Geode Capital Management LLC Acquires 267,855 Shares of DoorDash, Inc. (NASDAQ:DASH)

Geode Capital Management LLC raised its position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 6.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,472,154 shares of the company's stock after purchasing an additional 267,855 shares during the period. Geode Capital Management LLC owned approximately 1.08% of DoorDash worth $636,652,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Baillie Gifford & Co. grew its holdings in DoorDash by 13.2% during the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company's stock worth $2,018,584,000 after acquiring an additional 1,645,186 shares during the last quarter. Dragoneer Investment Group LLC boosted its holdings in DoorDash by 77.9% in the second quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company's stock worth $309,755,000 after acquiring an additional 1,246,567 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in DoorDash by 216.1% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,082,362 shares of the company's stock valued at $154,486,000 after purchasing an additional 739,961 shares during the period. Jupiter Asset Management Ltd. increased its position in shares of DoorDash by 3,284.7% during the second quarter. Jupiter Asset Management Ltd. now owns 729,779 shares of the company's stock worth $79,385,000 after acquiring an additional 708,218 shares in the last quarter. Finally, Janus Henderson Group PLC raised its position in DoorDash by 14.5% in the 3rd quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company's stock valued at $789,766,000 after buying an additional 700,465 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on DASH shares. JMP Securities boosted their target price on DoorDash from $160.00 to $190.00 and gave the stock a "market outperform" rating in a research note on Thursday, October 31st. KeyCorp lifted their price objective on shares of DoorDash from $177.00 to $180.00 and gave the company an "overweight" rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. lifted their target price on DoorDash from $137.00 to $155.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Susquehanna increased 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, Royal Bank of Canada boosted their price target on shares of DoorDash from $175.00 to $215.00 and gave the company an "outperform" rating in a research report on Friday, December 6th. Ten investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $167.27.

DoorDash Stock Performance

Shares of NASDAQ DASH traded down $0.93 during trading hours on Friday, hitting $175.09. The company's stock had a trading volume of 2,305,433 shares, compared to its average volume of 3,730,281. The business has a 50-day simple moving average of $164.81 and a 200-day simple moving average of $135.41. The stock has a market cap of $72.73 billion, a price-to-earnings ratio of -389.09, a P/E/G ratio of 13.56 and a beta of 1.70. DoorDash, Inc. has a 12 month low of $93.33 and a 12 month high of $181.30.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, beating analysts' consensus estimates of $0.21 by $0.17. The company had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.66 billion. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The firm's revenue for the quarter was up 25.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.19) earnings per share. On average, equities research analysts forecast that DoorDash, Inc. will post 0.26 EPS for the current year.

Insider Buying and Selling at DoorDash

In other news, CFO Ravi Inukonda sold 14,219 shares of the company's stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $169.98, for a total transaction of $2,416,945.62. Following the transaction, the chief financial officer now directly owns 380,993 shares of the company's stock, valued at $64,761,190.14. This represents a 3.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Tony Xu sold 115,432 shares of the firm's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $177.01, for a total transaction of $20,432,618.32. Following the sale, the chief executive officer now directly owns 1,500 shares in the company, valued at approximately $265,515. The trade was a 98.72 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 793,196 shares of company stock valued at $131,015,818. 7.92% of the stock is currently owned by corporate insiders.

DoorDash Company 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.