DoorDash, Inc. $DASH Stock: Eurizon Capital SGR S.p.A. Cuts Stake

Eurizon Capital SGR S.p.A. reduced its position in DoorDash, Inc. (NASDAQ:DASH) by 8.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 320,917 shares of the company’s stock after selling 28,690 shares during the quarter. Eurizon Capital SGR S.p.A.’s holdings in DoorDash were worth $58,904,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. R Squared Ltd grew its stake in shares of DoorDash by 145.4% during the third quarter. R Squared Ltd now owns 3,019 shares of the company’s stock valued at $554,000 after buying an additional 1,789 shares during the last quarter. CENTRAL TRUST Co lifted its stake in shares of DoorDash by 5,234.4% during the 3rd quarter. CENTRAL TRUST Co now owns 23,098 shares of the company’s stock worth $4,240,000 after acquiring an additional 22,665 shares during the last quarter. Three Bridge Wealth Advisors LLC purchased a new position in DoorDash during the 3rd quarter valued at $178,000. King Luther Capital Management Corp purchased a new position in DoorDash during the 3rd quarter valued at $5,648,000. Finally, New Mexico Educational Retirement Board boosted its holdings in DoorDash by 398.1% during the 3rd quarter. New Mexico Educational Retirement Board now owns 93,151 shares of the company’s stock valued at $17,098,000 after acquiring an additional 74,451 shares during the period. Institutional investors own 90.64% of the company’s stock.

Analysts Set New Price Targets

DASH has been the topic of several research analyst reports. Moffett Nathanson cut their price objective on DoorDash from $280.00 to $278.00 and set a “buy” rating on the stock in a research report on Thursday, August 6th. BTIG Research reiterated a “buy” rating and set a $225.00 target price on shares of DoorDash in a research report on Wednesday, October 21st. Benchmark boosted their target price on shares of DoorDash from $270.00 to $295.00 in a research note on Thursday, August 6th. Roth Capital upped their price target on shares of DoorDash from $200.00 to $220.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Finally, Scotiabank lowered their price objective on shares of DoorDash from $275.00 to $235.00 and set a “sector outperform” rating for the company in a research report on Friday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $249.82.

More DoorDash News

Investors following DASH have been watching these news items:

• Positive Sentiment: Canadians spent billions on DoorDash last year, pointing to substantial demand for its delivery platform. Article: Canadians spent billions on DoorDash
• Positive Sentiment: DoorDash plans to test weather-resilient robot delivery in Salt Lake City. The pilot could help improve delivery reliability or efficiency if it proves successful, though its financial impact is not yet clear. Article: DoorDash to test robot delivery in Salt Lake City
• Negative Sentiment: A separate analysis argued DoorDash looks overvalued after a strong three-year run, raising concern that the stock’s valuation may leave less room for upside. Article: DoorDash Stock Looks Overvalued

DoorDash Trading Down 3.2%

Shares of NASDAQ DASH opened at $172.58 on Friday. The company has a quick ratio of 1.46, a current ratio of 1.46 and a debt-to-equity ratio of 0.25. The business has a fifty day simple moving average of $189.17 and a two-hundred day simple moving average of $181.91. The firm has a market cap of $75.24 billion, a PE ratio of 71.31, a price-to-earnings-growth ratio of 1.47 and a beta of 1.98. DoorDash, Inc. has a twelve month low of $143.30 and a twelve month high of $239.00.

DoorDash (NASDAQ:DASH) last issued its earnings results on Thursday, October 29th. The company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.25. DoorDash had a return on equity of 10.40% and a net margin of 6.23%. The business had revenue of $4.62 billion during the quarter, compared to analysts’ expectations of $4.56 billion. During the same period in the prior year, the business earned $0.55 EPS. The business’s revenue for the quarter was up 34.0% compared to the same quarter last year. Analysts expect that DoorDash, Inc. will post 2.69 earnings per share for the current fiscal year.

Insider Transactions at DoorDash

In other DoorDash news, COO Prabir Adarkar sold 8,738 shares of the stock in a transaction dated Monday, September 28th. The shares were sold at an average price of $180.85, for a total transaction of $1,580,267.30. Following the transaction, the chief operating officer directly owned 921,473 shares in the company, valued at $166,648,392.05. This represents a 0.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Ravi Inukonda sold 1,017 shares of the stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $195.00, for a total transaction of $198,315.00. Following the transaction, the chief financial officer owned 217,911 shares in the company, valued at approximately $42,492,645. The trade was a 0.46% 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 sold a total of 349,430 shares of company stock valued at $76,644,002 over the last three months. 44.90% of the stock is currently owned by corporate insiders.

DoorDash Profile

DoorDash, Inc. operates a local commerce platform that connects consumers with restaurants and other merchants, as well as with independent delivery workers. Through its app and website, customers can order restaurant meals, groceries, convenience items and products from other local retailers for delivery or pickup. The company also provides services for merchants, including tools for online ordering, marketing and fulfillment. Its offerings include DoorDash Drive, which provides delivery logistics for merchants’ own orders, and DashPass, a subscription program for eligible orders.