Truist Financial Corp Boosts Holdings in DoorDash, Inc. $DASH

Truist Financial Corp lifted its stake in DoorDash, Inc. (NASDAQ:DASH) by 91.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,867 shares of the company’s stock after purchasing an additional 8,047 shares during the period. Truist Financial Corp’s holdings in DoorDash were worth $4,158,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in DoorDash by 25.8% in the first quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company’s stock worth $7,200,642,000 after buying an additional 8,073,882 shares during the period. AQR Capital Management LLC lifted its stake in shares of DoorDash by 442.5% in the 1st quarter. AQR Capital Management LLC now owns 1,836,122 shares of the company’s stock valued at $321,799,000 after purchasing an additional 1,497,636 shares during the period. Invesco Ltd. lifted its stake in shares of DoorDash by 41.9% in the 1st quarter. Invesco Ltd. now owns 4,799,851 shares of the company’s stock valued at $877,269,000 after purchasing an additional 1,416,194 shares during the period. Nuveen LLC purchased a new position in DoorDash during the first quarter valued at $211,415,000. Finally, Deutsche Bank AG lifted its position in DoorDash by 111.3% during the first quarter. Deutsche Bank AG now owns 2,009,699 shares of the company’s stock valued at $367,313,000 after buying an additional 1,058,731 shares during the period. 90.64% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DASH. Raymond James Financial reissued a “strong-buy” rating and set a $325.00 price target (up from $275.00) on shares of DoorDash in a research report on Thursday, August 7th. Citigroup reissued an “outperform” rating on shares of DoorDash in a research report on Thursday, August 7th. Piper Sandler lifted their target price on shares of DoorDash from $210.00 to $290.00 and gave the company a “neutral” rating in a report on Thursday, August 7th. Cantor Fitzgerald reiterated an “overweight” rating and set a $330.00 target price on shares of DoorDash in a report on Wednesday, September 17th. Finally, BMO Capital Markets lifted their price objective on DoorDash from $238.00 to $288.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Two analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and fourteen have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $275.27.

Insider Activity

In other DoorDash news, CEO Tony Xu sold 34,166 shares of the firm’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $268.24, for a total transaction of $9,164,687.84. Following the sale, the chief executive officer directly owned 520,450 shares of the company’s stock, valued at $139,605,508. This trade represents a 6.16% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Shona L. Brown sold 825 shares of the firm’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $280.00, for a total value of $231,000.00. Following the sale, the director directly owned 38,502 shares in the company, valued at approximately $10,780,560. This represents a 2.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,001,054 shares of company stock worth $249,511,188. 5.83% of the stock is currently owned by insiders.

DoorDash Stock Up 1.5%

Shares of DASH stock opened at $281.05 on Thursday. The company has a 50 day simple moving average of $257.55 and a two-hundred day simple moving average of $225.75. The stock has a market cap of $120.06 billion, a P/E ratio of 156.14 and a beta of 1.71. DoorDash, Inc. has a 12 month low of $141.76 and a 12 month high of $285.08. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.30.

DoorDash (NASDAQ:DASH) last released its earnings results on Wednesday, August 6th. The company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.23. DoorDash had a return on equity of 9.56% and a net margin of 6.57%.The company had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.16 billion. During the same period in the previous year, the business earned ($0.38) earnings per share. DoorDash’s quarterly revenue was up 24.9% compared to the same quarter last year. On average, research analysts expect that DoorDash, Inc. will post 2.22 earnings per share for the current year.

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.