Westpac Banking Corp Has $1.68 Million Stock Holdings in DoorDash, Inc. $DASH

Westpac Banking Corp decreased its holdings in DoorDash, Inc. (NASDAQ:DASH) by 43.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 7,410 shares of the company’s stock after selling 5,700 shares during the period. Westpac Banking Corp’s holdings in DoorDash were worth $1,678,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in DASH. Vanguard Group Inc. increased its position in shares of DoorDash by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 43,426,479 shares of the company’s stock worth $9,835,229,000 after purchasing an additional 713,571 shares in the last quarter. State Street Corp boosted its stake in shares of DoorDash by 6.3% in the 3rd quarter. State Street Corp now owns 15,296,624 shares of the company’s stock valued at $4,160,529,000 after purchasing an additional 909,125 shares during the last quarter. Capital World Investors boosted its stake in shares of DoorDash by 0.9% in the 3rd quarter. Capital World Investors now owns 10,865,927 shares of the company’s stock valued at $2,955,424,000 after purchasing an additional 95,278 shares during the last quarter. Geode Capital Management LLC raised its position in shares of DoorDash by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 8,867,615 shares of the company’s stock valued at $2,000,371,000 after acquiring an additional 252,471 shares during the period. Finally, Invesco Ltd. raised its position in shares of DoorDash by 18.2% in the 3rd quarter. Invesco Ltd. now owns 6,355,628 shares of the company’s stock valued at $1,728,667,000 after acquiring an additional 980,148 shares during the period. Institutional investors and hedge funds own 90.64% of the company’s stock.

Analyst Upgrades and Downgrades

DASH has been the topic of several research analyst reports. UBS Group raised their target price on shares of DoorDash from $206.00 to $214.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Bank of America increased their price objective on shares of DoorDash from $260.00 to $272.00 and gave the stock a “buy” rating in a research report on Thursday, February 19th. Citizens Jmp lowered their price objective on shares of DoorDash from $285.00 to $250.00 and set a “market outperform” rating for the company in a research report on Friday, February 20th. Piper Sandler lowered their price objective on shares of DoorDash from $220.00 to $205.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Finally, Roth Mkm reissued a “neutral” rating and set a $200.00 price objective on shares of DoorDash in a research report on Thursday, February 19th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $259.58.

Insider Buying and Selling at DoorDash

In related news, COO Prabir Adarkar sold 21,739 shares of the business’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $155.25, for a total transaction of $3,374,979.75. Following the transaction, the chief operating officer directly owned 959,076 shares in the company, valued at approximately $148,896,549. The trade was a 2.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Tia Sherringham sold 2,743 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $160.79, for a total transaction of $441,046.97. Following the transaction, the general counsel owned 128,216 shares in the company, valued at approximately $20,615,850.64. The trade was a 2.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 69,808 shares of company stock valued at $11,135,403 in the last 90 days. Company insiders own 5.83% of the company’s stock.

DoorDash Price Performance

Shares of DASH opened at $154.58 on Thursday. The company has a market cap of $67.35 billion, a price-to-earnings ratio of 73.61 and a beta of 1.83. DoorDash, Inc. has a 1-year low of $143.30 and a 1-year high of $285.50. The company’s fifty day simple moving average is $162.22 and its 200 day simple moving average is $186.38. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.27.

DoorDash (NASDAQ:DASH) last issued its earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06. The business had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $4.15 billion. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The firm’s revenue for the quarter was up 33.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.44 earnings per share. On average, research analysts forecast that DoorDash, Inc. will post 2.45 earnings per share for the current fiscal year.

DoorDash Company Profile

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.