BlackRock Inc. Grows Position in DoorDash, Inc. (NYSE:DASH)

BlackRock Inc. boosted its stake in shares of DoorDash, Inc. (NYSE:DASH) by 138.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,219,652 shares of the company’s stock after purchasing an additional 3,607,379 shares during the period. BlackRock Inc. owned approximately 1.84% of DoorDash worth $1,281,123,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in DASH. Envestnet Asset Management Inc. boosted its holdings in shares of DoorDash by 232.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 13,309 shares of the company’s stock valued at $2,373,000 after acquiring an additional 9,300 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of DoorDash by 40.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 524 shares of the company’s stock valued at $93,000 after acquiring an additional 151 shares during the last quarter. Rafferty Asset Management LLC boosted its holdings in shares of DoorDash by 28.1% in the 2nd quarter. Rafferty Asset Management LLC now owns 6,564 shares of the company’s stock valued at $1,171,000 after acquiring an additional 1,439 shares during the last quarter. Citigroup Inc. boosted its holdings in shares of DoorDash by 144.6% in the 2nd quarter. Citigroup Inc. now owns 45,803 shares of the company’s stock valued at $8,168,000 after acquiring an additional 148,466 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System purchased a new stake in shares of DoorDash in the 2nd quarter valued at $14,226,000. 75.11% of the stock is currently owned by institutional investors and hedge funds.

DoorDash stock opened at $131.53 on Friday. DoorDash, Inc. has a 52-week low of $110.13 and a 52-week high of $257.25. The company has a fifty day simple moving average of $169.39 and a 200-day simple moving average of $186.09.

DoorDash (NYSE:DASH) last released its earnings results on Tuesday, November 9th. The company reported ($0.30) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.27) by ($0.03). The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.18 billion. Equities research analysts anticipate that DoorDash, Inc. will post -1.18 EPS for the current fiscal year.

In related news, CEO Tony Xu sold 80,000 shares of the company’s stock in a transaction dated Tuesday, January 11th. The shares were sold at an average price of $141.90, for a total value of $11,352,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Stanley Tang sold 55,000 shares of the company’s stock in a transaction dated Monday, October 18th. The shares were sold at an average price of $214.67, for a total transaction of $11,806,850.00. The disclosure for this sale can be found here. Insiders have sold 10,677,286 shares of company stock valued at $2,152,024,064 in the last ninety days. Insiders own 15.54% of the company’s stock.

Several analysts have recently commented on DASH shares. JPMorgan Chase & Co. dropped their price objective on shares of DoorDash from $220.00 to $175.00 and set a “neutral” rating on the stock in a report on Wednesday, December 15th. Mizuho boosted their target price on shares of DoorDash from $175.00 to $205.00 and gave the company a “neutral” rating in a research note on Wednesday, November 10th. They noted that the move was a valuation call. Zacks Investment Research cut shares of DoorDash from a “hold” rating to a “sell” rating in a research note on Tuesday. Truist Securities boosted their target price on shares of DoorDash from $250.00 to $260.00 and gave the company a “buy” rating in a research note on Wednesday, November 10th. Finally, Evercore ISI upgraded shares of DoorDash from an “in-line” rating to an “outperform” rating and set a $256.00 target price for the company in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $228.68.

About DoorDash

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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