Neuberger Berman Group LLC Boosts Stake in DoorDash, Inc. $DASH

Neuberger Berman Group LLC grew its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 258.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 334,922 shares of the company’s stock after acquiring an additional 241,587 shares during the quarter. Neuberger Berman Group LLC’s holdings in DoorDash were worth $82,562,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in DASH. Vanguard Group Inc. raised its position in DoorDash by 25.8% in the 1st quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company’s stock worth $7,200,642,000 after purchasing an additional 8,073,882 shares during the period. Norges Bank bought a new stake in DoorDash in the second quarter valued at approximately $1,185,576,000. AQR Capital Management LLC boosted its stake in shares of DoorDash by 442.5% during the first quarter. AQR Capital Management LLC now owns 1,836,122 shares of the company’s stock valued at $321,799,000 after purchasing an additional 1,497,636 shares during the period. Invesco Ltd. grew its holdings in shares of DoorDash by 41.9% in the first quarter. Invesco Ltd. now owns 4,799,851 shares of the company’s stock worth $877,269,000 after purchasing an additional 1,416,194 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in shares of DoorDash during the first quarter worth about $211,415,000. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Insider Activity

In related news, Director Stanley Tang sold 45,410 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $244.39, for a total value of $11,097,749.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Prabir Adarkar sold 24,489 shares of DoorDash stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $187.36, for a total transaction of $4,588,259.04. Following the sale, the chief operating officer owned 874,130 shares of the company’s stock, valued at $163,776,996.80. The trade was a 2.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 756,834 shares of company stock valued at $174,539,246. Insiders own 5.83% of the company’s stock.

Analyst Upgrades and Downgrades

DASH has been the subject of a number of research analyst reports. Bank of America dropped their price target on DoorDash from $325.00 to $305.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. JPMorgan Chase & Co. decreased their price objective on shares of DoorDash from $325.00 to $300.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. Mizuho reduced their price target on shares of DoorDash from $350.00 to $320.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 12th. Needham & Company LLC dropped their target price on shares of DoorDash from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Friday, November 14th. Finally, The Goldman Sachs Group cut their price objective on shares of DoorDash from $315.00 to $279.00 and set a “buy” rating on the stock in a report on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, DoorDash currently has a consensus rating of “Moderate Buy” and a consensus target price of $275.62.

DoorDash Price Performance

DASH stock opened at $195.98 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.04 and a current ratio of 2.04. DoorDash, Inc. has a one year low of $155.40 and a one year high of $285.50. The company’s fifty day moving average price is $243.07 and its 200-day moving average price is $238.18. The company has a market capitalization of $84.47 billion, a PE ratio of 99.48 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.55 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 6.83% and a return on equity of 9.97%. The company’s revenue for the quarter was up 27.3% on a year-over-year basis. During the same quarter last year, the company earned $0.38 earnings per share. On average, equities analysts anticipate that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

DoorDash 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.