69,701 Shares in DoorDash, Inc. (NASDAQ:DASH) Bought by M&G Plc

M&G Plc purchased a new stake in shares of DoorDash, Inc. (NASDAQ:DASH) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 69,701 shares of the company’s stock, valued at approximately $9,967,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in DASH. Baillie Gifford & Co. boosted its stake in DoorDash by 0.8% during the 2nd quarter. Baillie Gifford & Co. now owns 12,497,488 shares of the company’s stock valued at $1,359,477,000 after purchasing an additional 94,241 shares during the period. Capital World Investors boosted its position in shares of DoorDash by 0.8% in the first quarter. Capital World Investors now owns 9,470,247 shares of the company’s stock valued at $1,304,242,000 after acquiring an additional 74,504 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of DoorDash by 4.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,469,647 shares of the company’s stock worth $753,281,000 after acquiring an additional 242,956 shares during the last quarter. Janus Henderson Group PLC increased its position in DoorDash by 11,416.7% during the first quarter. Janus Henderson Group PLC now owns 3,455,116 shares of the company’s stock worth $475,837,000 after acquiring an additional 3,425,115 shares during the period. Finally, Dragoneer Investment Group LLC raised its stake in DoorDash by 77.9% during the 2nd quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company’s stock valued at $309,755,000 after purchasing an additional 1,246,567 shares during the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Redburn Atlantic initiated coverage on shares of DoorDash in a report on Friday, July 26th. They set a “buy” rating and a $170.00 price objective on the stock. The Goldman Sachs Group boosted their price target on DoorDash from $142.00 to $161.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. raised their price objective on DoorDash from $137.00 to $155.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Wedbush restated a “neutral” rating and set a $115.00 price objective on shares of DoorDash in a research report on Friday, August 2nd. Finally, Needham & Company LLC raised their target price on DoorDash from $145.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Ten equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $163.12.

Insider Activity at DoorDash

In other DoorDash news, CEO Tony Xu sold 81,249 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $147.87, for a total transaction of $12,014,289.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Ravi Inukonda sold 7,000 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $127.86, for a total value of $895,020.00. Following the transaction, the chief financial officer now directly owns 396,152 shares in the company, valued at $50,651,994.72. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Tony Xu sold 81,249 shares of DoorDash stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $147.87, for a total value of $12,014,289.63. The disclosure for this sale can be found here. Insiders have sold a total of 324,539 shares of company stock worth $46,439,330 over the last 90 days. Insiders own 7.92% of the company’s stock.

DoorDash Trading Up 0.6 %

Shares of DASH stock opened at $170.59 on Friday. DoorDash, Inc. has a 1 year low of $83.58 and a 1 year high of $171.20. The firm’s 50 day moving average is $143.32 and its 200-day moving average is $125.15. The firm has a market capitalization of $70.20 billion, a price-to-earnings ratio of -379.09, a PEG ratio of 13.65 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.17. The firm had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.66 billion. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The business’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.19) EPS. On average, equities research analysts forecast that DoorDash, Inc. will post 0.23 earnings per share for the current fiscal 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.