abrdn plc Has $10.49 Million Stake in DoorDash, Inc. (NASDAQ:DASH)

abrdn plc lifted its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 106.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 106,045 shares of the company’s stock after buying an additional 54,674 shares during the quarter. abrdn plc’s holdings in DoorDash were worth $10,487,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Versor Investments LP bought a new position in shares of DoorDash during the third quarter worth approximately $556,000. Assenagon Asset Management S.A. increased its stake in shares of DoorDash by 1,725.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,113,175 shares of the company’s stock worth $110,082,000 after purchasing an additional 1,052,198 shares during the period. Sequoia Financial Advisors LLC bought a new position in shares of DoorDash during the fourth quarter worth approximately $769,000. Angeles Investment Advisors LLC bought a new position in shares of DoorDash during the third quarter worth approximately $336,000. Finally, Bank of Nova Scotia increased its stake in shares of DoorDash by 685.9% during the third quarter. Bank of Nova Scotia now owns 46,751 shares of the company’s stock worth $3,715,000 after purchasing an additional 40,802 shares during the period. Institutional investors own 90.64% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on DASH shares. Piper Sandler upgraded DoorDash from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $53.00 to $127.00 in a research note on Friday, March 15th. Truist Financial raised their price objective on DoorDash from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Wednesday, March 27th. Wedbush raised their price objective on DoorDash from $92.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, February 16th. Deutsche Bank Aktiengesellschaft raised their price objective on DoorDash from $140.00 to $155.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, Wells Fargo & Company raised their price objective on DoorDash from $100.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 4th. Nine investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, DoorDash currently has a consensus rating of “Moderate Buy” and an average target price of $130.52.

Insider Activity at DoorDash

In related news, CEO Tony Xu sold 132,300 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $131.96, for a total transaction of $17,458,308.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other DoorDash news, Director Shona L. Brown sold 700 shares of DoorDash stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $109.71, for a total transaction of $76,797.00. Following the transaction, the director now directly owns 71,514 shares of the company’s stock, valued at approximately $7,845,800.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Tony Xu sold 132,300 shares of DoorDash stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $131.96, for a total value of $17,458,308.00. The disclosure for this sale can be found here. Insiders have sold a total of 497,282 shares of company stock valued at $64,885,042 in the last 90 days. 9.59% of the stock is owned by corporate insiders.

DoorDash Stock Up 1.1 %

NASDAQ DASH opened at $128.11 on Friday. DoorDash, Inc. has a twelve month low of $56.96 and a twelve month high of $143.34. The company has a market cap of $51.76 billion, a price-to-earnings ratio of -89.59, a price-to-earnings-growth ratio of 14.39 and a beta of 1.79. The business’s fifty day moving average is $130.98 and its 200 day moving average is $108.20.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Thursday, February 15th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.15) by ($0.24). DoorDash had a negative net margin of 6.46% and a negative return on equity of 8.49%. The firm had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.25 billion. During the same period last year, the business earned ($0.63) EPS. The company’s revenue was up 26.7% compared to the same quarter last year. On average, research analysts anticipate that DoorDash, Inc. will post 0.21 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.