DoorDash, Inc. (NASDAQ:DASH) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. reduced its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 25.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,743 shares of the company’s stock after selling 13,102 shares during the period. Assenagon Asset Management S.A.’s holdings in DoorDash were worth $5,530,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of DASH. Janus Henderson Group PLC lifted its position in DoorDash by 11,416.7% in the 1st quarter. Janus Henderson Group PLC now owns 3,455,116 shares of the company’s stock valued at $475,837,000 after purchasing an additional 3,425,115 shares during the last quarter. Dragoneer Investment Group LLC raised its holdings in shares of DoorDash by 77.9% during the second quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company’s stock valued at $309,755,000 after buying an additional 1,246,567 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in shares of DoorDash by 595.2% during the first quarter. Canada Pension Plan Investment Board now owns 891,879 shares of the company’s stock worth $122,830,000 after buying an additional 763,579 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in DoorDash by 216.1% in the 3rd 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 in the last quarter. Finally, Jupiter Asset Management Ltd. increased its position in DoorDash by 3,284.7% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 729,779 shares of the company’s stock valued at $79,385,000 after acquiring an additional 708,218 shares during the period. 90.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, COO Prabir Adarkar sold 32,124 shares of DoorDash stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $147.99, for a total transaction of $4,754,030.76. Following the completion of the sale, the chief operating officer now owns 963,094 shares of the company’s stock, valued at approximately $142,528,281.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO Prabir Adarkar sold 32,124 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $147.99, for a total value of $4,754,030.76. Following the transaction, the chief operating officer now owns 963,094 shares in the company, valued at approximately $142,528,281.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Shona L. Brown sold 5,005 shares of DoorDash stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $120.00, for a total transaction 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 trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 383,710 shares of company stock worth $53,725,640 in the last ninety days. Corporate insiders own 7.92% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Raymond James started coverage on DoorDash in a research note on Tuesday, September 24th. They issued an “outperform” rating and a $155.00 price target for the company. Piper Sandler reissued a “neutral” rating and set a $125.00 target price (up previously from $115.00) on shares of DoorDash in a research note on Friday, August 2nd. JPMorgan Chase & Co. upped their price target on shares of DoorDash from $111.00 to $137.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Needham & Company LLC increased their price objective on shares of DoorDash from $137.00 to $145.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Keefe, Bruyette & Woods raised DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 target price on the stock in a report on Wednesday, September 25th. Ten investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $151.00.

DoorDash Price Performance

NASDAQ:DASH opened at $155.20 on Wednesday. The stock has a market cap of $63.46 billion, a PE ratio of -143.70, a price-to-earnings-growth ratio of 425.82 and a beta of 1.70. DoorDash, Inc. has a fifty-two week low of $71.38 and a fifty-two week high of $155.93. The stock’s 50-day moving average is $138.79 and its two-hundred day moving average is $123.61.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.29). DoorDash had a negative net margin of 4.24% and a negative return on equity of 5.91%. The company had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.54 billion. During the same period in the previous year, the firm posted ($0.44) earnings per share. The business’s revenue for the quarter was up 23.3% on a year-over-year basis. On average, equities research analysts anticipate that DoorDash, Inc. will post 0.01 earnings per share for the current year.

DoorDash Company 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.