DoorDash, Inc. (NASDAQ:DASH) Shares Acquired by Lazard Asset Management LLC

Lazard Asset Management LLC grew its holdings in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 126.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 24,395 shares of the company's stock after acquiring an additional 13,599 shares during the quarter. Lazard Asset Management LLC's holdings in DoorDash were worth $4,091,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in DoorDash in the fourth quarter valued at $597,443,000. Capital World Investors increased its position in shares of DoorDash by 26.4% during the fourth quarter. Capital World Investors now owns 12,153,265 shares of the company's stock worth $2,038,712,000 after purchasing an additional 2,538,160 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of 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 purchasing an additional 1,869,866 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of 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 purchasing an additional 949,414 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of DoorDash in the 4th quarter valued at about $146,094,000. Institutional investors and hedge funds own 90.64% of the company's stock.

Insider Activity at DoorDash

In related news, COO Prabir Adarkar sold 20,161 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $203.45, for a total value of $4,101,755.45. Following the completion of the sale, the chief operating officer now directly owns 905,061 shares of the company's stock, valued at $184,134,660.45. The trade was a 2.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Tia Sherringham sold 12,088 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $203.45, for a total value of $2,459,303.60. Following the sale, the general counsel now owns 122,135 shares in the company, valued at $24,848,365.75. The trade was a 9.01% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 158,573 shares of company stock valued at $30,407,073 over the last ninety days. Corporate insiders own 5.83% of the company's stock.

DoorDash Stock Performance

Shares of NASDAQ:DASH traded up $0.18 during trading on Monday, hitting $202.18. The company's stock had a trading volume of 3,336,785 shares, compared to its average volume of 4,177,053. The company has a market capitalization of $84.94 billion, a PE ratio of 748.81 and a beta of 1.68. DoorDash, Inc. has a fifty-two week low of $99.32 and a fifty-two week high of $215.25. The stock's 50-day moving average price is $186.03 and its two-hundred day moving average price is $182.51.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.39 by $0.05. The company had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.10 billion. DoorDash had a return on equity of 1.67% and a net margin of 1.15%. DoorDash's quarterly revenue was up 20.7% on a year-over-year basis. During the same period in the prior year, the company posted ($0.06) EPS. On average, equities analysts predict that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. UBS Group lowered their target price on shares of DoorDash from $197.00 to $196.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Truist Financial raised their price objective on shares of DoorDash from $217.00 to $235.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. JPMorgan Chase & Co. reduced their target price on shares of DoorDash from $205.00 to $175.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Morgan Stanley decreased their target price on shares of DoorDash from $245.00 to $210.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Finally, Wedbush restated an "outperform" rating on shares of DoorDash in a research report on Wednesday, May 7th. Ten analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $209.97.

About DoorDash

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.