KBC Group NV Grows Stock Holdings in DoorDash, Inc. (NASDAQ:DASH)

KBC Group NV grew its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 23.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 50,492 shares of the company’s stock after purchasing an additional 9,454 shares during the quarter. KBC Group NV’s holdings in DoorDash were worth $8,470,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Asset Management One Co. Ltd. lifted its position in DoorDash by 10.6% during the third quarter. Asset Management One Co. Ltd. now owns 112,181 shares of the company’s stock worth $16,012,000 after buying an additional 10,755 shares during the period. Forsta AP Fonden increased its stake in shares of DoorDash by 18.6% during the 3rd quarter. Forsta AP Fonden now owns 64,500 shares of the company’s stock valued at $9,206,000 after acquiring an additional 10,100 shares during the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of DoorDash by 48.8% during the 3rd quarter. Sanctuary Advisors LLC now owns 10,663 shares of the company’s stock worth $1,522,000 after acquiring an additional 3,498 shares during the period. Baillie Gifford & Co. boosted its position 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 worth $2,018,584,000 after acquiring an additional 1,645,186 shares during the last quarter. Finally, CWM LLC grew its holdings in DoorDash by 97.1% in the third quarter. CWM LLC now owns 10,705 shares of the company’s stock valued at $1,528,000 after purchasing an additional 5,273 shares during the period. Institutional investors and hedge funds own 90.64% of the company’s stock.

Insider Activity at DoorDash

In related news, insider Keith Yandell sold 7,980 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $169.98, for a total value of $1,356,440.40. Following the sale, the insider now directly owns 124,221 shares in the company, valued at $21,115,085.58. This trade represents a 6.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ravi Inukonda sold 1,425 shares of the business’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $183.20, for a total value of $261,060.00. Following the transaction, the chief financial officer now owns 366,993 shares of the company’s stock, valued at $67,233,117.60. This trade represents a 0.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,040,758 shares of company stock worth $181,434,201 in the last 90 days. 7.92% of the stock is currently owned by company insiders.

DoorDash Stock Performance

DoorDash stock opened at $185.78 on Thursday. DoorDash, Inc. has a 1 year low of $99.32 and a 1 year high of $186.79. The firm’s 50-day moving average is $174.76 and its 200-day moving average is $150.11. The company has a market cap of $77.17 billion, a P/E ratio of -412.84, a PEG ratio of 1.85 and a beta of 1.71.

DoorDash (NASDAQ:DASH) last issued its earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 2.41% and a negative net margin of 1.69%. DoorDash’s quarterly revenue 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. As a group, sell-side analysts predict that DoorDash, Inc. will post 0.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on DASH. UBS Group increased their price target on shares of DoorDash from $143.00 to $160.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Jefferies Financial Group lifted their target price on DoorDash from $155.00 to $180.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Truist Financial upped their price target on DoorDash from $180.00 to $217.00 and gave the stock a “buy” rating in a research note on Tuesday, December 17th. Bank of America lifted their price objective on DoorDash from $172.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, January 23rd. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 target price on shares of DoorDash in a research report on Tuesday. Nine analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $178.18.

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.