Allianz SE Purchases New Holdings in DoorDash, Inc. (NASDAQ:DASH)

Key Points

• Allianz SE has made a significant investment in DoorDash, acquiring a total of 37,300 shares valued at approximately $6.8 million.
• Insider trading activity includes Director Stanley Tang selling 45,410 shares and CEO Tony Xu selling 44,244 shares recently, indicating shifts in ownership by company executives.
• DoorDash's stock currently has an average analyst rating of "Moderate Buy" with a consensus target price of $235.56, reflecting mixed sentiments in the market.

Allianz SE purchased a new stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 37,300 shares of the company's stock, valued at approximately $6,817,000.

Several other hedge funds also recently added to or reduced their stakes in DASH. Capital World Investors grew its stake in DoorDash by 26.4% in the 4th quarter. Capital World Investors now owns 12,153,265 shares of the company's stock worth $2,038,712,000 after acquiring an additional 2,538,160 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in DoorDash by 46.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,515,861 shares of the company's stock worth $422,036,000 after acquiring an additional 800,322 shares in the last quarter. Voloridge Investment Management LLC grew its stake in DoorDash by 2,183.2% in the 4th quarter. Voloridge Investment Management LLC now owns 816,881 shares of the company's stock worth $137,032,000 after acquiring an additional 781,103 shares in the last quarter. Bank of New York Mellon Corp grew its stake in DoorDash by 45.2% in the 1st quarter. Bank of New York Mellon Corp now owns 2,112,527 shares of the company's stock worth $386,106,000 after acquiring an additional 657,980 shares in the last quarter. Finally, Invesco Ltd. grew its stake in DoorDash by 20.2% in the 4th quarter. Invesco Ltd. now owns 3,383,657 shares of the company's stock worth $567,609,000 after acquiring an additional 567,948 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling at DoorDash

In other DoorDash news, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $240.69, for a total transaction of $10,929,732.90. Following the transaction, the director directly owned 26,070 shares of the company's stock, valued at $6,274,788.30. The trade was a 63.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Tony Xu sold 44,244 shares of DoorDash stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $220.71, for a total transaction of $9,765,093.24. Following the transaction, the chief executive officer directly owned 520,450 shares in the company, valued at $114,868,519.50. This trade represents a 7.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 508,127 shares of company stock valued at $115,087,539. Corporate insiders own 5.83% of the company's stock.

Wall Street Analyst Weigh In

DASH has been the topic of a number of research analyst reports. JPMorgan Chase & Co. dropped their target price on shares of DoorDash from $205.00 to $175.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Loop Capital restated a "buy" rating on shares of DoorDash in a research note on Tuesday, July 15th. BMO Capital Markets restated an "outperform" rating on shares of DoorDash in a research note on Tuesday, April 29th. Wells Fargo & Company increased their price objective on shares of DoorDash from $198.00 to $239.00 and gave the company an "equal weight" rating in a research note on Monday, July 7th. Finally, JMP Securities increased their price objective on shares of DoorDash from $235.00 to $250.00 and gave the company a "market outperform" rating in a research note on Tuesday, July 15th. Eleven investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $235.56.

DoorDash Stock Down 0.8%

Shares of NASDAQ DASH opened at $248.35 on Friday. The company's 50-day simple moving average is $230.64 and its 200-day simple moving average is $203.69. DoorDash, Inc. has a 52-week low of $106.21 and a 52-week high of $252.87. The firm has a market cap of $105.24 billion, a price-to-earnings ratio of 322.54 and a beta of 1.70.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.05. DoorDash had a net margin of 3.02% and a return on equity of 4.39%. The business had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same quarter last year, the business earned ($0.06) earnings per share. The company's revenue for the quarter was up 20.7% compared to the same quarter last year. Equities research analysts anticipate that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

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.

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