abrdn plc Raises Position in DoorDash, Inc. (NASDAQ:DASH)

abrdn plc lifted its stake in DoorDash, Inc. (NASDAQ:DASH) by 63.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,389 shares of the company’s stock after purchasing an additional 28,127 shares during the period. abrdn plc’s holdings in DoorDash were worth $10,332,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Meeder Asset Management Inc. increased its position in DoorDash by 82.0% in the second quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock worth $32,000 after buying an additional 132 shares in the last quarter. Headlands Technologies LLC purchased a new stake in DoorDash in the 2nd quarter worth approximately $32,000. Versant Capital Management Inc raised its stake in DoorDash by 340.8% during the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock worth $36,000 after acquiring an additional 259 shares during the period. ORG Partners LLC raised its stake in DoorDash by 2,108.3% during the 1st quarter. ORG Partners LLC now owns 265 shares of the company’s stock worth $37,000 after acquiring an additional 253 shares during the period. Finally, Quest Partners LLC lifted its holdings in DoorDash by 146.8% during the second quarter. Quest Partners LLC now owns 343 shares of the company’s stock valued at $37,000 after purchasing an additional 204 shares in the last quarter. 90.64% of the stock is owned by institutional investors.

DoorDash Stock Performance

DASH opened at $155.66 on Friday. The stock’s 50 day moving average price is $140.40 and its 200-day moving average price is $124.21. DoorDash, Inc. has a one year low of $83.58 and a one year high of $165.07. The stock has a market cap of $64.06 billion, a price-to-earnings ratio of -345.91, a P/E/G ratio of 331.02 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.17. DoorDash had a negative return on equity of 2.46% and a negative net margin of 1.69%. The company had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the previous year, the business earned ($0.19) EPS. DoorDash’s revenue was up 25.0% compared to the same quarter last year. As a group, analysts predict that DoorDash, Inc. will post 0.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on DASH. Wells Fargo & Company raised their price objective on shares of DoorDash from $127.00 to $142.00 and gave the company an “equal weight” rating in a research report on Friday, October 4th. Argus began coverage on DoorDash in a research report on Tuesday, July 23rd. They issued a “hold” rating on the stock. Susquehanna increased their target price on DoorDash from $140.00 to $180.00 and gave the stock a “positive” rating in a research report on Friday. UBS Group lifted their target price on DoorDash from $143.00 to $160.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, DA Davidson upped their price target on DoorDash from $119.00 to $150.00 and gave the stock a “neutral” rating in a research note on Thursday. Ten research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat, DoorDash presently has an average rating of “Moderate Buy” and a consensus price target of $163.12.

Insider Buying and Selling

In other DoorDash news, CEO Tony Xu sold 81,249 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $147.87, for a total value of $12,014,289.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other DoorDash news, CEO Tony Xu sold 81,249 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $147.87, for a total transaction of $12,014,289.63. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Shona L. Brown sold 5,005 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $120.00, for a total value of $600,600.00. Following the completion of the sale, the director now owns 65,186 shares of the company’s stock, valued at $7,822,320. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 383,710 shares of company stock valued at $53,725,640 in the last 90 days. Company insiders own 7.92% of the company’s stock.

DoorDash Profile

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.