PGGM Investments Invests $1.90 Million in DoorDash, Inc. (NASDAQ:DASH)

PGGM Investments purchased a new position in shares of DoorDash, Inc. (NASDAQ:DASH) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 13,804 shares of the company’s stock, valued at approximately $1,901,000.

Several other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of DoorDash by 8.4% in the fourth quarter. Vanguard Group Inc. now owns 29,303,496 shares of the company’s stock valued at $2,897,823,000 after buying an additional 2,259,976 shares during the last quarter. Baillie Gifford & Co. lifted its position in shares of DoorDash by 6.4% during the fourth quarter. Baillie Gifford & Co. now owns 12,775,622 shares of the company’s stock worth $1,263,381,000 after purchasing an additional 772,977 shares in the last quarter. Capital World Investors raised its position in DoorDash by 0.8% in the 1st quarter. Capital World Investors now owns 9,470,247 shares of the company’s stock worth $1,304,242,000 after purchasing an additional 74,504 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in DoorDash by 4.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,469,647 shares of the company’s stock worth $753,281,000 after purchasing an additional 242,956 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in DoorDash by 11,416.7% during the 1st 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 in the last quarter. Institutional investors own 90.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. JMP Securities boosted their target price on DoorDash from $140.00 to $145.00 and gave the stock a “market outperform” rating in a research report on Friday. Morgan Stanley boosted their price objective on DoorDash from $145.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday. Piper Sandler reaffirmed a “neutral” rating and issued a $125.00 target price (up previously from $115.00) on shares of DoorDash in a research note on Friday. Royal Bank of Canada dropped their price target on shares of DoorDash from $175.00 to $165.00 and set an “outperform” rating for the company in a research note on Thursday, May 2nd. Finally, Oppenheimer raised their price objective on shares of DoorDash from $125.00 to $145.00 and gave the company an “outperform” rating in a research note on Friday. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $142.38.

Insider Buying and Selling at DoorDash

In other news, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $113.40, for a total transaction of $5,670,000.00. Following the transaction, the director now directly owns 39,275 shares in the company, valued at approximately $4,453,785. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $113.40, for a total transaction of $5,670,000.00. Following the completion of the transaction, the director now directly owns 39,275 shares in the company, valued at approximately $4,453,785. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Keith Yandell sold 12,088 shares of the stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $111.84, for a total value of $1,351,921.92. Following the completion of the sale, the insider now owns 161,651 shares in the company, valued at approximately $18,079,047.84. The disclosure for this sale can be found here. Insiders sold a total of 459,016 shares of company stock worth $50,325,396 over the last quarter. 7.92% of the stock is currently owned by insiders.

DoorDash Stock Up 8.3 %

DASH traded up $9.03 during trading hours on Friday, hitting $117.23. 12,666,595 shares of the company’s stock were exchanged, compared to its average volume of 4,409,081. The stock has a market cap of $47.94 billion, a price-to-earnings ratio of -108.55, a PEG ratio of 40.25 and a beta of 1.67. DoorDash, Inc. has a 1-year low of $69.90 and a 1-year high of $143.34. The stock’s 50-day moving average is $109.35 and its two-hundred day moving average is $118.25.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.28). DoorDash had a negative return on equity of 6.00% and a negative net margin of 4.24%. The business had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.54 billion. During the same quarter in the prior year, the company earned ($0.44) earnings per share. The company’s quarterly revenue was up 23.3% on a year-over-year basis. On average, equities research analysts anticipate that DoorDash, Inc. will post 0.07 EPS for the current year.

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.