Donoghue Forlines LLC Raises Stake in DoorDash, Inc. (NASDAQ:DASH)

Donoghue Forlines LLC increased its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 168.0% during the 4th quarter, HoldingsChannel reports. The fund owned 12,110 shares of the company’s stock after buying an additional 7,591 shares during the period. Donoghue Forlines LLC’s holdings in DoorDash were worth $2,031,000 as of its most recent SEC filing.

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

DoorDash Stock Performance

DASH opened at $177.39 on Thursday. The stock has a market capitalization of $73.69 billion, a price-to-earnings ratio of -392.79, a PEG ratio of 1.88 and a beta of 1.71. DoorDash, Inc. has a fifty-two week low of $99.32 and a fifty-two week high of $181.78. The company has a fifty day moving average of $173.66 and a 200 day moving average of $147.42.

DoorDash (NASDAQ:DASH) last issued its earnings results 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. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The firm had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same period in the previous year, the firm posted ($0.19) earnings per share. The business’s revenue was up 25.0% compared to the same quarter last year. On average, equities research analysts forecast that DoorDash, Inc. will post 0.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on DASH. Morgan Stanley upped their price objective on DoorDash from $160.00 to $200.00 and gave the company an “overweight” rating in a research report on Monday, January 13th. KeyCorp increased their price objective on DoorDash from $180.00 to $225.00 and gave the company an “overweight” rating in a research report on Thursday, January 9th. Benchmark boosted their target price on DoorDash from $152.00 to $173.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. DA Davidson raised their price target on shares of DoorDash from $119.00 to $150.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Piper Sandler increased their price objective on shares of DoorDash from $125.00 to $160.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Nine equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $176.97.

Insiders Place Their Bets

In related news, CEO Tony Xu sold 115,432 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $177.01, for a total value of $20,432,618.32. Following the completion of the transaction, the chief executive officer now owns 1,500 shares of the company’s stock, valued at approximately $265,515. This trade represents a 98.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $168.32, for a total value of $8,416,000.00. Following the sale, the director now directly owns 16,176 shares in the company, valued at $2,722,744.32. The trade was a 75.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,019,333 shares of company stock valued at $177,556,541 in the last quarter. 7.92% of the stock is currently owned by insiders.

DoorDash 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.