Commerce Bank Buys 2,543 Shares of DoorDash, Inc. (NASDAQ:DASH)

Commerce Bank grew its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 63.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 6,525 shares of the company’s stock after acquiring an additional 2,543 shares during the period. Commerce Bank’s holdings in DoorDash were worth $931,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Rakuten Securities Inc. increased its stake in DoorDash by 302.3% during the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock valued at $25,000 after purchasing an additional 130 shares in the last quarter. Meeder Asset Management Inc. increased its position in shares of DoorDash by 82.0% during the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock valued at $32,000 after acquiring an additional 132 shares in the last quarter. Headlands Technologies LLC bought a new stake in shares of DoorDash during the second quarter valued at approximately $32,000. Versant Capital Management Inc raised its holdings in DoorDash by 340.8% in the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock worth $36,000 after acquiring an additional 259 shares during the last quarter. Finally, Quest Partners LLC lifted its position in DoorDash by 146.8% in the 2nd quarter. Quest Partners LLC now owns 343 shares of the company’s stock valued at $37,000 after acquiring an additional 204 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Insider Activity at DoorDash

In related news, Director Andy Fang sold 50,000 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $172.67, for a total transaction of $8,633,500.00. Following the completion of the transaction, the director now directly owns 18,089 shares of the company’s stock, valued at approximately $3,123,427.63. This represents a 73.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Tony Xu sold 54,166 shares of DoorDash stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $140.06, for a total value of $7,586,489.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 547,753 shares of company stock valued at $84,544,996. Corporate insiders own 7.92% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on DASH shares. Oppenheimer boosted their price target on DoorDash from $145.00 to $160.00 and gave the stock an “outperform” rating in a research note on Friday, September 27th. Piper Sandler boosted their target price on DoorDash from $125.00 to $160.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Barclays raised their price target on shares of DoorDash from $120.00 to $163.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Mizuho boosted their price objective on shares of DoorDash from $162.00 to $173.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, The Goldman Sachs Group increased their price objective on shares of DoorDash from $142.00 to $161.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Ten analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $164.03.

DoorDash Stock Up 2.4 %

NASDAQ DASH opened at $177.24 on Monday. DoorDash, Inc. has a twelve month low of $92.56 and a twelve month high of $178.16. The business has a 50-day moving average price of $153.61 and a 200-day moving average price of $129.08. The firm has a market cap of $73.62 billion, a price-to-earnings ratio of -393.87, a price-to-earnings-growth ratio of 13.31 and a beta of 1.67.

DoorDash (NASDAQ:DASH) 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 during the quarter, compared to analyst estimates of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The company’s revenue was up 25.0% on a year-over-year basis. During the same period last year, the firm posted ($0.19) EPS. Research analysts expect that DoorDash, Inc. will post 0.26 EPS 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.