Geode Capital Management LLC Boosts Holdings in DoorDash, Inc. (NASDAQ:DASH)

Geode Capital Management LLC boosted its stake in DoorDash, Inc. (NASDAQ:DASH) by 6.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,472,154 shares of the company’s stock after buying an additional 267,855 shares during the quarter. Geode Capital Management LLC’s holdings in DoorDash were worth $636,652,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC raised its position in shares of DoorDash by 0.8% in the second quarter. Brighton Jones LLC now owns 10,317 shares of the company’s stock valued at $1,122,000 after buying an additional 82 shares during the last quarter. Everhart Financial Group Inc. grew its stake in DoorDash by 3.1% during the 2nd quarter. Everhart Financial Group Inc. now owns 3,267 shares of the company’s stock valued at $355,000 after acquiring an additional 99 shares in the last quarter. E Fund Management Co. Ltd. raised its holdings in DoorDash by 3.5% in the 2nd quarter. E Fund Management Co. Ltd. now owns 3,263 shares of the company’s stock valued at $355,000 after acquiring an additional 111 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in DoorDash by 39.0% in the 3rd quarter. Venturi Wealth Management LLC now owns 424 shares of the company’s stock worth $61,000 after purchasing an additional 119 shares in the last quarter. Finally, Rakuten Securities Inc. lifted its stake in DoorDash by 302.3% in the 3rd 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. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Stanley Tang sold 1,855 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $169.98, for a total transaction of $315,312.90. Following the sale, the director now owns 35,413 shares of the company’s stock, valued at approximately $6,019,501.74. This trade represents a 4.98 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Tony Xu sold 115,432 shares of the business’s 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 sale, the chief executive officer now owns 1,500 shares of the company’s stock, valued at approximately $265,515. The trade was a 98.72 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 793,196 shares of company stock worth $131,015,818. 7.92% of the stock is currently owned by corporate insiders.

DoorDash Price Performance

Shares of NASDAQ DASH opened at $176.02 on Friday. The stock’s 50-day moving average is $164.21 and its two-hundred day moving average is $134.97. The company has a market cap of $73.12 billion, a price-to-earnings ratio of -391.16, a price-to-earnings-growth ratio of 14.09 and a beta of 1.70. DoorDash, Inc. has a 1-year low of $93.33 and a 1-year high of $181.30.

DoorDash (NASDAQ:DASH) last issued 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 net margin of 1.69% and a negative return on equity of 2.41%. The firm had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter last year, the company earned ($0.19) earnings per share. The firm’s revenue was up 25.0% compared to the same quarter last year. Equities research analysts anticipate that DoorDash, Inc. will post 0.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

DASH has been the subject of several recent research reports. BTIG Research raised DoorDash from a “neutral” rating to a “buy” rating and set a $155.00 price target for the company in a report on Thursday, September 19th. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 price target on shares of DoorDash in a report on Monday, October 7th. Barclays boosted their price target on shares of DoorDash from $120.00 to $163.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Jefferies Financial Group raised their price objective on shares of DoorDash from $155.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, Bank of America boosted their target price on shares of DoorDash from $168.00 to $172.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Ten analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat.com, DoorDash presently has an average rating of “Moderate Buy” and an average price target of $167.27.

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.