Federated Hermes Inc. Increases Stock Holdings in DoorDash, Inc. (NASDAQ:DASH)

Key Points

• Federated Hermes Inc. raised its stake in DoorDash by 30.7%, owning approximately 1,003,917 shares valued at $183.49 million as of the end of the most recent reporting period.
• DoorDash reported earnings per share (EPS) of $0.44 for the latest quarter, exceeding analysts' estimates and marking a 20.7% revenue increase year-over-year.
• Institutional investors hold 90.64% of DoorDash's stock, with several firms significantly increasing their stakes in the company during recent quarters.

Federated Hermes Inc. boosted its holdings in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 30.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,003,917 shares of the company's stock after purchasing an additional 236,054 shares during the quarter. Federated Hermes Inc. owned about 0.24% of DoorDash worth $183,486,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in DASH. Capital World Investors lifted its stake in shares of 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 in the last quarter. Franklin Resources Inc. lifted its position in DoorDash by 25.0% during the fourth quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company's stock valued at $796,781,000 after purchasing an additional 949,414 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in DoorDash by 46.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,515,861 shares of the company's stock valued at $422,036,000 after purchasing an additional 800,322 shares during the period. Voloridge Investment Management LLC lifted its position in DoorDash by 2,183.2% during the fourth quarter. Voloridge Investment Management LLC now owns 816,881 shares of the company's stock valued at $137,032,000 after purchasing an additional 781,103 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in DoorDash by 45.2% during the first quarter. Bank of New York Mellon Corp now owns 2,112,527 shares of the company's stock valued at $386,106,000 after purchasing an additional 657,980 shares during the period. Institutional investors own 90.64% of the company's stock.

Analyst Upgrades and Downgrades

DASH has been the topic of a number of research analyst reports. BTIG Research increased their price objective on shares of DoorDash from $225.00 to $265.00 and gave the company a "buy" rating in a research report on Tuesday, July 1st. Royal Bank Of Canada reiterated an "outperform" rating and issued a $230.00 price target on shares of DoorDash in a research report on Wednesday, May 7th. KeyCorp increased their price target on shares of DoorDash from $235.00 to $295.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Bank of America increased their price target on shares of DoorDash from $230.00 to $245.00 and gave the stock a "buy" rating in a research report on Thursday, June 12th. Finally, Oppenheimer increased their price target on shares of DoorDash from $220.00 to $280.00 and gave the stock an "outperform" rating in a research report on Monday, June 30th. Eleven equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, DoorDash currently has a consensus rating of "Moderate Buy" and an average target price of $235.56.

DoorDash Stock Down 0.9%

DASH traded down $2.24 on Friday, reaching $248.02. 2,079,483 shares of the company traded hands, compared to its average volume of 4,755,410. DoorDash, Inc. has a one year low of $106.21 and a one year high of $252.87. The firm has a fifty day simple moving average of $229.80 and a two-hundred day simple moving average of $202.92. The company has a market cap of $105.09 billion, a P/E ratio of 322.97 and a beta of 1.70.

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

Insiders Place Their Bets

In other DoorDash news, CFO Ravi Inukonda sold 1,425 shares of the company's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $244.78, for a total transaction of $348,811.50. Following the completion of the transaction, the chief financial officer directly owned 244,905 shares in the company, valued at approximately $59,947,845.90. This represents a 0.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Prabir Adarkar sold 30,000 shares of the company's stock in a transaction on 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 owned 942,554 shares of the company's stock, valued at $229,059,473.08. This 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 sold 508,127 shares of company stock worth $115,087,539. Company insiders own 5.83% of the company's stock.

DoorDash Company Profile

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.