Assenagon Asset Management S.A. Purchases 885,122 Shares of DoorDash, Inc. $DASH

Key Points

• Assenagon Asset Management increased its DoorDash stake by 137.6% in the first quarter, buying 885,122 additional shares and bringing its total holding to 1,528,218 shares worth about $229.5 million.
• Several other institutional investors also boosted positions in DoorDash, and overall 90.64% of the stock is owned by institutions and hedge funds.
• Analysts remain broadly positive on DoorDash, with an average rating of “Moderate Buy” and an average price target of $256.11, even as some firms recently trimmed their targets.

Assenagon Asset Management S.A. grew its position in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 137.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,528,218 shares of the company's stock after purchasing an additional 885,122 shares during the quarter. Assenagon Asset Management S.A. owned about 0.35% of DoorDash worth $229,462,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. CENTRAL TRUST Co raised its position in shares of DoorDash by 269.4% in the 1st quarter. CENTRAL TRUST Co now owns 266 shares of the company's stock valued at $40,000 after purchasing an additional 194 shares during the last quarter. AdvisorNet Financial Inc grew its position in DoorDash by 202.4% during the 1st quarter. AdvisorNet Financial Inc now owns 1,025 shares of the company's stock worth $154,000 after purchasing an additional 686 shares during the last quarter. Harbour Wealth Management Group Inc. purchased a new stake in DoorDash during the 1st quarter worth approximately $649,000. PKO Investment Management Joint Stock Co increased its stake in DoorDash by 15.4% during the 1st quarter. PKO Investment Management Joint Stock Co now owns 15,000 shares of the company's stock valued at $2,252,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Diversified Trust Co increased its stake in DoorDash by 44.6% during the 1st quarter. Diversified Trust Co now owns 2,520 shares of the company's stock valued at $378,000 after purchasing an additional 777 shares in the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. UBS Group lifted their price objective on shares of DoorDash from $206.00 to $214.00 and gave the stock a "neutral" rating in a research note on Thursday, May 7th. DA Davidson cut their target price on DoorDash from $224.00 to $200.00 and set a "neutral" rating on the stock in a research report on Thursday, May 7th. Susquehanna reduced their target price on DoorDash from $250.00 to $225.00 and set a "positive" rating for the company in a research note on Friday, May 8th. Citigroup restated a "market outperform" rating on shares of DoorDash in a research note on Monday. Finally, Moffett Nathanson set a $276.00 price target on DoorDash in a research report on Wednesday, April 15th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $256.11.

Insider Buying and Selling

In other DoorDash news, 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 completion of the transaction, the insider directly owned 81,106 shares of the company's stock, valued at approximately $12,599,006.04. The trade was a 3.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Prabir Adarkar sold 21,739 shares of the business's stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $155.25, for a total value of $3,374,979.75. Following the completion of the transaction, the chief operating officer directly owned 959,076 shares of the company's stock, valued at $148,896,549. The trade was a 2.22% 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 58,558 shares of company stock worth $9,324,940 over the last ninety days. 5.83% of the stock is owned by corporate insiders.

DoorDash Price Performance

NASDAQ:DASH opened at $177.93 on Thursday. DoorDash, Inc. has a one year low of $143.30 and a one year high of $285.50. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.43 and a current ratio of 1.43. The firm has a market cap of $77.53 billion, a price-to-earnings ratio of 84.73 and a beta of 1.83. The firm's fifty day moving average is $165.16 and its two-hundred day moving average is $182.18.

DoorDash (NASDAQ:DASH - Get Free Report) last announced 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 company had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $4.15 billion. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The firm's revenue for the quarter was up 33.1% compared to the same quarter last year. During the same period last year, the firm earned $0.44 EPS. Research analysts expect that DoorDash, Inc. will post 2.41 EPS for the current 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.

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