Assenagon Asset Management S.A. Raises Stock Position in DoorDash, Inc. (NASDAQ:DASH)

Assenagon Asset Management S.A. lifted its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 422.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 202,340 shares of the company’s stock after acquiring an additional 163,597 shares during the quarter. Assenagon Asset Management S.A.’s holdings in DoorDash were worth $33,943,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Rakuten Securities Inc. boosted its position in DoorDash by 302.3% during the third quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $25,000 after purchasing an additional 130 shares in the last quarter. ORG Wealth Partners LLC acquired a new position in shares of DoorDash during the 4th quarter worth $36,000. Quest Partners LLC boosted its position in shares of DoorDash by 146.8% in the 2nd quarter. Quest Partners LLC now owns 343 shares of the company’s stock worth $37,000 after buying an additional 204 shares in the last quarter. Hollencrest Capital Management acquired a new stake in DoorDash in the 3rd quarter valued at about $54,000. Finally, Venturi Wealth Management LLC increased its holdings in DoorDash by 39.0% during the 3rd quarter. Venturi Wealth Management LLC now owns 424 shares of the company’s stock valued at $61,000 after acquiring an additional 119 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Trading Down 0.2 %

Shares of DASH stock opened at $170.85 on Friday. The firm has a fifty day simple moving average of $173.54 and a 200-day simple moving average of $145.09. The company has a market capitalization of $70.97 billion, a PE ratio of -379.67, a price-to-earnings-growth ratio of 1.77 and a beta of 1.71. DoorDash, Inc. has a twelve month low of $99.32 and a twelve month high of $181.78.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.17. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The company had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same period last year, the firm earned ($0.19) earnings per share. The company’s revenue was up 25.0% on a year-over-year basis. Equities research analysts predict that DoorDash, Inc. will post 0.26 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on DASH shares. Bank of America increased their price target on shares of DoorDash from $168.00 to $172.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Loop Capital increased their target price on DoorDash from $170.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Argus raised DoorDash from a “hold” rating to a “buy” rating in a report on Friday, December 20th. Raymond James began coverage on DoorDash in a research note on Tuesday, September 24th. They set an “outperform” rating and a $155.00 price objective on the stock. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 target price on shares of DoorDash in a research note on Monday, October 7th. Nine equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $175.97.

Insiders Place Their Bets

In related news, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $172.67, for a total value of $8,633,500.00. Following the completion of the sale, the director now directly owns 18,089 shares of the company’s stock, valued at $3,123,427.63. The trade was a 73.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Tony Xu sold 115,432 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $177.01, for a total value of $20,432,618.32. Following the transaction, the chief executive officer now directly owns 1,500 shares in the company, valued at approximately $265,515. This represents a 98.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,019,333 shares of company stock worth $177,556,541 in the last three months. 7.92% of the stock is 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.