DNB Asset Management AS Raises Position in DoorDash, Inc. $DASH

DNB Asset Management AS grew its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 4.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (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 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of DASH. Brighton Jones LLC grew its holdings in DoorDash by 24.0% during the fourth quarter. Brighton Jones LLC now owns 9,336 shares of the company’s stock valued at $1,566,000 after purchasing an additional 1,807 shares during the period. Integrated Wealth Concepts LLC raised its stake in shares of DoorDash by 21.5% in the first quarter. Integrated Wealth Concepts LLC now owns 1,715 shares of the company’s stock worth $314,000 after buying an additional 303 shares during the period. Empowered Funds LLC lifted its position in shares of DoorDash by 3.6% during the 1st quarter. Empowered Funds LLC now owns 8,130 shares of the company’s stock valued at $1,486,000 after buying an additional 285 shares in the last quarter. Sivia Capital Partners LLC grew its stake in shares of DoorDash by 92.9% during the 2nd quarter. Sivia Capital Partners LLC now owns 4,255 shares of the company’s stock valued at $1,049,000 after acquiring an additional 2,049 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its stake in shares of DoorDash by 84.8% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 5,446 shares of the company’s stock valued at $1,342,000 after acquiring an additional 2,499 shares during the period. 90.64% of the stock is owned by institutional investors.

Insider Transactions at DoorDash

In related news, Director Stanley Tang sold 45,410 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $209.01, for a total transaction of $9,491,144.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Prabir Adarkar sold 15,000 shares of the business’s stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $204.59, for a total value of $3,068,850.00. Following the transaction, the chief operating officer owned 874,130 shares of the company’s stock, valued at approximately $178,838,256.70. The trade was a 1.69% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 291,236 shares of company stock valued at $63,380,925. Company insiders own 5.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on DASH shares. Evercore set a $300.00 price objective on shares of DoorDash in a research note on Thursday, February 19th. Wall Street Zen downgraded shares of DoorDash from a “buy” rating to a “hold” rating in a report on Saturday, November 1st. DA Davidson cut their price target on DoorDash from $260.00 to $224.00 and set a “neutral” rating for the company in a research note on Thursday, February 19th. Mizuho decreased their price target on DoorDash from $350.00 to $320.00 and set an “outperform” rating on the stock in a report on Wednesday, November 12th. Finally, The Goldman Sachs Group set a $267.00 price objective on DoorDash in a research note on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $264.74.

DoorDash Trading Down 2.2%

DASH stock opened at $176.47 on Friday. DoorDash, Inc. has a twelve month low of $155.40 and a twelve month high of $285.50. The stock has a market capitalization 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 firm’s fifty day simple moving average is $202.02 and its two-hundred day simple moving average is $228.22.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Wednesday, February 18th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.10). The firm had revenue of $3.96 billion for the quarter, compared to the consensus estimate of $3.98 billion. DoorDash had a net margin of 6.82% and a return on equity of 10.15%. The business’s revenue for the quarter was up 37.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.33 earnings per share. As a group, analysts anticipate that DoorDash, Inc. will post 2.22 earnings per share for the current 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.