Principal Financial Group Inc. Has $64.27 Million Stock Position in DoorDash, Inc. $DASH

Principal Financial Group Inc. grew its position in DoorDash, Inc. (NASDAQ:DASH) by 1.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 428,040 shares of the company’s stock after acquiring an additional 5,571 shares during the quarter. Principal Financial Group Inc. owned 0.10% of DoorDash worth $64,270,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in shares of DoorDash in the fourth quarter valued at $1,093,650,000. Wellington Management Group LLP boosted its stake in DoorDash by 593.1% during the fourth quarter. Wellington Management Group LLP now owns 5,481,693 shares of the company’s stock worth $1,241,494,000 after buying an additional 4,690,744 shares in the last quarter. 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 valued at $3,161,234,000 after buying an additional 3,447,754 shares during the period. Coatue Management LLC increased its holdings in DoorDash by 77.8% in the 4th quarter. Coatue Management LLC now owns 4,365,365 shares of the company’s stock valued at $988,668,000 after buying an additional 1,910,488 shares during the period. Finally, Alyeska Investment Group L.P. acquired a new position in shares of DoorDash in the 4th quarter valued at $372,128,000. Institutional investors and hedge funds own 90.64% of the company’s stock.

Key DoorDash News

Here are the key news stories impacting DoorDash this week:

• Positive Sentiment: DoorDash unveiled new developer-focused tools, including a macOS command-line product and an AI-agent ordering feature, which could highlight innovation and broaden how users interact with the platform. Yes, you can now order DoorDash from the command line
• Positive Sentiment: A new Wedbush coverage initiation with a $205 price target suggests Wall Street sees upside from current levels, which can support sentiment around the stock. DoorDash is now covered by Wedbush
• Positive Sentiment: DoorDash also expanded its merchant reach through a Shopify integration, which could help drive more delivery volume from brick-and-mortar retailers. DoorDash-Shopify Integration Creates On-Demand Delivery for Brick-and-Mortar Retailers
• Neutral Sentiment: Reports about DoorDash’s move into robots and autonomous delivery highlight long-term innovation, but the near-term financial impact is still unclear. Delivery company DoorDash wants to roll out robots on New Mexico roads
• Negative Sentiment: Fresh lawsuit headlines alleging DoorDash allowed an unlicensed driver to make deliveries add legal and reputational risk, which can weigh on shares. Former shipyard worker sues DoorDash for $25M, saying it allowed unlicensed driver to make deliveries
• Negative Sentiment: Broader competition may also be a concern after Uber’s acquisition of Delivery Hero, which could intensify pressure in global food delivery. Move over DoorDash, Uber’s latest deal would make it the world’s largest food delivery player outside China

DoorDash Trading Down 2.0%

Shares of DoorDash stock opened at $186.36 on Friday. The stock has a market capitalization of $81.20 billion, a P/E ratio of 88.74 and a beta of 1.78. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.27. The company has a 50-day simple moving average of $169.36 and a 200 day simple moving average of $177.63. DoorDash, Inc. has a 12-month low of $143.30 and a 12-month high of $285.50.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. The firm had revenue of $4.04 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the business earned $0.44 earnings per share. Research analysts expect that DoorDash, Inc. will post 2.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Piper Sandler reduced their price objective on shares of DoorDash from $220.00 to $205.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. Truist Financial dropped their price target on shares of DoorDash from $340.00 to $330.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. KeyCorp cut their price target on shares of DoorDash from $280.00 to $275.00 and set an “overweight” rating for the company in a research note on Tuesday. TD Cowen reaffirmed a “buy” rating on shares of DoorDash in a report on Wednesday. Finally, Moffett Nathanson set a $276.00 price objective on DoorDash in a research note on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, DoorDash presently has a consensus rating of “Moderate Buy” and an average price target of $252.89.

Insider Buying and Selling

In related news, Director Stanley Tang sold 23,125 shares of the firm’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $191.19, for a total transaction of $4,421,268.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Tia Sherringham sold 2,743 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $160.79, for a total value of $441,046.97. Following the sale, the general counsel directly owned 128,216 shares of the company’s stock, valued at $20,615,850.64. This represents a 2.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 84,927 shares of company stock valued at $15,124,932 in the last ninety days. 5.83% of the stock is owned by corporate insiders.

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.