Commerce Bank Has $931,000 Holdings in DoorDash, Inc. (NASDAQ:DASH)

Commerce Bank increased its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 63.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,525 shares of the company’s stock after buying an additional 2,543 shares during the period. Commerce Bank’s holdings in DoorDash were worth $931,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of DASH. Baillie Gifford & Co. raised its position in shares of DoorDash by 13.2% in the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock worth $2,018,584,000 after acquiring an additional 1,645,186 shares in the last quarter. Dragoneer Investment Group LLC increased 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 worth $309,755,000 after purchasing an additional 1,246,567 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in DoorDash by 216.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,082,362 shares of the company’s stock valued at $154,486,000 after buying an additional 739,961 shares during the period. Jupiter Asset Management Ltd. lifted its stake in DoorDash by 3,284.7% in the second quarter. Jupiter Asset Management Ltd. now owns 729,779 shares of the company’s stock valued at $79,385,000 after buying an additional 708,218 shares during the period. Finally, Thrivent Financial for Lutherans boosted its holdings in shares of DoorDash by 5,396.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 663,599 shares of the company’s stock worth $94,716,000 after buying an additional 651,525 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Needham & Company LLC boosted their target price 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. Barclays increased their price objective on shares of DoorDash from $120.00 to $163.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Morgan Stanley raised their target price on DoorDash from $145.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Truist Financial upped their price target on DoorDash from $170.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Raymond James initiated coverage on DoorDash in a research note on Tuesday, September 24th. They issued an “outperform” rating and a $155.00 price objective for the company. Ten research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $164.03.

Insider Activity at DoorDash

In other DoorDash news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the completion of the transaction, the director now owns 18,089 shares of the company’s stock, valued at $2,355,187.80. This represents a 73.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Tony Xu sold 54,166 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $140.06, for a total value of $7,586,489.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 547,753 shares of company stock valued at $84,544,996. Corporate insiders own 7.92% of the company’s stock.

DoorDash Stock Up 2.4 %

NASDAQ:DASH opened at $177.24 on Monday. DoorDash, Inc. has a twelve month low of $92.56 and a twelve month high of $178.16. The stock has a market cap of $73.62 billion, a P/E ratio of -393.87, a PEG ratio of 13.31 and a beta of 1.67. The business’s 50-day moving average price is $153.61 and its two-hundred day moving average price is $129.08.

DoorDash (NASDAQ:DASH) last announced its 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. The business had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. DoorDash’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.19) earnings per share. On average, equities research analysts expect that DoorDash, Inc. will post 0.26 EPS for the current fiscal year.

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.