Raymond James Trust N.A. Takes Position in DoorDash, Inc. (NASDAQ:DASH)

Raymond James Trust N.A. purchased a new stake in shares of DoorDash, Inc. (NASDAQ:DASH) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,516 shares of the company’s stock, valued at approximately $216,000.

Other hedge funds have also made changes to their positions in the company. Baillie Gifford & Co. increased its position in DoorDash by 13.2% in the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock worth $2,018,584,000 after purchasing an additional 1,645,186 shares during the last quarter. Dragoneer Investment Group LLC lifted its position in shares of DoorDash by 77.9% during the 2nd quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company’s stock worth $309,755,000 after purchasing an additional 1,246,567 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of DoorDash by 216.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,082,362 shares of the company’s stock worth $154,486,000 after buying an additional 739,961 shares during the last quarter. Jupiter Asset Management Ltd. raised its stake in DoorDash by 3,284.7% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 729,779 shares of the company’s stock valued at $79,385,000 after purchasing an additional 708,218 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its stake in shares of DoorDash by 5,396.1% in the third quarter. Thrivent Financial for Lutherans now owns 663,599 shares of the company’s stock valued at $94,716,000 after buying an additional 651,525 shares during the period. 90.64% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other DoorDash news, Director Stanley Tang sold 1,855 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $169.98, for a total value of $315,312.90. Following the completion of the sale, the director now owns 35,413 shares in the company, valued at $6,019,501.74. This trade represents a 4.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Keith Yandell sold 5,509 shares of DoorDash stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $176.24, for a total transaction of $970,906.16. Following the completion of the transaction, the insider now directly owns 118,712 shares of the company’s stock, valued at approximately $20,921,802.88. This trade represents a 4.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 546,262 shares of company stock valued at $84,620,882 in the last 90 days. 7.92% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts recently commented on DASH shares. Raymond James assumed coverage on DoorDash in a research report on Tuesday, September 24th. They issued an “outperform” rating and a $155.00 target price for the company. Royal Bank of Canada boosted their target price on DoorDash from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Mizuho lifted their price target on DoorDash from $162.00 to $173.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. The Goldman Sachs Group increased their price objective on DoorDash from $142.00 to $161.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Finally, Benchmark boosted their target price on DoorDash from $152.00 to $173.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Ten research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $166.06.

DoorDash Trading Down 0.3 %

Shares of DASH stock opened at $178.44 on Friday. The firm’s fifty day moving average price is $156.47 and its two-hundred day moving average price is $130.31. DoorDash, Inc. has a 1 year low of $92.58 and a 1 year high of $181.30. The firm has a market capitalization of $74.12 billion, a P/E ratio of -396.53, a PEG ratio of 13.77 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last released its earnings results 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 2.41% and a negative net margin of 1.69%. The business had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the previous year, the business earned ($0.19) earnings per share. DoorDash’s quarterly revenue was up 25.0% on a year-over-year basis. As a group, equities research analysts forecast that DoorDash, Inc. will post 0.26 EPS for the current fiscal year.

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.