Invesco Ltd. Boosts Holdings in DoorDash, Inc. $DASH

Invesco Ltd. grew its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 12.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,375,480 shares of the company’s stock after purchasing an additional 575,629 shares during the period. Invesco Ltd.’s holdings in DoorDash were worth $1,325,110,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in DoorDash by 25.8% during the 1st quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company’s stock valued at $7,200,642,000 after acquiring an additional 8,073,882 shares in the last quarter. Norges Bank bought a new position in shares of DoorDash in the 2nd quarter worth approximately $1,185,576,000. AQR Capital Management LLC lifted its stake in shares of DoorDash by 442.5% in the 1st quarter. AQR Capital Management LLC now owns 1,836,122 shares of the company’s stock valued at $321,799,000 after purchasing an additional 1,497,636 shares during the period. Nuveen LLC bought a new stake in shares of DoorDash during the first quarter valued at approximately $211,415,000. Finally, Deutsche Bank AG boosted its position in shares of DoorDash by 111.3% during the first quarter. Deutsche Bank AG now owns 2,009,699 shares of the company’s stock valued at $367,313,000 after purchasing an additional 1,058,731 shares in the last quarter. 90.64% of the stock is owned by institutional investors.

DoorDash Price Performance

Shares of NASDAQ:DASH opened at $216.98 on Wednesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.04 and a current ratio of 2.04. The firm has a market cap of $93.52 billion, a price-to-earnings ratio of 110.14 and a beta of 1.72. The business has a 50-day simple moving average of $239.62 and a two-hundred day simple moving average of $238.96. DoorDash, Inc. has a fifty-two week low of $155.40 and a fifty-two week high of $285.50.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.13). DoorDash had a return on equity of 9.97% and a net margin of 6.83%.The company had revenue of $3.45 billion during the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter in the prior year, the firm earned $0.38 earnings per share. The business’s revenue was up 27.3% compared to the same quarter last year. On average, analysts expect that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on DASH shares. Wells Fargo & Company lowered their price objective on DoorDash from $301.00 to $239.00 and set an “equal weight” rating for the company in a research report on Thursday, November 6th. Mizuho decreased their price target on shares of DoorDash from $350.00 to $320.00 and set an “outperform” rating for the company in a research note on Wednesday, November 12th. The Goldman Sachs Group dropped their price objective on shares of DoorDash from $315.00 to $279.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. UBS Group cut their price objective on shares of DoorDash from $316.00 to $241.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. Finally, Needham & Company LLC lowered their price objective on DoorDash from $300.00 to $275.00 and set a “buy” rating for the company in a research note on Friday, November 14th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, DoorDash has a consensus rating of “Moderate Buy” and an average price target of $275.62.

Insiders Place Their Bets

In other DoorDash news, COO Prabir Adarkar sold 30,000 shares of the business’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $270.60, for a total transaction of $8,118,000.00. Following the completion of the sale, the chief operating officer directly owned 914,547 shares in the company, valued at $247,476,418.20. The trade was a 3.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Tony Xu sold 288,410 shares of the business’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $196.04, for a total transaction of $56,539,896.40. Following the sale, the chief executive officer owned 232,040 shares of the company’s stock, valued at $45,489,121.60. This trade represents a 55.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 609,153 shares of company stock valued at $138,466,615. 5.83% of the stock is currently owned by company insiders.

About DoorDash

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.