Swiss Life Asset Management Ltd Has $19.25 Million Stake in DoorDash, Inc. $DASH

Key Points

• Swiss Life Asset Management Ltd boosted its DoorDash stake by 124.2% in the fourth quarter, ending with 85,002 shares worth about $19.25 million.
• DoorDash’s latest earnings showed EPS of $0.42, beating estimates, while revenue came in at $4.04 billion, below expectations but still up 33.1% year over year.
• Analysts remain generally constructive on DASH, with an average Moderate Buy rating and a consensus target price of about $257, though several firms recently adjusted their price targets.

Swiss Life Asset Management Ltd increased its stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 124.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 85,002 shares of the company's stock after acquiring an additional 47,083 shares during the period. Swiss Life Asset Management Ltd's holdings in DoorDash were worth $19,251,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of DoorDash by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 43,426,479 shares of the company's stock worth $9,835,229,000 after acquiring an additional 713,571 shares during the period. State Street Corp raised its holdings in shares of DoorDash by 6.3% during the third quarter. State Street Corp now owns 15,296,624 shares of the company's stock worth $4,160,529,000 after acquiring an additional 909,125 shares during the period. Capital World Investors grew its position in DoorDash by 0.9% in the third quarter. Capital World Investors now owns 10,865,927 shares of the company's stock valued at $2,955,424,000 after purchasing an additional 95,278 shares in the last quarter. Invesco Ltd. grew its position in DoorDash by 18.2% in the third quarter. Invesco Ltd. now owns 6,355,628 shares of the company's stock valued at $1,728,667,000 after purchasing an additional 980,148 shares in the last quarter. Finally, Northern Trust Corp grew its position in DoorDash by 3.0% in the third quarter. Northern Trust Corp now owns 3,348,168 shares of the company's stock valued at $910,668,000 after purchasing an additional 96,012 shares in the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other DoorDash news, Director Stanley Tang sold 21,433 shares of DoorDash stock in a transaction dated Thursday, April 2nd. The shares were sold at an average price of $150.00, for a total value of $3,214,950.00. Following the completion of the sale, the director owned 19,279 shares in the company, valued at $2,891,850. The trade was a 52.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Prabir Adarkar sold 10,000 shares of DoorDash stock in a transaction dated Monday, April 20th. The stock was sold at an average price of $188.34, for a total transaction of $1,883,400.00. Following the completion of the sale, the chief operating officer owned 843,678 shares of the company's stock, valued at $158,898,314.52. This trade represents 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. Insiders sold 42,683 shares of company stock worth $6,908,813 in the last quarter. 5.83% of the stock is currently owned by corporate insiders.

DoorDash Price Performance

Shares of DoorDash stock opened at $157.33 on Tuesday. DoorDash, Inc. has a twelve month low of $143.30 and a twelve month high of $285.50. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.27. The company has a 50-day simple moving average of $166.36 and a two-hundred day simple moving average of $195.55. The stock has a market capitalization of $68.35 billion, a price-to-earnings ratio of 74.92 and a beta of 1.87.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.06. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The business had revenue of $4.04 billion during the quarter, compared to analysts' expectations of $4.15 billion. During the same quarter in the previous year, the company earned $0.44 EPS. The business's revenue was up 33.1% on a year-over-year basis. Analysts forecast that DoorDash, Inc. will post 2.53 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on DASH. TD Cowen began coverage on shares of DoorDash in a research report on Monday, April 27th. They issued a "buy" rating and a $225.00 target price for the company. Sanford C. Bernstein decreased their target price on shares of DoorDash from $285.00 to $270.00 and set an "outperform" rating for the company in a research report on Thursday, February 19th. UBS Group raised their target price on shares of DoorDash from $206.00 to $214.00 and gave the company a "neutral" rating in a research report on Thursday, May 7th. Citigroup decreased their target price on shares of DoorDash from $280.00 to $250.00 and set a "buy" rating for the company in a research report on Friday. Finally, Wells Fargo & Company raised their target price on shares of DoorDash from $198.00 to $200.00 and gave the company an "equal weight" rating in a research report on Thursday, May 7th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, DoorDash presently has an average rating of "Moderate Buy" and an average target price of $257.00.

DoorDash Company 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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