Principal Financial Group Inc. Has $64.27 Million Holdings in DoorDash, Inc. $DASH

Principal Financial Group Inc. grew its stake in DoorDash, Inc. (NASDAQ:DASH) by 1.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 428,040 shares of the company’s stock after acquiring an additional 5,571 shares during the period. Principal Financial Group Inc.’s holdings in DoorDash were worth $64,270,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Norges Bank bought a new stake in shares of DoorDash during the fourth quarter valued at approximately $1,093,650,000. Wellington Management Group LLP raised its position in DoorDash by 593.1% in the 4th quarter. Wellington Management Group LLP now owns 5,481,693 shares of the company’s stock worth $1,241,494,000 after purchasing an additional 4,690,744 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in DoorDash by 32.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,958,114 shares of the company’s stock worth $3,161,234,000 after buying an additional 3,447,754 shares in the last quarter. Coatue Management LLC lifted its holdings in DoorDash by 77.8% during the 4th quarter. Coatue Management LLC now owns 4,365,365 shares of the company’s stock worth $988,668,000 after buying an additional 1,910,488 shares in the last quarter. Finally, Alyeska Investment Group L.P. bought a new position in DoorDash in the 4th quarter valued at $372,128,000. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DASH has been the subject of several research reports. Moffett Nathanson set a $276.00 target price on DoorDash in a research note on Wednesday, April 15th. Wells Fargo & Company cut their price target on DoorDash from $200.00 to $199.00 and set an “equal weight” rating on the stock in a research note on Monday, July 6th. The Goldman Sachs Group set a $280.00 price target on DoorDash in a report on Thursday, May 7th. Citigroup reiterated a “market outperform” rating on shares of DoorDash in a research report on Monday, June 22nd. Finally, Guggenheim reissued a “buy” rating and set a $255.00 price objective on shares of DoorDash in a report on Tuesday, June 23rd. One analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $252.89.

More DoorDash News

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash unveiled new developer-focused tools, including a macOS command-line product and an AI-agent ordering feature, which could highlight innovation and broaden how users interact with the platform. Yes, you can now order DoorDash from the command line
• Positive Sentiment: A new Wedbush coverage initiation with a $205 price target suggests Wall Street sees upside from current levels, which can support sentiment around the stock. DoorDash is now covered by Wedbush
• Positive Sentiment: DoorDash also expanded its merchant reach through a Shopify integration, which could help drive more delivery volume from brick-and-mortar retailers. DoorDash-Shopify Integration Creates On-Demand Delivery for Brick-and-Mortar Retailers
• Neutral Sentiment: Reports about DoorDash’s move into robots and autonomous delivery highlight long-term innovation, but the near-term financial impact is still unclear. Delivery company DoorDash wants to roll out robots on New Mexico roads
• Negative Sentiment: Fresh lawsuit headlines alleging DoorDash allowed an unlicensed driver to make deliveries add legal and reputational risk, which can weigh on shares. Former shipyard worker sues DoorDash for $25M, saying it allowed unlicensed driver to make deliveries
• Negative Sentiment: Broader competition may also be a concern after Uber’s acquisition of Delivery Hero, which could intensify pressure in global food delivery. Move over DoorDash, Uber’s latest deal would make it the world’s largest food delivery player outside China

DoorDash Price Performance

DASH opened at $186.36 on Friday. The company has a fifty day moving average price of $169.36 and a two-hundred day moving average price of $177.63. The firm has a market capitalization of $81.20 billion, a PE ratio of 88.74 and a beta of 1.78. DoorDash, Inc. has a 52 week low of $143.30 and a 52 week high of $285.50. 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 (NASDAQ:DASH) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The company had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $4.15 billion. During the same quarter in the prior year, the business posted $0.44 EPS. The firm’s quarterly revenue was up 33.1% on a year-over-year basis. As a group, analysts anticipate that DoorDash, Inc. will post 2.4 earnings per share for the current year.

Insiders Place Their Bets

In other DoorDash news, Director Shona L. Brown sold 582 shares of the stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $177.06, for a total value of $103,048.92. Following the transaction, the director owned 31,156 shares of the company’s stock, valued at approximately $5,516,481.36. This represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Prabir Adarkar sold 21,739 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $155.25, for a total value of $3,374,979.75. Following the transaction, the chief operating officer owned 959,076 shares in the company, valued at approximately $148,896,549. This trade represents a 2.22% 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 have sold a total of 84,927 shares of company stock valued at $15,124,932 in the last ninety days. 5.83% of the stock is currently owned by insiders.

About DoorDash

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.