Natixis Advisors LLC Increases Stock Position in DoorDash, Inc. $DASH

Natixis Advisors LLC lifted its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 13.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 143,442 shares of the company’s stock after purchasing an additional 16,821 shares during the period. Natixis Advisors LLC’s holdings in DoorDash were worth $32,487,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of DoorDash during the 4th quarter valued at approximately $1,093,650,000. Vanguard Group Inc. raised its holdings in shares of DoorDash by 3.7% in the 3rd quarter. Vanguard Group Inc. now owns 42,712,908 shares of the company’s stock worth $11,617,484,000 after purchasing an additional 1,522,823 shares during the period. Scge Management L.P. bought a new stake in shares of DoorDash in the 2nd quarter worth approximately $267,463,000. Invesco Ltd. lifted its stake in DoorDash by 18.2% in the third quarter. Invesco Ltd. now owns 6,355,628 shares of the company’s stock valued at $1,728,667,000 after purchasing an additional 980,148 shares during the last quarter. Finally, State Street Corp grew its holdings in DoorDash by 6.3% during the third 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 period. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on DASH shares. Barclays decreased their target price on DoorDash from $238.00 to $220.00 and set an “equal weight” rating for the company in a research report on Thursday, February 19th. Morgan Stanley reiterated an “overweight” rating and set a $275.00 price target on shares of DoorDash in a research note on Thursday, February 19th. Bank of America lifted their price objective on DoorDash from $260.00 to $272.00 and gave the stock a “buy” rating in a report on Thursday, February 19th. Benchmark boosted their price objective on DoorDash from $280.00 to $285.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. Finally, BTIG Research reaffirmed a “buy” rating and set a $280.00 price objective on shares of DoorDash in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $259.58.

Insider Buying and Selling

In related news, General Counsel Tia Sherringham sold 2,743 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $160.79, for a total transaction of $441,046.97. Following the completion of the transaction, the general counsel owned 128,216 shares of the company’s stock, valued at approximately $20,615,850.64. The trade was a 2.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stanley Tang sold 21,433 shares of the company’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $150.00, for a total transaction of $3,214,950.00. Following the sale, the director directly owned 19,279 shares in the company, valued at $2,891,850. This trade represents a 52.65% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 three months. Insiders own 5.83% of the company’s stock.

DoorDash Stock Performance

NASDAQ:DASH opened at $160.07 on Friday. The business’s fifty day moving average is $162.32 and its 200 day moving average is $186.05. The firm has a market cap of $69.75 billion, a price-to-earnings ratio of 76.22 and a beta of 1.83. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.43 and a current ratio of 1.43. DoorDash, Inc. has a 52-week low of $143.30 and a 52-week high of $285.50.

DoorDash (NASDAQ:DASH) last issued its earnings results on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.36 by $0.06. The business had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $4.15 billion. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The firm’s revenue was up 33.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.44 EPS. Research analysts predict that DoorDash, Inc. will post 2.45 EPS for the current 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.