Allspring Global Investments Holdings LLC Raises Stock Holdings in DoorDash, Inc. (NASDAQ:DASH)

Allspring Global Investments Holdings LLC increased its position in DoorDash, Inc. (NASDAQ:DASH) by 216.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,082,362 shares of the company’s stock after buying an additional 739,961 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.26% of DoorDash worth $154,486,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of DASH. Janus Henderson Group PLC lifted its position in DoorDash by 11,416.7% in the 1st quarter. Janus Henderson Group PLC now owns 3,455,116 shares of the company’s stock worth $475,837,000 after buying an additional 3,425,115 shares during the last quarter. Dragoneer Investment Group LLC lifted its position in DoorDash by 77.9% in the 2nd quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company’s stock worth $309,755,000 after buying an additional 1,246,567 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in DoorDash by 595.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 891,879 shares of the company’s stock worth $122,830,000 after buying an additional 763,579 shares during the last quarter. Jupiter Asset Management Ltd. lifted its position in DoorDash by 3,284.7% in the 2nd quarter. Jupiter Asset Management Ltd. now owns 729,779 shares of the company’s stock worth $79,385,000 after buying an additional 708,218 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. bought a new stake in DoorDash in the 1st quarter worth approximately $92,141,000. Institutional investors own 90.64% of the company’s stock.

Insider Activity at DoorDash

In related news, CEO Tony Xu sold 81,249 shares of DoorDash stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $147.87, for a total value of $12,014,289.63. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other DoorDash news, CEO Tony Xu sold 81,249 shares of DoorDash stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $147.87, for a total value of $12,014,289.63. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Shona L. Brown sold 5,005 shares of DoorDash stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $120.00, for a total value of $600,600.00. Following the completion of the transaction, the director now owns 65,186 shares in the company, valued at $7,822,320. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 390,710 shares of company stock worth $54,472,120 over the last three months. 7.92% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

DASH has been the subject of a number of recent research reports. JMP Securities boosted their target price on DoorDash from $145.00 to $160.00 and gave the stock a “market outperform” rating in a research report on Monday, September 30th. Susquehanna boosted their price objective on DoorDash from $135.00 to $140.00 and gave the company a “positive” rating in a research report on Monday, August 5th. Keefe, Bruyette & Woods upgraded DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 price objective for the company in a research report on Wednesday, September 25th. UBS Group boosted their price objective on DoorDash from $143.00 to $160.00 and gave the company a “neutral” rating in a research report on Friday. Finally, KeyCorp upgraded DoorDash from a “sector weight” rating to an “overweight” rating and set a $177.00 price objective for the company in a research report on Wednesday, September 25th. Ten research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat.com, DoorDash has a consensus rating of “Moderate Buy” and a consensus price target of $148.16.

DoorDash Price Performance

Shares of NASDAQ:DASH traded up $0.58 on Friday, hitting $151.98. 1,791,278 shares of the company’s stock were exchanged, compared to its average volume of 3,868,463. DoorDash, Inc. has a 12 month low of $69.90 and a 12 month high of $152.52. The stock has a market capitalization of $62.15 billion, a price-to-earnings ratio of -140.72, a price-to-earnings-growth ratio of 425.82 and a beta of 1.70. The business’s 50 day simple moving average is $135.26 and its two-hundred day simple moving average is $122.96.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.38) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.29). The firm had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.54 billion. DoorDash had a negative net margin of 4.24% and a negative return on equity of 5.91%. The business’s revenue was up 23.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.44) earnings per share. Equities analysts forecast that DoorDash, Inc. will post 0.01 EPS for the current fiscal year.

DoorDash Company Profile

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.