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DoorDash, Inc. (NASDAQ:DASH) Shares Acquired by Assetmark Inc.

DoorDash logo with Computer and Technology background

Key Points

  • Assetmark Inc. increased its holdings in DoorDash, Inc. by 12.1%, owning 9,856 shares valued at approximately $1.80 million as of the end of the first quarter.
  • Institutional investors now control 90.64% of DoorDash's stock, with significant increases reported by firms like Capital World Investors and UBS AM.
  • DoorDash reported $0.44 earnings per share for the last quarter, surpassing expectations and indicating a year-over-year revenue growth of 20.7%.
  • Five stocks we like better than DoorDash.

Assetmark Inc. grew its position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 12.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 9,856 shares of the company's stock after purchasing an additional 1,063 shares during the quarter. Assetmark Inc.'s holdings in DoorDash were worth $1,801,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. Capital World Investors increased its holdings in DoorDash by 26.4% in the fourth quarter. Capital World Investors now owns 12,153,265 shares of the company's stock worth $2,038,712,000 after buying an additional 2,538,160 shares during the last quarter. Geode Capital Management LLC raised its stake in DoorDash by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 4,558,821 shares of the company's stock worth $763,198,000 after acquiring an additional 86,667 shares in the last quarter. Invesco Ltd. grew its holdings in shares of DoorDash by 20.2% during the fourth quarter. Invesco Ltd. now owns 3,383,657 shares of the company's stock worth $567,609,000 after purchasing an additional 567,948 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of DoorDash by 0.6% in the 4th quarter. Marshall Wace LLP now owns 2,764,431 shares of the company's stock valued at $463,733,000 after purchasing an additional 15,952 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of DoorDash by 46.7% during 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 buying an additional 800,322 shares during the period. Institutional investors and hedge funds own 90.64% of the company's stock.

Insider Activity

In other news, Director Shona L. Brown sold 825 shares of the firm's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $250.00, for a total value of $206,250.00. Following the transaction, the director directly owned 43,477 shares of the company's stock, valued at approximately $10,869,250. This trade represents a 1.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Prabir Adarkar sold 30,000 shares of DoorDash stock in a transaction dated Thursday, July 24th. The stock was sold at an average price of $243.02, for a total transaction of $7,290,600.00. Following the transaction, the chief operating officer directly owned 942,554 shares in the company, valued at $229,059,473.08. This trade represents a 3.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 508,127 shares of company stock valued at $115,087,539. 5.83% of the stock is owned by insiders.

DoorDash Price Performance

Shares of DoorDash stock traded down $1.90 during trading on Friday, reaching $248.35. 2,945,040 shares of the stock traded hands, compared to its average volume of 2,699,196. DoorDash, Inc. has a 52-week low of $106.21 and a 52-week high of $252.87. The business has a fifty day simple moving average of $230.64 and a two-hundred day simple moving average of $203.47. The company has a market capitalization 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 released its quarterly earnings data on Tuesday, May 6th. The company reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.39 by $0.05. DoorDash had a net margin of 3.02% and a return on equity of 4.39%. The company had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same period in the prior year, the firm earned ($0.06) earnings per share. The firm's revenue for the quarter was up 20.7% compared to the same quarter last year. On average, research analysts predict that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on DASH shares. Loop Capital reaffirmed a "buy" rating on shares of DoorDash in a research report on Tuesday, July 15th. UBS Group boosted their target price on shares of DoorDash from $196.00 to $260.00 and gave the stock a "neutral" rating in a research note on Tuesday. Needham & Company LLC lifted their price objective on shares of DoorDash from $225.00 to $230.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. BMO Capital Markets restated an "outperform" rating on shares of DoorDash in a report on Tuesday, April 29th. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $230.00 price objective on shares of DoorDash in a report on Wednesday, May 7th. Eleven 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. Based on data from MarketBeat.com, DoorDash has an average rating of "Moderate Buy" and a consensus target price of $235.56.

Get Our Latest Stock Report on DASH

DoorDash Profile

(Free Report)

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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Institutional Ownership by Quarter for DoorDash (NASDAQ:DASH)

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