Raymond James Financial Services Advisors Inc. Increases Stake in DoorDash, Inc. (NYSE:DASH)

Raymond James Financial Services Advisors Inc. boosted its stake in shares of DoorDash, Inc. (NYSE:DASHGet Rating) by 22.8% in the 3rd quarter, Holdings Channel reports. The fund owned 22,228 shares of the company’s stock after buying an additional 4,127 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in DoorDash were worth $1,099,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Himension Capital Singapore PTE. LTD. grew its holdings in DoorDash by 146.9% in the second quarter. Himension Capital Singapore PTE. LTD. now owns 3,930,025 shares of the company’s stock valued at $252,190,000 after purchasing an additional 2,338,233 shares during the period. Vanguard Group Inc. grew its holdings 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. Renaissance Technologies LLC grew its holdings in DoorDash by 259.1% in the second quarter. Renaissance Technologies LLC now owns 2,262,900 shares of the company’s stock valued at $145,210,000 after purchasing an additional 1,632,700 shares during the period. State Street Corp grew its holdings in DoorDash by 49.4% in the second quarter. State Street Corp now owns 4,358,288 shares of the company’s stock valued at $279,671,000 after purchasing an additional 1,441,028 shares during the period. Finally, Darsana Capital Partners LP grew its holdings in DoorDash by 100.0% in the second quarter. Darsana Capital Partners LP now owns 2,500,000 shares of the company’s stock valued at $160,425,000 after purchasing an additional 1,250,000 shares during the period. 72.65% of the stock is currently owned by hedge funds and other institutional investors.

DoorDash Stock Performance

NYSE DASH opened at $58.02 on Friday. DoorDash, Inc. has a fifty-two week low of $41.37 and a fifty-two week high of $130.20. The firm has a market capitalization of $22.52 billion, a P/E ratio of -23.98 and a beta of 1.35. The stock’s fifty day moving average is $53.63 and its two-hundred day moving average is $58.41.

DoorDash (NYSE:DASHGet Rating) last posted its earnings results on Thursday, November 3rd. The company reported ($0.77) EPS for the quarter, missing analysts’ consensus estimates of ($0.60) by ($0.17). DoorDash had a negative net margin of 14.51% and a negative return on equity of 14.94%. The business had revenue of $1.70 billion during the quarter, compared to analysts’ expectations of $1.64 billion. As a group, sell-side analysts forecast that DoorDash, Inc. will post -2.69 EPS for the current year.

Analysts Set New Price Targets

DASH has been the topic of several research analyst reports. Royal Bank of Canada lowered DoorDash from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $70.00 to $60.00 in a report on Friday, December 2nd. The Goldman Sachs Group dropped their price objective on DoorDash from $84.00 to $69.00 and set a “neutral” rating on the stock in a report on Monday, November 7th. Piper Sandler lowered DoorDash from a “neutral” rating to an “underweight” rating and dropped their price objective for the company from $227.00 to $40.00 in a report on Monday, January 9th. Morgan Stanley lowered their price target on DoorDash from $67.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Finally, Citigroup lowered their price target on DoorDash from $129.00 to $100.00 in a research note on Friday, November 4th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, DoorDash currently has an average rating of “Moderate Buy” and a consensus price target of $90.33.

Insider Buying and Selling at DoorDash

In other DoorDash news, COO Christopher D. Payne sold 47,093 shares of DoorDash stock in a transaction on Monday, January 9th. The stock was sold at an average price of $47.79, for a total value of $2,250,574.47. Following the sale, the chief operating officer now owns 353,943 shares in the company, valued at $16,914,935.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Stanley Tang sold 4,076 shares of the business’s stock in a transaction on Monday, November 21st. The stock was sold at an average price of $55.54, for a total value of $226,381.04. Following the sale, the director now owns 31,217 shares in the company, valued at approximately $1,733,792.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Christopher D. Payne sold 47,093 shares of the business’s stock in a transaction on Monday, January 9th. The shares were sold at an average price of $47.79, for a total value of $2,250,574.47. Following the completion of the sale, the chief operating officer now owns 353,943 shares in the company, valued at approximately $16,914,935.97. The disclosure for this sale can be found here. Insiders have sold 146,605 shares of company stock worth $7,622,620 over the last quarter. 12.10% of the stock is currently owned by company insiders.

DoorDash Company 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.

See Also

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Institutional Ownership by Quarter for DoorDash (NYSE:DASH)

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