Assenagon Asset Management S.A. Acquires 163,597 Shares of DoorDash, Inc. (NASDAQ:DASH)

Assenagon Asset Management S.A. grew its position in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 422.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 202,340 shares of the company's stock after purchasing an additional 163,597 shares during the period. Assenagon Asset Management S.A.'s holdings in DoorDash were worth $33,943,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Commonwealth Equity Services LLC boosted its position in DoorDash by 34.5% during the 2nd quarter. Commonwealth Equity Services LLC now owns 6,275 shares of the company's stock worth $683,000 after purchasing an additional 1,611 shares during the period. Quest Partners LLC grew its position in shares of DoorDash by 146.8% during the second quarter. Quest Partners LLC now owns 343 shares of the company's stock worth $37,000 after buying an additional 204 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in DoorDash by 2.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 79,476 shares of the company's stock valued at $8,645,000 after acquiring an additional 1,828 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of DoorDash by 4.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 919,633 shares of the company's stock worth $100,051,000 after purchasing an additional 36,551 shares during the last quarter. Finally, Primecap Management Co. CA lifted its position in shares of DoorDash by 3.5% during the second quarter. Primecap Management Co. CA now owns 130,570 shares of the company's stock worth $14,203,000 after purchasing an additional 4,400 shares during the last quarter. Hedge funds and other institutional investors own 90.64% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Argus upgraded DoorDash from a "hold" rating to a "buy" rating in a research report on Friday, December 20th. Bank of America upped their price target on shares of DoorDash from $168.00 to $172.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Raymond James started coverage on DoorDash in a research report on Tuesday, September 24th. They set an "outperform" rating and a $155.00 price target for the company. BMO Capital Markets increased their price objective on shares of DoorDash from $140.00 to $180.00 and gave the company an "outperform" rating in a report on Thursday, October 31st. Finally, Wells Fargo & Company increased their price target on DoorDash from $150.00 to $166.00 and gave the company an "equal weight" rating in a research note on Thursday. Nine research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $175.97.

DoorDash Stock Up 2.1 %

Shares of DASH stock traded up $3.63 on Friday, reaching $174.48. The company had a trading volume of 3,653,938 shares, compared to its average volume of 2,502,567. DoorDash, Inc. has a one year low of $99.32 and a one year high of $181.78. The stock has a market capitalization of $72.48 billion, a PE ratio of -387.73, a price-to-earnings-growth ratio of 1.77 and a beta of 1.71. The business's 50-day moving average is $173.54 and its 200 day moving average is $145.27.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (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 analyst estimates of $2.66 billion. During the same period last year, the company earned ($0.19) EPS. DoorDash's revenue for the quarter was up 25.0% compared to the same quarter last year. On average, sell-side analysts forecast that DoorDash, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Andy Fang sold 50,000 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $168.32, for a total value of $8,416,000.00. Following the transaction, the director now directly owns 16,176 shares in the company, valued at $2,722,744.32. This trade represents a 75.56 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Keith Yandell sold 7,980 shares of DoorDash stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $169.98, for a total transaction of $1,356,440.40. Following the transaction, the insider now owns 124,221 shares of the company's stock, valued at $21,115,085.58. This represents a 6.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,019,333 shares of company stock valued at $177,556,541 over the last ninety days. 7.92% of the stock is owned by company insiders.

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.