Principal Financial Group Inc. Acquires 18,155 Shares of DoorDash, Inc. (NASDAQ:DASH)

Principal Financial Group Inc. boosted its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 25.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 90,786 shares of the company's stock after acquiring an additional 18,155 shares during the period. Principal Financial Group Inc.'s holdings in DoorDash were worth $12,958,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Asset Management One Co. Ltd. boosted its stake in shares of DoorDash by 10.6% in the 3rd quarter. Asset Management One Co. Ltd. now owns 112,181 shares of the company's stock valued at $16,012,000 after purchasing an additional 10,755 shares during the last quarter. Marshall Wace LLP boosted its position in DoorDash by 930.5% during the second quarter. Marshall Wace LLP now owns 675,988 shares of the company's stock valued at $73,534,000 after acquiring an additional 610,388 shares during the last quarter. Forsta AP Fonden grew its holdings in DoorDash by 18.6% during the 3rd quarter. Forsta AP Fonden now owns 64,500 shares of the company's stock worth $9,206,000 after acquiring an additional 10,100 shares during the period. Jupiter Asset Management Ltd. bought a new position in shares of DoorDash in the 1st quarter worth about $2,969,000. Finally, CWM LLC boosted its position in shares of DoorDash by 97.1% during the 3rd quarter. CWM LLC now owns 10,705 shares of the company's stock valued at $1,528,000 after purchasing an additional 5,273 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company's stock.

Analyst Ratings Changes

DASH has been the subject of a number of research analyst reports. Truist Financial lifted their target price on DoorDash from $170.00 to $180.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Cantor Fitzgerald reiterated an "overweight" rating and issued a $160.00 price objective on shares of DoorDash in a research note on Monday, October 7th. DA Davidson increased their target price on shares of DoorDash from $119.00 to $150.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. lifted their price target on shares of DoorDash from $137.00 to $155.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Finally, Jefferies Financial Group upped their price objective on shares of DoorDash from $155.00 to $180.00 and gave the company a "buy" rating in a report on Tuesday, October 22nd. 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.com, DoorDash currently has an average rating of "Moderate Buy" and a consensus price target of $164.03.

Insider Activity

In related news, CEO Tony Xu sold 54,166 shares of the business's stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $140.06, for a total transaction of $7,586,489.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Andy Fang sold 50,000 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $130.20, for a total value of $6,510,000.00. Following the sale, the director now directly owns 18,089 shares in the company, valued at $2,355,187.80. This trade represents a 73.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 324,539 shares of company stock valued at $46,439,330 over the last quarter. Company insiders own 7.92% of the company's stock.

DoorDash Stock Performance

Shares of DASH traded down $4.37 during mid-day trading on Friday, hitting $169.43. The stock had a trading volume of 3,602,035 shares, compared to its average volume of 3,172,539. DoorDash, Inc. has a 52 week low of $92.56 and a 52 week high of $178.16. The business has a fifty day moving average price of $149.01 and a 200-day moving average price of $126.98.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.21 by $0.17. The business had revenue of $2.71 billion for the quarter, compared to analysts' expectations 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 quarterly revenue was up 25.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.19) EPS. On average, equities research analysts forecast that DoorDash, Inc. will post 0.24 EPS for the current year.

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.