DoorDash, Inc. $DASH Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 11.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,009,221 shares of the company’s stock after selling 124,607 shares during the period. Allspring Global Investments Holdings LLC’s holdings in DoorDash were worth $240,205,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DASH. Vanguard Group Inc. increased its position in DoorDash by 25.8% during the 1st quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company’s stock worth $7,200,642,000 after purchasing an additional 8,073,882 shares during the period. AQR Capital Management LLC grew its holdings in shares of DoorDash by 442.5% in the 1st quarter. AQR Capital Management LLC now owns 1,836,122 shares of the company’s stock worth $321,799,000 after acquiring an additional 1,497,636 shares during the period. Invesco Ltd. grew its holdings in shares of DoorDash by 41.9% in the 1st quarter. Invesco Ltd. now owns 4,799,851 shares of the company’s stock worth $877,269,000 after acquiring an additional 1,416,194 shares during the period. Nuveen LLC acquired a new stake in shares of DoorDash in the 1st quarter worth approximately $211,415,000. Finally, Deutsche Bank AG grew its holdings in shares of DoorDash by 111.3% in the 1st quarter. Deutsche Bank AG now owns 2,009,699 shares of the company’s stock worth $367,313,000 after acquiring an additional 1,058,731 shares during the period. Institutional investors and hedge funds own 90.64% of the company’s stock.

Insiders Place Their Bets

In other DoorDash news, CEO Tony Xu sold 291,403 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $238.19, for a total transaction of $69,409,280.57. Following the transaction, the chief executive officer owned 229,047 shares of the company’s stock, valued at $54,556,704.93. This represents a 55.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Stanley Tang sold 45,410 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $247.11, for a total value of $11,221,265.10. Following the transaction, the director directly owned 26,070 shares in the company, valued at approximately $6,442,157.70. This represents a 63.53% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,001,054 shares of company stock worth $249,511,188. 5.83% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on DASH. Mizuho set a $350.00 price target on DoorDash and gave the stock an “outperform” rating in a report on Monday, September 29th. Sanford C. Bernstein upped their price target on DoorDash from $210.00 to $265.00 and gave the stock an “outperform” rating in a report on Monday, July 21st. Wall Street Zen upgraded DoorDash from a “hold” rating to a “buy” rating in a report on Saturday. Wedbush restated a “neutral” rating on shares of DoorDash in a report on Friday, August 8th. Finally, BMO Capital Markets upped their price target on DoorDash from $238.00 to $288.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $275.27.

DoorDash Price Performance

Shares of NASDAQ:DASH opened at $266.02 on Monday. The business’s fifty day moving average price is $258.41 and its two-hundred day moving average price is $227.20. The stock has a market cap of $113.64 billion, a PE ratio of 147.79 and a beta of 1.71. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.07 and a current ratio of 2.07. DoorDash, Inc. has a one year low of $143.37 and a one year high of $285.08.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.23. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.16 billion. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.DoorDash’s quarterly revenue was up 24.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.38) EPS. On average, analysts forecast that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

DoorDash Company Profile

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.