Advisors Asset Management Inc. raised its stake in DoorDash, Inc. (NYSE:DASH – Get Rating) by 15.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,088 shares of the company’s stock after purchasing an additional 282 shares during the quarter. Advisors Asset Management Inc.’s holdings in DoorDash were worth $134,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in DASH. IndexIQ Advisors LLC acquired a new position in shares of DoorDash in the 1st quarter valued at $32,000. SCHRODERS IS Ltd acquired a new position in shares of DoorDash in the 2nd quarter valued at $57,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of DoorDash by 22.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 988 shares of the company’s stock valued at $63,000 after purchasing an additional 179 shares during the last quarter. National Bank of Canada FI lifted its holdings in shares of DoorDash by 114.5% during the 2nd quarter. National Bank of Canada FI now owns 1,139 shares of the company’s stock valued at $73,000 after acquiring an additional 608 shares in the last quarter. Finally, Aaron Wealth Advisors LLC acquired a new position in shares of DoorDash during the 1st quarter valued at $104,000. Institutional investors and hedge funds own 80.51% of the company’s stock.
Analyst Upgrades and Downgrades
DASH has been the topic of several recent research reports. Barclays reduced their target price on shares of DoorDash from $90.00 to $60.00 in a report on Sunday, November 6th. Citigroup dropped their price target on shares of DoorDash from $129.00 to $100.00 in a research note on Friday, November 4th. The Goldman Sachs Group dropped their price target on shares of DoorDash from $84.00 to $69.00 and set a “neutral” rating on the stock in a research note on Monday, November 7th. Royal Bank of Canada dropped their target price on shares of DoorDash from $100.00 to $70.00 and set an “outperform” rating for the company in a research report on Friday, November 4th. Finally, Truist Financial dropped their target price on shares of DoorDash from $185.00 to $101.00 and set a “buy” rating for the company in a research report on Monday, October 24th. Nine investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, DoorDash presently has a consensus rating of “Moderate Buy” and a consensus price target of $109.30.
Insider Buying and Selling at DoorDash
DoorDash Stock Down 5.2 %
DoorDash stock opened at $55.27 on Tuesday. The firm has a 50-day moving average price of $52.36 and a two-hundred day moving average price of $63.00. The firm has a market capitalization of $21.46 billion, a price-to-earnings ratio of -22.84 and a beta of 1.04. DoorDash, Inc. has a 52-week low of $41.37 and a 52-week high of $217.95.
DoorDash (NYSE:DASH – Get Rating) last posted its earnings results on Thursday, November 3rd. The company reported ($0.77) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.17). The firm had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.64 billion. DoorDash had a negative net margin of 14.51% and a negative return on equity of 14.94%. Research analysts expect that DoorDash, Inc. will post -2.62 earnings per share for the current year.
DoorDash, Inc operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash marketplace, which provides an array of services that enable merchants to solve mission-critical challenges, such as customer acquisition, delivery, insights and analytics, merchandising, payment processing, and customer support; and offers DoorDash Drive, a white-label logistics service; DoorDash Storefront that enables merchants to offer consumers on-demand access to e-commerce.
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