Allspring Global Investments Holdings LLC Sells 22,099 Shares of DoorDash, Inc. $DASH

Allspring Global Investments Holdings LLC reduced its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 968,777 shares of the company’s stock after selling 22,099 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.22% of DoorDash worth $212,927,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in DoorDash by 3.7% in the third quarter. Vanguard Group Inc. now owns 42,712,908 shares of the company’s stock valued at $11,617,484,000 after purchasing an additional 1,522,823 shares during the last quarter. State Street Corp grew its position in DoorDash by 6.3% during the third quarter. State Street Corp now owns 15,296,624 shares of the company’s stock worth $4,160,529,000 after buying an additional 909,125 shares in the last quarter. Capital World Investors increased its stake in DoorDash by 0.9% in the 3rd quarter. Capital World Investors now owns 10,865,927 shares of the company’s stock worth $2,955,424,000 after acquiring an additional 95,278 shares during the last quarter. Invesco Ltd. increased its stake in DoorDash by 18.2% in the 3rd quarter. Invesco Ltd. now owns 6,355,628 shares of the company’s stock worth $1,728,667,000 after acquiring an additional 980,148 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of DoorDash by 3.0% in the 3rd quarter. Northern Trust Corp now owns 3,348,168 shares of the company’s stock valued at $910,668,000 after acquiring an additional 96,012 shares in the last quarter. 90.64% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

DASH has been the subject of several research analyst reports. Citizens Jmp dropped their target price on shares of DoorDash from $285.00 to $250.00 and set a “market outperform” rating for the company in a research report on Friday, February 20th. Wells Fargo & Company lowered their price objective on shares of DoorDash from $221.00 to $198.00 and set an “equal weight” rating on the stock in a research report on Monday. Mizuho dropped their price objective on shares of DoorDash from $320.00 to $255.00 and set an “outperform” rating for the company in a report on Tuesday, March 3rd. BMO Capital Markets reiterated an “outperform” rating on shares of DoorDash in a research report on Friday, December 12th. Finally, Wedbush increased their target price on DoorDash from $260.00 to $270.00 and gave the company an “outperform” rating in a research note on Friday, December 19th. One research analyst has rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $263.12.

DoorDash Price Performance

Shares of NASDAQ:DASH opened at $148.01 on Tuesday. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.27. The stock has a market cap of $64.30 billion, a PE ratio of 69.82 and a beta of 1.82. The company’s fifty day moving average is $177.50 and its 200 day moving average is $215.38. DoorDash, Inc. has a 52 week low of $143.30 and a 52 week high of $285.50.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings results on Wednesday, February 18th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.10). The business had revenue of $3.96 billion for the quarter, compared to analysts’ expectations of $3.98 billion. DoorDash had a net margin of 6.82% and a return on equity of 10.15%. The business’s quarterly revenue was up 37.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.33 earnings per share. Research analysts anticipate that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Insider Activity at DoorDash

In related news, COO Prabir Adarkar sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, March 23rd. The stock was sold at an average price of $158.97, for a total transaction of $1,589,700.00. Following the transaction, the chief operating officer directly owned 843,678 shares in the company, valued at $134,119,491.66. This trade represents a 1.17% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ravi Inukonda sold 1,017 shares of DoorDash stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $215.14, for a total value of $218,797.38. Following the completion of the transaction, the chief financial officer directly owned 208,412 shares in the company, valued at $44,837,757.68. This trade represents a 0.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 167,317 shares of company stock worth $35,720,931 over the last three months. Corporate insiders own 5.83% of the company’s stock.

About DoorDash

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.