Geode Capital Management LLC Has $1.95 Billion Holdings in DoorDash, Inc. $DASH

Geode Capital Management LLC lifted its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 2.9% during the second quarter, Holdings Channel.com reports. The firm owned 7,951,230 shares of the company’s stock after purchasing an additional 223,188 shares during the period. Geode Capital Management LLC’s holdings in DoorDash were worth $1,950,711,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Gilbert & Cook Inc. raised its holdings in DoorDash by 2.6% during the second quarter. Gilbert & Cook Inc. now owns 1,685 shares of the company’s stock worth $415,000 after buying an additional 42 shares during the last quarter. Perigon Wealth Management LLC boosted its stake in DoorDash by 1.3% during the 2nd quarter. Perigon Wealth Management LLC now owns 3,701 shares of the company’s stock valued at $912,000 after purchasing an additional 46 shares during the last quarter. Yeomans Consulting Group Inc. grew its position in DoorDash by 3.9% in the 2nd quarter. Yeomans Consulting Group Inc. now owns 1,369 shares of the company’s stock worth $326,000 after purchasing an additional 51 shares in the last quarter. Palo Alto Wealth Advisors LLC boosted its stake in shares of DoorDash by 0.4% in the 1st quarter. Palo Alto Wealth Advisors LLC now owns 12,057 shares of the company’s stock worth $2,385,000 after buying an additional 54 shares during the last quarter. Finally, Westside Investment Management Inc. grew its holdings in shares of DoorDash by 9.0% in the second quarter. Westside Investment Management Inc. now owns 654 shares of the company’s stock valued at $160,000 after acquiring an additional 54 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on DASH. Stifel Nicolaus decreased their target price on DoorDash from $255.00 to $253.00 and set a “hold” rating for the company in a research report on Thursday, November 6th. Jefferies Financial Group increased their target price on shares of DoorDash from $265.00 to $280.00 and gave the company a “hold” rating in a research report on Friday, October 17th. Susquehanna lowered their price target on shares of DoorDash from $300.00 to $250.00 and set a “positive” rating on the stock in a report on Friday, November 7th. BTIG Research reiterated a “buy” rating and issued a $315.00 price objective on shares of DoorDash in a research note on Thursday, November 6th. Finally, Evercore ISI reissued an “outperform” rating and issued a $360.00 target price (up from $240.00) on shares of DoorDash in a research report on Friday, August 8th. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, DoorDash presently has a consensus rating of “Moderate Buy” and a consensus price target of $279.74.

DoorDash Stock Down 2.1%

DoorDash stock opened at $196.51 on Thursday. The firm has a 50 day simple moving average of $256.01 and a 200 day simple moving average of $237.98. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.29. DoorDash, Inc. has a 1-year low of $155.40 and a 1-year high of $285.50. The firm has a market capitalization of $83.95 billion, a price-to-earnings ratio of 99.75 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last posted its earnings results on Wednesday, November 5th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.13). The company had revenue of $3.45 billion for the quarter, compared to analysts’ expectations of $3.35 billion. DoorDash had a return on equity of 9.97% and a net margin of 6.83%.The company’s revenue was up 27.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.38 EPS. On average, analysts predict that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Insider Buying and Selling at DoorDash

In other news, CFO Ravi Inukonda sold 1,425 shares of the company’s stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $263.86, for a total transaction of $376,000.50. Following the sale, the chief financial officer directly owned 214,147 shares in the company, valued at $56,504,827.42. This represents a 0.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Shona L. Brown sold 1,250 shares of the stock in a transaction dated Thursday, October 9th. The stock was sold at an average price of $277.47, for a total transaction of $346,837.50. Following the completion of the sale, the director directly owned 37,252 shares in the company, valued at approximately $10,336,312.44. The trade was a 3.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 825,277 shares of company stock worth $205,015,591 in the last three months. 5.83% of the stock is currently owned by corporate insiders.

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.