Allspring Global Investments Holdings LLC Raises Holdings in DoorDash, Inc. $DASH

Allspring Global Investments Holdings LLC boosted its position in DoorDash, Inc. (NASDAQ:DASH) by 2.0% during the first quarter, Holdings Channel.com reports. The fund owned 988,423 shares of the company’s stock after purchasing an additional 19,646 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in DoorDash were worth $148,758,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. MV Capital Management Inc. acquired a new stake in DoorDash during the fourth quarter worth about $26,000. Eastern Bank lifted its stake in shares of DoorDash by 714.3% in the 4th quarter. Eastern Bank now owns 114 shares of the company’s stock valued at $26,000 after purchasing an additional 100 shares in the last quarter. Sunbelt Securities Inc. lifted its stake in shares of DoorDash by 124.1% in the 3rd quarter. Sunbelt Securities Inc. now owns 121 shares of the company’s stock valued at $33,000 after purchasing an additional 67 shares in the last quarter. Swiss RE Ltd. acquired a new position in shares of DoorDash in the 4th quarter valued at about $28,000. Finally, ST Germain D J Co. Inc. purchased a new stake in shares of DoorDash during the 4th quarter worth about $29,000. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Insider Transactions at DoorDash

In related news, General Counsel Tia Sherringham sold 2,743 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $160.79, for a total value of $441,046.97. Following the completion of the transaction, the general counsel owned 128,216 shares of the company’s stock, valued at approximately $20,615,850.64. This represents a 2.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Andy Fang sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $180.00, for a total value of $900,000.00. Additional details regarding this sale are available in the official SEC disclosure. 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 three months. 5.83% of the stock is currently owned by company insiders.

DoorDash Price Performance

DASH opened at $186.36 on Friday. The company has a fifty day simple moving average of $169.36 and a 200 day simple moving average of $177.63. The firm has a market cap of $81.20 billion, a price-to-earnings ratio of 88.74 and a beta of 1.78. DoorDash, Inc. has a twelve month low of $143.30 and a twelve month high of $285.50. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.27.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data 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. The company had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $4.15 billion. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The firm’s revenue for the quarter was up 33.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.44 EPS. Equities research analysts expect that DoorDash, Inc. will post 2.4 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Zacks Research raised shares of DoorDash from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 12th. Weiss Ratings raised shares of DoorDash from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, May 13th. The Goldman Sachs Group set a $280.00 price objective on shares of DoorDash in a research note on Thursday, May 7th. Argus set a $190.00 price objective on shares of DoorDash in a research report on Thursday, June 11th. Finally, Citigroup reissued a “market outperform” rating on shares of DoorDash in a research note on Monday, June 22nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $252.89.

Key Stories Impacting DoorDash

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

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.