DoorDash, Inc. (NASDAQ:DASH) Shares Acquired by Covestor Ltd

Covestor Ltd lifted its holdings in DoorDash, Inc. (NASDAQ:DASH) by 32.0% in the third quarter, HoldingsChannel reports. The firm owned 1,878 shares of the company’s stock after buying an additional 455 shares during the quarter. Covestor Ltd’s holdings in DoorDash were worth $268,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Assetmark Inc. grew its stake in shares of DoorDash by 17.4% in the third quarter. Assetmark Inc. now owns 3,519 shares of the company’s stock worth $502,000 after acquiring an additional 522 shares in the last quarter. Hollencrest Capital Management acquired a new position in DoorDash during the 3rd quarter worth $54,000. Capital Performance Advisors LLP acquired a new position in DoorDash during the 3rd quarter worth $69,000. BloombergSen Inc. increased its holdings in DoorDash by 57.6% during the 3rd quarter. BloombergSen Inc. now owns 9,940 shares of the company’s stock worth $1,419,000 after purchasing an additional 3,631 shares during the period. Finally, Principal Financial Group Inc. raised its position in DoorDash by 25.0% in the 3rd quarter. Principal Financial Group Inc. now owns 90,786 shares of the company’s stock valued at $12,958,000 after purchasing an additional 18,155 shares in the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

DoorDash Trading Up 0.5 %

DoorDash stock opened at $171.40 on Friday. The stock has a 50 day moving average of $144.18 and a two-hundred day moving average of $125.43. DoorDash, Inc. has a twelve month low of $83.58 and a twelve month high of $172.18. The stock has a market capitalization of $71.20 billion, a price-to-earnings ratio of -380.89, a PEG ratio of 14.27 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.21 by $0.17. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The business had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the prior year, the business earned ($0.19) earnings per share. The company’s quarterly revenue was up 25.0% compared to the same quarter last year. Equities analysts predict that DoorDash, Inc. will post 0.24 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Tony Xu sold 54,166 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $140.06, for a total transaction of $7,586,489.96. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $149.83, for a total transaction of $7,491,500.00. Following the transaction, the director now owns 18,089 shares of the company’s stock, valued at $2,710,274.87. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Tony Xu sold 54,166 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $140.06, for a total value of $7,586,489.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 324,539 shares of company stock worth $46,439,330. 7.92% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Mizuho boosted their price objective on DoorDash from $162.00 to $173.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. boosted their price target on shares of DoorDash from $137.00 to $155.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. The Goldman Sachs Group raised their price objective on shares of DoorDash from $142.00 to $161.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Wolfe Research began coverage on shares of DoorDash in a research report on Tuesday, July 16th. They set an “outperform” rating and a $130.00 price objective for the company. Finally, Truist Financial increased their target price on DoorDash from $170.00 to $180.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Ten equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $163.12.

DoorDash 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.