DoorDash, Inc. (NASDAQ:DASH) Shares Acquired by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC raised its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 1.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 750,119 shares of the company’s stock after buying an additional 8,195 shares during the period. Lord Abbett & CO. LLC owned approximately 0.18% of DoorDash worth $107,064,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Baillie Gifford & Co. boosted its holdings in shares of DoorDash by 13.2% in the third quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock valued at $2,018,584,000 after acquiring an additional 1,645,186 shares in the last quarter. State Street Corp lifted its position in DoorDash by 3.8% in the third quarter. State Street Corp now owns 7,395,891 shares of the company’s stock worth $1,055,616,000 after purchasing an additional 272,659 shares during the period. Janus Henderson Group PLC boosted its stake in DoorDash by 14.5% during the 3rd quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock valued at $789,766,000 after purchasing an additional 700,465 shares in the last quarter. Geode Capital Management LLC increased its position in shares of DoorDash by 6.4% during the 3rd quarter. Geode Capital Management LLC now owns 4,472,154 shares of the company’s stock valued at $636,652,000 after purchasing an additional 267,855 shares during the period. Finally, Franklin Resources Inc. increased its position in shares of DoorDash by 15.2% during the 3rd quarter. Franklin Resources Inc. now owns 3,800,396 shares of the company’s stock valued at $570,135,000 after purchasing an additional 501,905 shares during the period. Institutional investors and hedge funds own 90.64% of the company’s stock.

Analysts Set New Price Targets

DASH has been the subject of several research analyst reports. Oppenheimer upped their price objective on DoorDash from $145.00 to $160.00 and gave the company an “outperform” rating in a report on Friday, September 27th. Cantor Fitzgerald reissued an “overweight” rating and issued a $160.00 price target on shares of DoorDash in a report on Monday, October 7th. BMO Capital Markets lifted their price objective on shares of DoorDash from $140.00 to $180.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Raymond James began coverage on shares of DoorDash in a report on Tuesday, September 24th. They issued an “outperform” rating and a $155.00 target price on the stock. Finally, Royal Bank of Canada raised their target price on shares of DoorDash from $175.00 to $215.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Ten investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $167.27.

DoorDash Stock Performance

Shares of NASDAQ DASH opened at $175.09 on Friday. The business has a 50 day simple moving average of $164.81 and a 200 day simple moving average of $135.41. DoorDash, Inc. has a 52 week low of $93.33 and a 52 week high of $181.30. The stock has a market cap of $72.73 billion, a price-to-earnings ratio of -389.09, a PEG ratio of 13.56 and a beta of 1.70.

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

Insider Buying and Selling

In other news, insider Keith Yandell sold 4,474 shares of DoorDash stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $177.36, for a total value of $793,508.64. Following the transaction, the insider now owns 114,238 shares of the company’s stock, valued at $20,261,251.68. This trade represents a 3.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Stanley Tang sold 1,855 shares of the company’s stock in a transaction on 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 directly owns 35,413 shares of the company’s stock, valued at approximately $6,019,501.74. This represents a 4.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 793,196 shares of company stock worth $131,015,818. Corporate insiders own 7.92% of the company’s stock.

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.