KBC Group NV Boosts Holdings in DoorDash, Inc. (NASDAQ:DASH)

KBC Group NV increased its stake in DoorDash, Inc. (NASDAQ:DASH) by 21.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 41,038 shares of the company’s stock after purchasing an additional 7,133 shares during the quarter. KBC Group NV’s holdings in DoorDash were worth $5,858,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of DASH. Janus Henderson Group PLC increased its position in DoorDash by 11,416.7% in the first quarter. Janus Henderson Group PLC now owns 3,455,116 shares of the company’s stock worth $475,837,000 after buying an additional 3,425,115 shares during the last quarter. Baillie Gifford & Co. raised its stake 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 acquiring an additional 1,645,186 shares during the period. Dragoneer Investment Group LLC lifted its holdings in DoorDash by 77.9% during the second quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company’s stock valued at $309,755,000 after purchasing an additional 1,246,567 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in DoorDash by 595.2% during the first quarter. Canada Pension Plan Investment Board now owns 891,879 shares of the company’s stock worth $122,830,000 after purchasing an additional 763,579 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of DoorDash by 216.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,082,362 shares of the company’s stock worth $154,486,000 after purchasing an additional 739,961 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on DASH shares. Wedbush restated a “neutral” rating and set a $115.00 price target on shares of DoorDash in a research note on Friday, August 2nd. JPMorgan Chase & Co. lifted their price objective on DoorDash from $137.00 to $155.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Cantor Fitzgerald restated an “overweight” rating and set a $160.00 target price on shares of DoorDash in a research report on Monday, October 7th. DA Davidson raised their price target on DoorDash from $119.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Bank of America boosted their price objective on DoorDash from $168.00 to $172.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Ten investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $164.03.

DoorDash Stock Down 2.5 %

Shares of DASH opened at $169.43 on Monday. The firm has a fifty day simple moving average of $149.01 and a two-hundred day simple moving average of $126.98. DoorDash, Inc. has a twelve month low of $92.56 and a twelve month high of $178.16. The stock has a market capitalization of $70.38 billion, a P/E ratio of -376.51, a PEG ratio of 14.26 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last posted its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $2.66 billion. During the same period in the prior year, the business posted ($0.19) earnings per share. DoorDash’s revenue for the quarter was up 25.0% on a year-over-year basis. Sell-side analysts expect that DoorDash, Inc. will post 0.24 EPS for the current fiscal year.

Insider Transactions at DoorDash

In related news, CEO Tony Xu sold 81,249 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $147.87, for a total value of $12,014,289.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ravi Inukonda sold 7,000 shares of DoorDash stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $127.86, for a total value of $895,020.00. Following the sale, the chief financial officer now directly owns 396,152 shares in the company, valued at approximately $50,651,994.72. The trade was a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 324,539 shares of company stock worth $46,439,330. 7.92% of the stock is currently owned by insiders.

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.