Assenagon Asset Management S.A. Boosts Stake in DoorDash, Inc. $DASH

Assenagon Asset Management S.A. increased its holdings in DoorDash, Inc. (NASDAQ:DASH) by 137.6% in the first quarter, HoldingsChannel.com reports. The firm owned 1,528,218 shares of the company’s stock after buying an additional 885,122 shares during the quarter. Assenagon Asset Management S.A.’s holdings in DoorDash were worth $229,462,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of DASH. Vanguard Group Inc. raised its stake in shares of DoorDash by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 43,426,479 shares of the company’s stock worth $9,835,229,000 after buying an additional 713,571 shares during the period. SC US Ttgp LTD. grew its stake in DoorDash by 1.6% in the 4th quarter. SC US Ttgp LTD. now owns 31,686,624 shares of the company’s stock valued at $7,176,387,000 after acquiring an additional 506,358 shares during the period. Morgan Stanley grew its stake in DoorDash by 2.3% in the 4th quarter. Morgan Stanley now owns 17,536,824 shares of the company’s stock valued at $3,971,741,000 after acquiring an additional 391,596 shares during the period. State Street Corp grew its stake in DoorDash by 3.0% in the 4th quarter. State Street Corp now owns 15,761,072 shares of the company’s stock valued at $3,569,568,000 after acquiring an additional 464,448 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in DoorDash by 32.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,958,114 shares of the company’s stock worth $3,161,234,000 after acquiring an additional 3,447,754 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Insider Buying and Selling at DoorDash

In other DoorDash news, Director Stanley Tang sold 21,433 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The shares were sold at an average price of $150.00, for a total value of $3,214,950.00. Following the transaction, the director directly owned 19,279 shares of the company’s stock, valued at $2,891,850. This trade represents a 52.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Keith Yandell sold 2,643 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $155.34, for a total value of $410,563.62. Following the transaction, the insider owned 81,106 shares in the company, valued at approximately $12,599,006.04. This represents a 3.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 58,558 shares of company stock worth $9,324,940 in the last quarter. Insiders own 5.83% of the company’s stock.

Analysts Set New Price Targets

DASH has been the subject of several research analyst reports. DA Davidson reduced their price target on shares of DoorDash from $224.00 to $200.00 and set a “neutral” rating for the company in a research report on Thursday, May 7th. Rothschild & Co Redburn set a $350.00 price objective on DoorDash in a report on Tuesday, May 12th. Truist Financial lowered their price objective on DoorDash from $340.00 to $330.00 and set a “buy” rating on the stock in a report on Thursday, May 7th. TD Cowen initiated coverage on DoorDash in a research note on Monday, April 27th. They set a “buy” rating and a $225.00 price objective for the company. Finally, Needham & Company LLC reissued a “buy” rating and set a $265.00 target price on shares of DoorDash in a report on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, DoorDash presently has an average rating of “Moderate Buy” and a consensus target price of $256.11.

DoorDash Price Performance

DoorDash stock opened at $177.93 on Thursday. The company has a fifty day simple moving average of $165.16 and a 200-day simple moving average of $182.18. The firm has a market capitalization of $77.53 billion, a price-to-earnings ratio of 84.73 and a beta of 1.83. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.27. 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, May 6th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.06. The firm had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $4.15 billion. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The company’s revenue for the quarter was up 33.1% on a year-over-year basis. During the same period last year, the firm posted $0.44 earnings per share. On average, equities analysts anticipate that DoorDash, Inc. will post 2.41 EPS for the current fiscal year.

DoorDash Profile

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.