Great West Life Assurance Co. Can Takes $3.43 Million Position in DoorDash, Inc. (NYSE:DASH)

Great West Life Assurance Co. Can acquired a new stake in DoorDash, Inc. (NYSE:DASHGet Rating) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 69,326 shares of the company’s stock, valued at approximately $3,425,000.

A number of other institutional investors have also modified their holdings of DASH. Wipfli Financial Advisors LLC acquired a new stake in shares of DoorDash in the third quarter valued at $25,000. Sentry Investment Management LLC acquired a new position in DoorDash during the 3rd quarter worth $33,000. Alpha Paradigm Partners LLC acquired a new position in DoorDash during the 2nd quarter worth $45,000. SCHRODERS IS Ltd acquired a new position in DoorDash during the 2nd quarter worth $57,000. Finally, Northwestern Mutual Wealth Management Co. grew its stake in DoorDash by 22.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 988 shares of the company’s stock worth $63,000 after purchasing an additional 179 shares in the last quarter. 72.65% of the stock is owned by institutional investors and hedge funds.

DoorDash Stock Performance

DoorDash stock opened at $60.59 on Tuesday. The stock has a 50-day simple moving average of $53.60 and a 200-day simple moving average of $58.11. The company has a market capitalization of $23.52 billion, a P/E ratio of -25.04 and a beta of 1.35. DoorDash, Inc. has a fifty-two week low of $41.37 and a fifty-two week high of $130.20.

DoorDash (NYSE:DASHGet Rating) last posted its quarterly earnings data on Thursday, November 3rd. The company reported ($0.77) EPS for the quarter, missing the consensus estimate of ($0.60) by ($0.17). The company had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.64 billion. DoorDash had a negative net margin of 14.51% and a negative return on equity of 14.94%. As a group, analysts forecast that DoorDash, Inc. will post -2.69 earnings per share for the current year.

Insider Buying and Selling at DoorDash

In other DoorDash news, COO Christopher D. Payne sold 47,093 shares of the company’s stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $53.43, for a total transaction of $2,516,178.99. Following the completion of the sale, the chief operating officer now directly owns 370,890 shares of the company’s stock, valued at approximately $19,816,652.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other DoorDash news, Director Shona L. Brown sold 1,250 shares of the business’s stock in a transaction that occurred on Friday, January 6th. The stock was sold at an average price of $47.32, for a total transaction of $59,150.00. Following the transaction, the director now owns 82,278 shares in the company, valued at approximately $3,893,394.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Christopher D. Payne sold 47,093 shares of the business’s stock in a transaction that occurred on Wednesday, November 9th. The stock was sold at an average price of $53.43, for a total value of $2,516,178.99. Following the transaction, the chief operating officer now owns 370,890 shares in the company, valued at approximately $19,816,652.70. The disclosure for this sale can be found here. Insiders sold a total of 146,605 shares of company stock valued at $7,622,620 in the last ninety days. Insiders own 12.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on DASH shares. Truist Financial lowered their target price on DoorDash from $185.00 to $101.00 and set a “buy” rating for the company in a research note on Monday, October 24th. Citigroup lowered their target price on DoorDash from $129.00 to $100.00 in a research note on Friday, November 4th. Royal Bank of Canada cut DoorDash from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $70.00 to $60.00 in a research note on Friday, December 2nd. Piper Sandler downgraded DoorDash from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $227.00 to $40.00 in a report on Monday, January 9th. Finally, Needham & Company LLC decreased their price target on DoorDash from $115.00 to $80.00 and set a “buy” rating for the company in a report on Friday, November 4th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, DoorDash has an average rating of “Moderate Buy” and a consensus price target of $90.33.

DoorDash Company Profile

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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.

Further Reading

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Institutional Ownership by Quarter for DoorDash (NYSE:DASH)

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