Franklin Resources Inc. Boosts Stake in DoorDash, Inc. (NASDAQ:DASH)

Franklin Resources Inc. raised its stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 15.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,800,396 shares of the company's stock after acquiring an additional 501,905 shares during the quarter. Franklin Resources Inc. owned approximately 0.91% of DoorDash worth $570,135,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in DASH. Sequoia Financial Advisors LLC grew its position in shares of DoorDash by 11.5% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 2,922 shares of the company's stock worth $318,000 after buying an additional 302 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of DoorDash by 5.3% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 6,034 shares of the company's stock worth $656,000 after purchasing an additional 302 shares in the last quarter. Swedbank AB lifted its holdings in shares of DoorDash by 6.3% during the 2nd quarter. Swedbank AB now owns 163,928 shares of the company's stock valued at $17,832,000 after purchasing an additional 9,680 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of DoorDash by 1,505.3% during the 2nd quarter. Blue Trust Inc. now owns 610 shares of the company's stock valued at $66,000 after purchasing an additional 572 shares during the last quarter. Finally, Raymond James & Associates boosted its position in shares of DoorDash by 15.7% in the 2nd quarter. Raymond James & Associates now owns 80,350 shares of the company's stock worth $8,740,000 after purchasing an additional 10,899 shares in the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DASH has been the subject of a number of research analyst reports. Raymond James began coverage on DoorDash in a research note on Tuesday, September 24th. They issued 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 research report on Thursday, October 31st. Cantor Fitzgerald reissued an "overweight" rating and set a $160.00 target price on shares of DoorDash in a research report on Monday, October 7th. Susquehanna raised their price target on shares of DoorDash from $140.00 to $180.00 and gave the stock a "positive" rating in a report on Friday, November 1st. Finally, Benchmark lifted their price objective on shares of DoorDash from $152.00 to $173.00 and gave the stock a "buy" rating in a research note on Thursday, October 17th. Ten equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat, DoorDash has a consensus rating of "Moderate Buy" and an average target price of $167.27.

Insiders Place Their Bets

In other DoorDash news, Director Andy Fang sold 50,000 shares of the firm's stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $143.76, for a total value of $7,188,000.00. Following the completion of the sale, the director now directly owns 18,089 shares of the company's stock, valued at $2,600,474.64. This trade represents a 73.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 disclosure for this sale can be found here. Insiders have sold a total of 793,196 shares of company stock valued at $131,015,818 in the last 90 days. 7.92% of the stock is owned by insiders.

DoorDash Price Performance

DASH stock traded down $0.93 during trading on Friday, hitting $175.09. The stock had a trading volume of 2,305,444 shares, compared to its average volume of 3,730,281. DoorDash, Inc. has a twelve month low of $93.33 and a twelve month high of $181.30. The company's 50-day moving average price is $164.81 and its two-hundred day moving average price is $135.41. The stock has a market capitalization of $72.73 billion, a P/E ratio of -389.09, a PEG ratio of 13.56 and a beta of 1.70.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 firm had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same period in the previous year, the company posted ($0.19) earnings per share. The business's revenue was up 25.0% on a year-over-year basis. As a group, sell-side analysts expect that DoorDash, Inc. will post 0.26 EPS for the current fiscal year.

About DoorDash

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.