DekaBank Deutsche Girozentrale Raises Holdings in DoorDash, Inc. $DASH

DekaBank Deutsche Girozentrale boosted its position in DoorDash, Inc. (NASDAQ:DASH) by 0.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 43,845 shares of the company’s stock after purchasing an additional 205 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in DoorDash were worth $10,695,000 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. Saudi Central Bank acquired a new stake in shares of DoorDash in the first quarter valued at about $25,000. WPG Advisers LLC acquired a new position in DoorDash during the first quarter worth about $26,000. Pacific Center for Financial Services purchased a new stake in DoorDash during the 1st quarter valued at about $27,000. GFG Capital LLC acquired a new stake in DoorDash in the 2nd quarter valued at about $30,000. Finally, Harbour Investments Inc. lifted its stake in DoorDash by 55.6% in the 1st quarter. Harbour Investments Inc. now owns 196 shares of the company’s stock worth $36,000 after purchasing an additional 70 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

Insider Activity at DoorDash

In other news, COO Prabir Adarkar sold 41,881 shares of the firm’s stock in a transaction on Monday, August 25th. The stock was sold at an average price of $245.82, for a total transaction of $10,295,187.42. Following the completion of the transaction, the chief operating officer directly owned 914,547 shares in the company, valued at $224,813,943.54. This trade represents a 4.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $275.74, for a total value of $13,787,000.00. Following the completion of the sale, the director directly owned 22,545 shares of the company’s stock, valued at $6,216,558.30. The trade was a 68.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 932,156 shares of company stock worth $233,565,302. Company insiders own 5.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Susquehanna upped their price target on DoorDash from $235.00 to $300.00 and gave the company a “positive” rating in a research report on Monday, August 11th. JMP Securities boosted their price objective on DoorDash from $250.00 to $335.00 and gave the stock a “market outperform” rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. upgraded DoorDash from a “neutral” rating to an “overweight” rating and upped their target price for the company from $175.00 to $325.00 in a report on Tuesday, October 14th. UBS Group lifted their price target on DoorDash from $260.00 to $280.00 and gave the stock a “neutral” rating in a report on Thursday, August 7th. Finally, Wells Fargo & Company lowered their price target on shares of DoorDash from $306.00 to $301.00 and set an “equal weight” rating on the stock in a research report on Friday, October 3rd. Four analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, DoorDash has an average rating of “Moderate Buy” and an average target price of $285.68.

DoorDash Stock Up 0.9%

Shares of DASH opened at $254.59 on Friday. The firm has a market cap of $108.76 billion, a P/E ratio of 141.44 and a beta of 1.71. DoorDash, Inc. has a 12-month low of $151.26 and a 12-month high of $285.50. The company’s 50-day moving average price is $259.55 and its 200 day moving average price is $231.93. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.30.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.23. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.16 billion. DoorDash had a net margin of 6.57% and a return on equity of 9.56%. DoorDash’s revenue was up 24.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.38) earnings per share. On average, sell-side analysts forecast that DoorDash, Inc. will post 2.22 earnings per share for the current 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.