DNB Asset Management AS Purchases 2,899 Shares of DoorDash, Inc. $DASH

DNB Asset Management AS grew its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 4.5% during the third quarter, according to its most recent filing with the SEC. The firm owned 67,632 shares of the company’s stock after acquiring an additional 2,899 shares during the period. DNB Asset Management AS’s holdings in DoorDash were worth $18,395,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in DoorDash by 3.7% in the third 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. State Street Corp lifted its position in DoorDash by 3.1% during the second quarter. State Street Corp now owns 14,387,499 shares of the company’s stock valued at $3,546,662,000 after buying an additional 427,722 shares during the period. Geode Capital Management LLC lifted its position in DoorDash by 2.9% during the second quarter. Geode Capital Management LLC now owns 7,951,230 shares of the company’s stock valued at $1,950,711,000 after buying an additional 223,188 shares during the period. Invesco Ltd. boosted its holdings in shares of DoorDash by 12.0% during the 2nd quarter. Invesco Ltd. now owns 5,375,480 shares of the company’s stock valued at $1,325,110,000 after buying an additional 575,629 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of DoorDash in the 2nd quarter worth about $1,185,576,000. Institutional investors own 90.64% of the company’s stock.

Insider Transactions at DoorDash

In related news, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction on Monday, December 1st. The stock was sold at an average price of $205.07, for a total value of $9,312,228.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andy Fang sold 30,000 shares of the stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $222.52, for a total value of $6,675,600.00. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 291,236 shares of company stock valued at $63,380,925. Corporate insiders own 5.83% of the company’s stock.

Analyst Upgrades and Downgrades

DASH has been the subject of a number of recent research reports. KeyCorp lifted their price target on shares of DoorDash from $275.00 to $280.00 and gave the company an “overweight” rating in a research report on Thursday, February 19th. Argus decreased their target price on shares of DoorDash from $275.00 to $260.00 and set a “buy” rating for the company in a research note on Friday, December 12th. Oppenheimer lowered their target price on shares of DoorDash from $280.00 to $235.00 and set an “outperform” rating for the company in a report on Thursday, February 19th. Citizens Jmp dropped their price target on DoorDash from $285.00 to $250.00 and set a “market outperform” rating on the stock in a research report on Friday, February 20th. Finally, Sanford C. Bernstein reduced their price objective on DoorDash from $285.00 to $270.00 and set an “outperform” rating for the company in a research report on Thursday, February 19th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $264.74.

DoorDash Trading Down 2.2%

NASDAQ:DASH opened at $176.47 on Friday. The stock has a market cap of $76.06 billion, a price-to-earnings ratio of 83.24 and a beta of 1.77. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.27. The company’s 50 day moving average price is $202.02 and its 200-day moving average price is $228.22. DoorDash, Inc. has a 52 week low of $155.40 and a 52 week high of $285.50.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Wednesday, February 18th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.10). DoorDash had a return on equity of 10.15% and a net margin of 6.82%.The business had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $3.98 billion. During the same quarter in the previous year, the business posted $0.33 earnings per share. DoorDash’s quarterly revenue was up 37.7% compared to the same quarter last year. On average, equities research analysts forecast that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

DoorDash 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.