Eurizon Capital SGR S.p.A. Invests $86.98 Million in DoorDash, Inc. $DASH

Eurizon Capital SGR S.p.A. purchased a new position in shares of DoorDash, Inc. (NASDAQ:DASH) during the fourth quarter, HoldingsChannel reports. The fund purchased 383,586 shares of the company’s stock, valued at approximately $86,983,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Fideuram Asset Management Ireland dac bought a new position in shares of DoorDash during the fourth quarter worth $96,000. National Pension Service boosted its position in shares of DoorDash by 8.9% during the fourth quarter. National Pension Service now owns 756,003 shares of the company’s stock worth $171,220,000 after purchasing an additional 61,892 shares in the last quarter. SBI Okasan Asset Management Co.Ltd. bought a new position in shares of DoorDash during the fourth quarter worth $266,000. Intech Investment Management LLC boosted its position in shares of DoorDash by 707.8% during the fourth quarter. Intech Investment Management LLC now owns 253,348 shares of the company’s stock worth $57,378,000 after purchasing an additional 221,985 shares in the last quarter. Finally, Huntington National Bank boosted its position in shares of DoorDash by 15.2% during the fourth quarter. Huntington National Bank now owns 1,406 shares of the company’s stock worth $318,000 after purchasing an additional 186 shares in the last quarter. 90.64% of the stock is owned by institutional investors.

DoorDash Trading Up 1.7%

Shares of NASDAQ:DASH opened at $159.29 on Friday. The company’s 50-day moving average price is $162.21 and its two-hundred day moving average price is $187.31. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.43 and a quick ratio of 1.43. DoorDash, Inc. has a one year low of $143.30 and a one year high of $285.50. The stock has a market capitalization of $69.41 billion, a PE ratio of 75.85 and a beta of 1.87.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.36 by $0.06. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The firm had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same period in the previous year, the firm posted $0.44 EPS. The company’s revenue for the quarter was up 33.1% on a year-over-year basis. On average, equities analysts forecast that DoorDash, Inc. will post 2.45 EPS for the current fiscal year.

Key DoorDash News

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash announced a partnership with Dollar Tree that will bring on-demand delivery to Dollar Tree’s full U.S. store footprint, opening access to more than 9,000 stores and over 10,000 products. Investors may view this as a meaningful expansion beyond restaurant delivery and a potential driver of order growth. DoorDash and Dollar Tree Partner to Bring Greater Value and Thrill of the Hunt Discovery On-Demand
• Positive Sentiment: Jim Cramer said he thinks DoorDash “is a buy,” adding another bullish media mention that can help sentiment around the stock. Jim Cramer Says He Thinks “DoorDash Is a Buy”
• Neutral Sentiment: Commentary about the food-delivery industry said the competitive battle is entering a more aggressive phase. That could support DoorDash’s scale advantages, but it also suggests continued pressure to defend market share and margins. The Food Delivery War Just Entered Its Final Phase
• Negative Sentiment: Several insider sales were disclosed, including trades by COO Prabir Adarkar, General Counsel Tia Sherringham, and insider Keith Yandell. The sales were made under pre-arranged 10b5-1 plans, but insider selling can still make some investors cautious. Prabir Adarkar insider trade

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Roth Mkm reaffirmed a “neutral” rating and issued a $200.00 price objective on shares of DoorDash in a research report on Thursday, February 19th. Truist Financial lowered their target price on DoorDash from $340.00 to $330.00 and set a “buy” rating for the company in a report on Thursday, May 7th. Cantor Fitzgerald cut their price target on DoorDash from $285.00 to $230.00 and set an “overweight” rating on the stock in a report on Thursday, February 19th. Susquehanna cut their price target on DoorDash from $250.00 to $225.00 and set a “positive” rating on the stock in a report on Friday, May 8th. Finally, Zacks Research upgraded DoorDash from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 12th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $259.58.

Insider Activity

In other DoorDash news, insider Keith Yandell sold 2,643 shares of the business’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $155.34, for a total transaction of $410,563.62. Following the sale, the insider directly owned 81,106 shares of the company’s stock, valued at $12,599,006.04. The trade was a 3.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Tia Sherringham sold 2,743 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $160.79, for a total transaction of $441,046.97. Following the sale, the general counsel directly owned 128,216 shares in the company, valued at $20,615,850.64. This trade represents a 2.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 69,808 shares of company stock worth $11,135,403. 5.83% of the stock is currently owned by company 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.