Russell Investments Group Ltd. Grows Stake in DoorDash, Inc. (NASDAQ:DASH)

Russell Investments Group Ltd. raised its stake in DoorDash, Inc. (NASDAQ:DASH) by 8.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 319,834 shares of the company’s stock after acquiring an additional 24,829 shares during the period. Russell Investments Group Ltd. owned approximately 0.08% of DoorDash worth $31,706,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. AlpInvest Partners B.V. grew its stake in shares of DoorDash by 13.7% in the fourth quarter. AlpInvest Partners B.V. now owns 270,941 shares of the company’s stock worth $26,793,000 after acquiring an additional 32,639 shares during the last quarter. Truist Financial Corp purchased a new stake in shares of DoorDash in the fourth quarter worth $405,000. Motley Fool Asset Management LLC purchased a new stake in shares of DoorDash in the fourth quarter worth $1,056,000. Lyell Wealth Management LP grew its stake in shares of DoorDash by 5.0% in the fourth quarter. Lyell Wealth Management LP now owns 37,196 shares of the company’s stock worth $3,678,000 after acquiring an additional 1,757 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd grew its stake in shares of DoorDash by 502.4% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 5,548 shares of the company’s stock worth $544,000 after acquiring an additional 4,627 shares during the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DASH. BMO Capital Markets upped their price target on DoorDash from $120.00 to $138.00 and gave the company an “outperform” rating in a report on Friday, February 16th. Morgan Stanley raised DoorDash from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $135.00 to $145.00 in a report on Thursday, February 22nd. Benchmark began coverage on DoorDash in a report on Thursday, April 4th. They set a “buy” rating and a $165.00 price target on the stock. UBS Group lowered their price target on DoorDash from $123.00 to $118.00 and set a “neutral” rating on the stock in a report on Friday, February 16th. Finally, Loop Capital began coverage on DoorDash in a report on Friday, April 19th. They set a “buy” rating and a $170.00 price target on the stock. Nine equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, DoorDash presently has an average rating of “Moderate Buy” and a consensus price target of $130.92.

DoorDash Stock Down 2.2 %

NASDAQ DASH opened at $129.26 on Wednesday. The stock’s 50-day moving average price is $131.63 and its 200-day moving average price is $109.34. DoorDash, Inc. has a 52 week low of $60.36 and a 52 week high of $143.34. The company has a market capitalization of $52.22 billion, a P/E ratio of -90.39, a price-to-earnings-growth ratio of 14.70 and a beta of 1.79.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Thursday, February 15th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.24). DoorDash had a negative return on equity of 8.49% and a negative net margin of 6.46%. The company had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.25 billion. During the same period last year, the business earned ($0.63) EPS. The firm’s quarterly revenue was up 26.7% compared to the same quarter last year. Research analysts anticipate that DoorDash, Inc. will post 0.21 EPS for the current year.

Insider Buying and Selling

In related news, CEO Tony Xu sold 132,300 shares of the stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $133.51, for a total transaction of $17,663,373.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Andy Fang sold 67,000 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $110.57, for a total transaction of $7,408,190.00. Following the completion of the sale, the director now owns 40,969 shares in the company, valued at $4,529,942.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Tony Xu sold 132,300 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $133.51, for a total value of $17,663,373.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 492,282 shares of company stock worth $64,336,392. 9.59% of the stock is owned by corporate insiders.

About DoorDash

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.