Westpac Banking Corp Has $2.36 Million Stock Holdings in DoorDash, Inc. $DASH

Westpac Banking Corp grew its holdings in DoorDash, Inc. (NASDAQ:DASH) by 111.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,704 shares of the company’s stock after purchasing an additional 8,294 shares during the period. Westpac Banking Corp’s holdings in DoorDash were worth $2,358,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of DASH. Brighton Jones LLC raised its position in DoorDash by 24.0% during the fourth quarter. Brighton Jones LLC now owns 9,336 shares of the company’s stock worth $1,566,000 after acquiring an additional 1,807 shares in the last quarter. Integrated Wealth Concepts LLC lifted its holdings in shares of DoorDash by 21.5% during the first quarter. Integrated Wealth Concepts LLC now owns 1,715 shares of the company’s stock worth $314,000 after buying an additional 303 shares in the last quarter. Empowered Funds LLC raised its stake in DoorDash by 3.6% in the 1st quarter. Empowered Funds LLC now owns 8,130 shares of the company’s stock worth $1,486,000 after purchasing an additional 285 shares in the last quarter. Sivia Capital Partners LLC raised its position in shares of DoorDash by 92.9% in the second quarter. Sivia Capital Partners LLC now owns 4,255 shares of the company’s stock valued at $1,049,000 after buying an additional 2,049 shares in the last quarter. Finally, Baird Financial Group Inc. bought a new stake in shares of DoorDash during the 2nd quarter valued at $222,000. Institutional investors own 90.64% of the company’s stock.

Insider Buying and Selling at DoorDash

In other news, COO Prabir Adarkar sold 21,739 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $155.25, for a total value of $3,374,979.75. Following the transaction, the chief operating officer owned 959,076 shares in the company, valued at $148,896,549. The trade was a 2.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Tia Sherringham sold 2,743 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $160.79, for a total value of $441,046.97. Following the completion of the transaction, the general counsel directly owned 128,216 shares in the company, valued at approximately $20,615,850.64. This represents a 2.09% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 74,927 shares of company stock worth $13,241,532. 5.83% of the stock is currently owned by insiders.

DoorDash Price Performance

Shares of NASDAQ:DASH opened at $177.73 on Thursday. DoorDash, Inc. has a twelve month low of $143.30 and a twelve month high of $285.50. The firm has a market capitalization of $77.44 billion, a price-to-earnings ratio of 84.63 and a beta of 1.78. The stock’s 50 day moving average is $171.62 and its 200-day moving average is $176.41. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.27.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. The firm had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $4.15 billion. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The business’s revenue was up 33.1% on a year-over-year basis. During the same period last year, the company earned $0.44 earnings per share. Sell-side analysts forecast that DoorDash, Inc. will post 2.39 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on DASH shares. Guggenheim reaffirmed a “buy” rating and set a $255.00 price target on shares of DoorDash in a report on Tuesday, June 23rd. Argus set a $190.00 price target on shares of DoorDash in a report on Thursday, June 11th. Weiss Ratings raised DoorDash from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. The Goldman Sachs Group set a $280.00 target price on DoorDash in a research report on Thursday, May 7th. Finally, Rothschild & Co Redburn set a $350.00 price target on shares of DoorDash in a report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, DoorDash has a consensus rating of “Moderate Buy” and an average target price of $252.89.

DoorDash Company Profile

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.