Allspring Global Investments Holdings LLC Grows Holdings in DoorDash, Inc. (NASDAQ:DASH)

Allspring Global Investments Holdings LLC raised its holdings in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 216.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,082,362 shares of the company's stock after purchasing an additional 739,961 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.26% of DoorDash worth $154,486,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Marshall Wace LLP lifted its stake in DoorDash by 930.5% in the 2nd quarter. Marshall Wace LLP now owns 675,988 shares of the company's stock valued at $73,534,000 after purchasing an additional 610,388 shares during the last quarter. Jupiter Asset Management Ltd. bought a new position in shares of DoorDash in the 1st quarter valued at $2,969,000. CWM LLC lifted its stake in shares of DoorDash by 97.1% in the 3rd quarter. CWM LLC now owns 10,705 shares of the company's stock valued at $1,528,000 after acquiring an additional 5,273 shares during the last quarter. Paragon Capital Management Inc. acquired a new stake in shares of DoorDash during the 2nd quarter valued at $1,309,000. Finally, Hennion & Walsh Asset Management Inc. grew its position in DoorDash by 9.0% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 25,807 shares of the company's stock worth $2,807,000 after acquiring an additional 2,125 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company's stock.

Insider Buying and Selling at DoorDash

In related news, CEO Tony Xu sold 54,166 shares of the business's stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $123.43, for a total value of $6,685,709.38. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CFO Ravi Inukonda sold 7,000 shares of the firm's stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $106.64, for a total value of $746,480.00. Following the completion of the transaction, the chief financial officer now directly owns 417,223 shares of the company's stock, valued at $44,492,660.72. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Tony Xu sold 54,166 shares of DoorDash stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $123.43, for a total value of $6,685,709.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 390,710 shares of company stock valued at $54,472,120. Company insiders own 7.92% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Roth Mkm boosted their target price on shares of DoorDash from $118.00 to $124.00 and gave the stock a "neutral" rating in a report on Monday, August 5th. Raymond James assumed coverage on DoorDash in a report on Tuesday, September 24th. They issued an "outperform" rating and a $155.00 price objective for the company. Piper Sandler reaffirmed a "neutral" rating and set a $125.00 target price (up from $115.00) on shares of DoorDash in a report on Friday, August 2nd. Wells Fargo & Company increased their price target on DoorDash from $127.00 to $142.00 and gave the company an "equal weight" rating in a research note on Friday, October 4th. Finally, Morgan Stanley upped their target price on DoorDash from $145.00 to $150.00 and gave the company an "overweight" rating in a report on Friday, August 2nd. Ten investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $148.16.

DoorDash Price Performance

Shares of NASDAQ DASH traded up $0.58 during trading on Friday, hitting $151.98. The stock had a trading volume of 1,791,278 shares, compared to its average volume of 3,868,463. The firm has a fifty day moving average of $135.26 and a two-hundred day moving average of $122.85. The company has a market capitalization of $62.15 billion, a PE ratio of -140.72, a PEG ratio of 425.82 and a beta of 1.70. DoorDash, Inc. has a 12 month low of $69.90 and a 12 month high of $152.52.

DoorDash (NASDAQ:DASH - Get Free Report) last released its earnings results on Thursday, August 1st. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.29). The business had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.54 billion. DoorDash had a negative net margin of 4.24% and a negative return on equity of 5.91%. The business's revenue was up 23.3% on a year-over-year basis. During the same period in the prior year, the company earned ($0.44) earnings per share. On average, equities analysts expect that DoorDash, Inc. will post 0.01 earnings per share 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.