DoorDash, Inc. $DASH Shares Bought by Allstate Corp

Key Points

• Allstate Corp more than doubled its DoorDash stake in the fourth quarter, buying an additional 15,741 shares and bringing its total holdings to 29,227 shares valued at about $6.6 million.
• Other institutional investors also modestly increased positions, and hedge funds/institutions now own 90.64% of DoorDash stock, underscoring broad institutional interest in the company.
• Analysts remain generally positive on DoorDash despite some target cuts: the stock carries a Moderate Buy consensus with an average price target of $259.58, while the shares recently traded near $154 after the company reported stronger-than-expected quarterly EPS but slightly missed revenue estimates.

Allstate Corp lifted its holdings in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 116.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,227 shares of the company's stock after acquiring an additional 15,741 shares during the period. Allstate Corp's holdings in DoorDash were worth $6,619,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Premier Path Wealth Partners LLC increased its position in shares of DoorDash by 1.9% in the third quarter. Premier Path Wealth Partners LLC now owns 2,414 shares of the company's stock worth $657,000 after acquiring an additional 45 shares in the last quarter. Callan Family Office LLC boosted its stake in DoorDash by 0.8% during the 3rd quarter. Callan Family Office LLC now owns 6,123 shares of the company's stock valued at $1,665,000 after acquiring an additional 51 shares during the last quarter. Keel Point LLC boosted its stake in DoorDash by 4.3% during the 3rd quarter. Keel Point LLC now owns 1,393 shares of the company's stock valued at $379,000 after acquiring an additional 58 shares during the last quarter. Petra Financial Advisors Inc. lifted its position in shares of DoorDash by 2.2% in the 3rd quarter. Petra Financial Advisors Inc. now owns 2,764 shares of the company's stock worth $752,000 after buying an additional 59 shares during the last quarter. Finally, CYBER HORNET ETFs LLC lifted its position in shares of DoorDash by 6.5% in the 4th quarter. CYBER HORNET ETFs LLC now owns 979 shares of the company's stock worth $222,000 after buying an additional 60 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on DASH. Citizens Jmp cut their price objective on shares of DoorDash from $285.00 to $250.00 and set a "market outperform" rating on the stock in a research report on Friday, February 20th. TD Cowen assumed coverage on DoorDash in a report on Monday, April 27th. They issued a "buy" rating and a $225.00 price objective for the company. Evercore set a $300.00 target price on DoorDash in a research report on Thursday, February 19th. Zacks Research raised DoorDash from a "strong sell" rating to a "hold" rating in a research report on Tuesday, May 12th. Finally, Cantor Fitzgerald dropped their price target on DoorDash from $285.00 to $230.00 and set an "overweight" rating on the stock in a research report on Thursday, February 19th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $259.58.

Insider Buying and Selling at DoorDash

In other DoorDash news, Director Shona L. Brown sold 1,250 shares of DoorDash stock in a transaction on Monday, March 9th. The stock was sold at an average price of $176.61, for a total value of $220,762.50. Following the completion of the transaction, the director owned 31,002 shares in the company, valued at approximately $5,475,263.22. The trade was a 3.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Prabir Adarkar sold 10,000 shares of DoorDash stock in a transaction on Monday, April 20th. The shares were sold at an average price of $188.34, for a total value of $1,883,400.00. Following the completion of the transaction, the chief operating officer owned 843,678 shares of the company's stock, valued at approximately $158,898,314.52. The trade was a 1.17% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 42,683 shares of company stock worth $6,908,813. 5.83% of the stock is currently owned by insiders.

DoorDash Price Performance

Shares of DASH stock opened at $154.00 on Wednesday. The stock has a 50 day moving average of $162.79 and a two-hundred day moving average of $188.12. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.27. DoorDash, Inc. has a 12 month low of $143.30 and a 12 month high of $285.50. The company has a market capitalization of $67.10 billion, a P/E ratio of 73.33 and a beta of 1.87.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, topping analysts' consensus estimates of $0.36 by $0.06. The company had revenue of $4.04 billion during 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 company's quarterly revenue was up 33.1% on a year-over-year basis. During the same quarter last year, the company earned $0.44 EPS. As a group, equities analysts expect that DoorDash, Inc. will post 2.45 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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