Pictet Asset Management SA Increases Stock Holdings in DoorDash, Inc. (NYSE:DASH)

Pictet Asset Management SA increased its holdings in shares of DoorDash, Inc. (NYSE:DASHGet Rating) by 90.4% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 65,361 shares of the company’s stock after purchasing an additional 31,033 shares during the quarter. Pictet Asset Management SA’s holdings in DoorDash were worth $4,194,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Hhlr Advisors LTD. lifted its holdings in shares of DoorDash by 199.4% during the 1st quarter. Hhlr Advisors LTD. now owns 3,881,700 shares of the company’s stock worth $454,896,000 after acquiring an additional 2,585,400 shares during the period. Coatue Management LLC increased its holdings in DoorDash by 80.0% in the 1st quarter. Coatue Management LLC now owns 5,280,472 shares of the company’s stock valued at $618,819,000 after purchasing an additional 2,347,602 shares in the last quarter. Vanguard Group Inc. raised its position in DoorDash by 18.8% in the first quarter. Vanguard Group Inc. now owns 12,862,889 shares of the company’s stock valued at $1,507,402,000 after purchasing an additional 2,032,637 shares during the period. Dragoneer Investment Group LLC lifted its stake in shares of DoorDash by 121.2% during the first quarter. Dragoneer Investment Group LLC now owns 3,294,334 shares of the company’s stock worth $386,063,000 after purchasing an additional 1,805,124 shares in the last quarter. Finally, Sands Capital Management LLC boosted its stake in shares of DoorDash by 16.6% in the first quarter. Sands Capital Management LLC now owns 9,101,753 shares of the company’s stock valued at $1,066,634,000 after purchasing an additional 1,296,144 shares during the period. 80.51% of the stock is owned by institutional investors and hedge funds.

DoorDash Price Performance

Shares of DASH opened at $58.29 on Friday. The stock has a market capitalization of $22.63 billion, a P/E ratio of -24.09 and a beta of 1.04. DoorDash, Inc. has a 12-month low of $41.37 and a 12-month high of $235.00. The firm’s 50 day moving average is $52.36 and its 200-day moving average is $63.24.

DoorDash (NYSE:DASHGet Rating) last posted its quarterly earnings data on Thursday, November 3rd. The company reported ($0.77) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.17). The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.64 billion. DoorDash had a negative return on equity of 14.94% and a negative net margin of 14.51%. As a group, equities research analysts forecast that DoorDash, Inc. will post -2.62 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Citigroup dropped their price target on shares of DoorDash from $129.00 to $100.00 in a research note on Friday, November 4th. Royal Bank of Canada cut their price target on DoorDash from $100.00 to $70.00 and set an “outperform” rating on the stock in a research note on Friday, November 4th. DA Davidson reduced their price target on DoorDash from $82.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, November 4th. Mizuho dropped their price objective on DoorDash from $87.00 to $70.00 and set a “neutral” rating on the stock in a report on Friday, November 4th. Finally, Truist Financial reduced their target price on DoorDash from $185.00 to $101.00 and set a “buy” rating for the company in a research note on Monday, October 24th. Nine research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, DoorDash has an average rating of “Moderate Buy” and an average target price of $109.30.

Insider Activity at DoorDash

In other DoorDash news, COO Christopher D. Payne sold 16,443 shares of DoorDash stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $63.83, for a total transaction of $1,049,556.69. Following the transaction, the chief operating officer now directly owns 370,890 shares in the company, valued at approximately $23,673,908.70. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, COO Christopher D. Payne sold 16,443 shares of the stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $63.83, for a total value of $1,049,556.69. Following the completion of the sale, the chief operating officer now directly owns 370,890 shares of the company’s stock, valued at approximately $23,673,908.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Stanley Tang sold 3,954 shares of DoorDash stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $63.79, for a total value of $252,225.66. Following the transaction, the director now directly owns 41,992 shares in the company, valued at approximately $2,678,669.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 159,317 shares of company stock worth $9,660,523. 15.54% of the stock is owned by corporate insiders.

DoorDash Profile

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DoorDash, Inc operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash marketplace, which provides an array of services that enable merchants to solve mission-critical challenges, such as customer acquisition, delivery, insights and analytics, merchandising, payment processing, and customer support; and offers DoorDash Drive, a white-label logistics service; DoorDash Storefront that enables merchants to offer consumers on-demand access to e-commerce.

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Institutional Ownership by Quarter for DoorDash (NYSE:DASH)

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