a consensus rating of “Moderate Buy” and an average target price of $168.39.

DoorDash Company 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.