Principal Financial Group Inc. Raises Holdings in DoorDash, Inc. (NASDAQ:DASH)

Principal Financial Group Inc. grew its stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 383.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 451,007 shares of the company's stock after purchasing an additional 357,625 shares during the period. Principal Financial Group Inc. owned approximately 0.11% of DoorDash worth $82,431,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. IFP Advisors Inc grew its holdings in DoorDash by 31.8% in the fourth quarter. IFP Advisors Inc now owns 224 shares of the company's stock worth $37,000 after purchasing an additional 54 shares during the period. ORG Partners LLC boosted its position in shares of DoorDash by 404.0% in the 1st quarter. ORG Partners LLC now owns 252 shares of the company's stock worth $46,000 after purchasing an additional 202 shares in the last quarter. Rothschild Investment LLC grew its stake in shares of DoorDash by 1,452.9% in the 1st quarter. Rothschild Investment LLC now owns 264 shares of the company's stock worth $48,000 after buying an additional 247 shares during the last quarter. Mizuho Securities Co. Ltd. increased its position in DoorDash by 150.0% during the 1st quarter. Mizuho Securities Co. Ltd. now owns 300 shares of the company's stock valued at $55,000 after buying an additional 180 shares in the last quarter. Finally, Washington Trust Advisors Inc. purchased a new position in DoorDash during the first quarter valued at $56,000. Hedge funds and other institutional investors own 90.64% of the company's stock.

Insider Transactions at DoorDash

In other DoorDash news, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction on 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 completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ravi Inukonda sold 20,000 shares of the stock in a transaction on Monday, June 30th. The shares were sold at an average price of $247.00, for a total transaction of $4,940,000.00. Following the completion of the sale, the chief financial officer directly owned 245,530 shares in the company, valued at approximately $60,645,910. This represents a 7.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 427,781 shares of company stock worth $94,277,848 in the last quarter. Company insiders own 5.83% of the company's stock.

DoorDash Stock Down 0.0%

DASH stock traded down $0.05 during mid-day trading on Friday, hitting $238.76. The company had a trading volume of 1,699,692 shares, compared to its average volume of 4,237,419. The company has a 50-day moving average price of $211.96 and a 200 day moving average price of $193.51. DoorDash, Inc. has a 12-month low of $99.32 and a 12-month high of $248.74. The company has a market capitalization of $101.17 billion, a price-to-earnings ratio of 310.08 and a beta of 1.70.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share 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 analysts' expectations of $3.10 billion. DoorDash had a return on equity of 4.39% and a net margin of 3.02%. The firm's revenue for the quarter was up 20.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.06) EPS. As a group, analysts expect that DoorDash, Inc. will post 2.22 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. JMP Securities upped their price target on shares of DoorDash from $225.00 to $235.00 and gave the stock a "market outperform" rating in a research note on Thursday, June 12th. DA Davidson increased their price target on shares of DoorDash from $150.00 to $190.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Stifel Nicolaus set a $198.00 price objective on DoorDash and gave the company a "hold" rating in a research report on Tuesday, June 10th. Roth Capital set a $191.00 target price on DoorDash and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Finally, Wedbush restated an "outperform" rating on shares of DoorDash in a research note on Wednesday, May 7th. Ten investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $219.32.

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.