Securian Asset Management Inc. Takes $3.28 Million Position in DoorDash, Inc. (NASDAQ:DASH)

Securian Asset Management Inc. purchased a new position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 17,970 shares of the company's stock, valued at approximately $3,284,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in DoorDash by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 31,323,404 shares of the company's stock valued at $5,254,501,000 after buying an additional 317,502 shares during the period. Capital World Investors grew its position in DoorDash by 26.4% in the 4th quarter. Capital World Investors now owns 12,153,265 shares of the company's stock valued at $2,038,712,000 after acquiring an additional 2,538,160 shares in the last quarter. Franklin Resources Inc. grew its position in DoorDash by 25.0% in the 4th quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company's stock valued at $796,781,000 after acquiring an additional 949,414 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in DoorDash by 67.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company's stock valued at $780,858,000 after acquiring an additional 1,869,866 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in DoorDash by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 4,558,821 shares of the company's stock valued at $763,198,000 after acquiring an additional 86,667 shares in the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

DoorDash Stock Performance

NASDAQ DASH traded up $2.98 on Friday, reaching $238.00. The stock had a trading volume of 2,423,417 shares, compared to its average volume of 4,211,863. DoorDash, Inc. has a 12-month low of $99.32 and a 12-month high of $248.74. The business's 50-day moving average price is $220.61 and its 200 day moving average price is $197.89. The stock has a market cap of $100.85 billion, a P/E ratio of 309.21 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 EPS for the quarter, topping the consensus estimate of $0.39 by $0.05. DoorDash had a return on equity of 4.39% and a net margin of 3.02%. The business had revenue of $3.03 billion during the quarter, compared to analysts' expectations of $3.10 billion. During the same quarter in the prior year, the business earned ($0.06) earnings per share. The company's quarterly revenue was up 20.7% compared to the same quarter last year. On average, sell-side analysts predict that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on DASH shares. JMP Securities lifted their target price on DoorDash from $235.00 to $250.00 and gave the company a "market outperform" rating in a research report on Tuesday. Wall Street Zen raised DoorDash from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th. DA Davidson lifted their target price on DoorDash from $150.00 to $190.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Oppenheimer lifted their target price on DoorDash from $220.00 to $280.00 and gave the company an "outperform" rating in a research report on Monday, June 30th. Finally, Wedbush restated an "outperform" rating on shares of DoorDash in a research note on Wednesday, May 7th. 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 MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $226.97.

Insider Buying and Selling at DoorDash

In other news, CFO Ravi Inukonda sold 20,000 shares of the company's stock in a transaction that occurred on Monday, June 30th. The stock was 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 owned 245,530 shares in the company, valued at $60,645,910. This represents a 7.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Tony Xu sold 34,167 shares of the company's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $236.80, for a total value of $8,090,745.60. Following the sale, the chief executive officer owned 520,450 shares of the company's stock, valued at $123,242,560. This trade represents a 6.16% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 463,198 shares of company stock valued at $102,674,831. Corporate 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.