DoorDash, Inc. (NASDAQ:DASH) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its stake in DoorDash, Inc. (NASDAQ:DASH) by 38.5% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 271,024 shares of the company’s stock after purchasing an additional 75,272 shares during the period. Allspring Global Investments Holdings LLC’s holdings in DoorDash were worth $37,325,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust grew its position in shares of DoorDash by 361.2% during the fourth quarter. Parkside Financial Bank & Trust now owns 392 shares of the company’s stock worth $39,000 after acquiring an additional 307 shares during the last quarter. Valley National Advisers Inc. acquired a new position in DoorDash during the 4th quarter valued at about $43,000. SJS Investment Consulting Inc. grew its position in DoorDash by 26.9% in the 4th quarter. SJS Investment Consulting Inc. now owns 462 shares of the company’s stock worth $46,000 after purchasing an additional 98 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new stake in shares of DoorDash in the fourth quarter valued at approximately $49,000. Finally, Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of DoorDash by 182.0% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 564 shares of the company’s stock valued at $56,000 after buying an additional 364 shares during the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

DoorDash Stock Up 0.2 %

DASH opened at $107.62 on Friday. The firm has a market capitalization of $44.01 billion, a P/E ratio of -99.65, a PEG ratio of 27.17 and a beta of 1.67. The stock has a fifty day moving average of $114.00 and a 200-day moving average of $117.31. DoorDash, Inc. has a 12-month low of $69.90 and a 12-month high of $143.34.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Wednesday, May 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.01. DoorDash had a negative return on equity of 6.28% and a negative net margin of 4.61%. The firm had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.45 billion. During the same period in the prior year, the business earned ($0.41) EPS. The business’s revenue for the quarter was up 23.5% on a year-over-year basis. On average, analysts expect that DoorDash, Inc. will post 0.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In other DoorDash news, CEO Tony Xu sold 132,300 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $133.51, for a total value of $17,663,373.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Andy Fang sold 66,195 shares of the business’s stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $139.31, for a total value of $9,221,625.45. Following the completion of the sale, the director now owns 36,482 shares of the company’s stock, valued at approximately $5,082,307.42. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Tony Xu sold 132,300 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $133.51, for a total transaction of $17,663,373.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 553,345 shares of company stock worth $66,416,801. 7.92% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on DASH shares. Citigroup increased their price objective on DoorDash from $141.00 to $144.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Piper Sandler upgraded shares of DoorDash from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $53.00 to $127.00 in a research note on Friday, March 15th. Wedbush reiterated a “neutral” rating and issued a $115.00 target price on shares of DoorDash in a research report on Thursday, May 2nd. Needham & Company LLC restated a “buy” rating and set a $137.00 price target on shares of DoorDash in a research report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. upped their price target on shares of DoorDash from $108.00 to $111.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, DoorDash presently has an average rating of “Moderate Buy” and a consensus target price of $134.79.

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.