Royal London Asset Management Ltd. Has $20.35 Million Stock Holdings in DoorDash, Inc. (NASDAQ:DASH)

Royal London Asset Management Ltd. lifted its holdings in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 5.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 142,542 shares of the company's stock after purchasing an additional 7,660 shares during the period. Royal London Asset Management Ltd.'s holdings in DoorDash were worth $20,345,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Asset Management One Co. Ltd. lifted its position 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 worth $16,012,000 after acquiring an additional 10,755 shares during the period. Marshall Wace LLP lifted its position in DoorDash by 930.5% in the second quarter. Marshall Wace LLP now owns 675,988 shares of the company's stock worth $73,534,000 after purchasing an additional 610,388 shares during the period. Forsta AP Fonden boosted its stake in DoorDash by 18.6% during the third quarter. Forsta AP Fonden now owns 64,500 shares of the company's stock worth $9,206,000 after buying an additional 10,100 shares in the last quarter. Baillie Gifford & Co. increased its holdings in DoorDash by 13.2% in the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company's stock valued at $2,018,584,000 after buying an additional 1,645,186 shares during the period. Finally, CWM LLC raised 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 buying an additional 5,273 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Tony Xu sold 108,334 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $180.07, for a total transaction of $19,507,703.38. Following the completion of the sale, the chief executive officer now owns 1,500 shares of the company's stock, valued at $270,105. This represents a 98.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ravi Inukonda sold 14,219 shares of the business's stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $169.98, for a total transaction of $2,416,945.62. Following the completion of the sale, the chief financial officer now directly owns 380,993 shares in the company, valued at $64,761,190.14. This represents a 3.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 838,722 shares of company stock worth $136,732,309. Corporate insiders own 7.92% of the company's stock.

DoorDash Stock Performance

Shares of DASH stock traded up $2.59 on Friday, reaching $178.48. The company had a trading volume of 1,950,607 shares, compared to its average volume of 2,746,848. The company has a 50-day moving average of $161.58 and a 200-day moving average of $133.21. 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 posted its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.17. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The company had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same period last year, the business posted ($0.19) earnings per share. The business's revenue for the quarter was up 25.0% compared to the same quarter last year. As a group, sell-side analysts expect that DoorDash, Inc. will post 0.26 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Barclays upped their target price on shares of DoorDash from $120.00 to $163.00 and gave the company an "equal weight" rating in a research note on Friday, November 1st. KeyCorp increased their price objective on DoorDash from $177.00 to $180.00 and gave the stock an "overweight" rating in a research note on Thursday, October 31st. Piper Sandler lifted their price objective on DoorDash from $125.00 to $160.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Needham & Company LLC upped their target price on shares of DoorDash from $145.00 to $180.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Finally, DA Davidson lifted their price target on shares of DoorDash from $119.00 to $150.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Ten research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $167.27.

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.