SB Investment Advisers UK Ltd. Has $912.69 Million Stock Position in DoorDash, Inc. (NYSE:DASH)
SB Investment Advisers UK Ltd. cut its position in DoorDash, Inc. (NYSE:DASH – Free Report) by 18.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,943,082 shares of the company’s stock after selling 2,625,161 shares during the quarter. DoorDash comprises about 7.0% of SB Investment Advisers UK Ltd.’s portfolio, making the stock its 3rd biggest holding. SB Investment Advisers UK Ltd. owned approximately 3.04% of DoorDash worth $912,690,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of DASH. Newlands Management Operations LLC lifted its position in shares of DoorDash by 94.8% during the 2nd quarter. Newlands Management Operations LLC now owns 7,050,680 shares of the company’s stock valued at $538,813,000 after acquiring an additional 3,430,729 shares during the period. Norges Bank bought a new stake in shares of DoorDash during the 4th quarter worth $132,721,000. Baillie Gifford & Co. lifted its position in shares of DoorDash by 26.0% during the 2nd quarter. Baillie Gifford & Co. now owns 12,254,555 shares of the company’s stock worth $936,493,000 after buying an additional 2,527,951 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of DoorDash by 18.8% during the 1st quarter. Vanguard Group Inc. now owns 12,862,889 shares of the company’s stock worth $1,507,402,000 after buying an additional 2,032,637 shares during the last quarter. Finally, Capital World Investors lifted its position in shares of DoorDash by 29.6% during the 2nd quarter. Capital World Investors now owns 7,994,552 shares of the company’s stock worth $610,944,000 after buying an additional 1,827,676 shares during the last quarter. 75.84% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
DASH has been the subject of several recent analyst reports. Truist Financial upped their price objective on DoorDash from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, November 3rd. JMP Securities upped their target price on DoorDash from $100.00 to $113.00 and gave the stock a “market outperform” rating in a report on Friday, November 3rd. Wedbush upped their target price on DoorDash from $85.00 to $92.00 and gave the stock a “neutral” rating in a report on Thursday, November 2nd. Moffett Nathanson cut DoorDash from an “outperform” rating to a “market perform” rating in a report on Friday, September 15th. Finally, Mizuho raised DoorDash from a “neutral” rating to a “buy” rating and upped their target price for the stock from $90.00 to $105.00 in a report on Monday, September 18th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $95.81.
View Our Latest Report on DASH
DoorDash Trading Up 1.0 %
Shares of DASH stock traded up $1.03 on Friday, hitting $100.00. The company had a trading volume of 4,309,014 shares, compared to its average volume of 4,198,051. The stock’s 50-day moving average is $85.30 and its two-hundred day moving average is $80.64. DoorDash, Inc. has a twelve month low of $45.93 and a twelve month high of $100.73.
DoorDash (NYSE:DASH – Get Free Report) last released its earnings results on Wednesday, November 1st. The company reported ($0.19) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.26. DoorDash had a negative return on equity of 9.88% and a negative net margin of 12.81%. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter last year, the firm posted ($0.77) earnings per share. The firm’s revenue was up 27.2% on a year-over-year basis. On average, equities research analysts forecast that DoorDash, Inc. will post -1.19 earnings per share for the current year.
Insider Buying and Selling
In related news, Director Stanley Tang sold 93,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $98.32, for a total transaction of $9,143,760.00. Following the completion of the sale, the director now owns 40,304 shares of the company’s stock, valued at $3,962,689.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other DoorDash news, CFO Ravi Inukonda sold 3,500 shares of the stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $71.61, for a total value of $250,635.00. Following the transaction, the chief financial officer now owns 449,788 shares in the company, valued at $32,209,318.68. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Stanley Tang sold 93,000 shares of the stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $98.32, for a total value of $9,143,760.00. Following the completion of the transaction, the director now owns 40,304 shares in the company, valued at approximately $3,962,689.28. The disclosure for this sale can be found here. Insiders sold 720,500 shares of company stock valued at $61,351,171 over the last 90 days. Company insiders own 9.59% of the company’s stock.
About DoorDash (Free Report)
DoorDash, Inc operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash and Wolt marketplaces, which provides an array of services that enable merchants to solve mission-critical challenges, such as customer acquisition, delivery, insights and analytics, merchandising, payment processing, and customer support; DashPass and Wolt+, a membership products; and offers DoorDash Drive and Wolt Drive, a white-label delivery fulfillment services; DoorDash Storefront that enables merchants to offer consumers on-demand access to e-commerce; and Bbot, which offers merchants digital ordering and payment solutions for in-store and online channels.
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