Legal & General Group Plc Has $509.43 Million Stock Holdings in DoorDash, Inc. $DASH

Legal & General Group Plc decreased its stake in DoorDash, Inc. (NASDAQ:DASH) by 0.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,249,312 shares of the company’s stock after selling 16,094 shares during the period. Legal & General Group Plc’s holdings in DoorDash were worth $509,425,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Physician Wealth Advisors Inc. increased its stake in shares of DoorDash by 284.0% in the third quarter. Physician Wealth Advisors Inc. now owns 96 shares of the company’s stock valued at $26,000 after buying an additional 71 shares during the period. Eastern Bank grew its stake in DoorDash by 714.3% during the fourth quarter. Eastern Bank now owns 114 shares of the company’s stock worth $26,000 after purchasing an additional 100 shares during the period. Sunbelt Securities Inc. grew its stake in DoorDash by 124.1% during the third quarter. Sunbelt Securities Inc. now owns 121 shares of the company’s stock worth $33,000 after purchasing an additional 67 shares during the period. ST Germain D J Co. Inc. acquired a new stake in DoorDash during the fourth quarter worth approximately $29,000. Finally, Morse Asset Management Inc acquired a new stake in DoorDash during the third quarter worth approximately $36,000. Institutional investors and hedge funds own 90.64% of the company’s stock.

Insider Buying and Selling at DoorDash

In other DoorDash news, Director Stanley Tang sold 21,433 shares of the firm’s stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $150.00, for a total value of $3,214,950.00. Following the completion of the sale, the director owned 19,279 shares of the company’s stock, valued at approximately $2,891,850. This trade represents a 52.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Prabir Adarkar sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $188.34, for a total value of $1,883,400.00. Following the completion of the sale, the chief operating officer directly owned 843,678 shares of the company’s stock, valued at $158,898,314.52. This trade represents a 1.17% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 42,683 shares of company stock valued at $6,908,813. Company insiders own 5.83% of the company’s stock.

DoorDash Stock Performance

Shares of DoorDash stock opened at $160.25 on Tuesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.43 and a current ratio of 1.43. DoorDash, Inc. has a 52 week low of $143.30 and a 52 week high of $285.50. The stock has a 50 day moving average price of $162.93 and a two-hundred day moving average price of $188.71. The stock has a market capitalization of $69.82 billion, a PE ratio of 76.31 and a beta of 1.87.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The firm had revenue of $4.04 billion during the quarter, compared to analysts’ expectations of $4.15 billion. During the same quarter last year, the firm posted $0.44 earnings per share. The company’s revenue for the quarter was up 33.1% compared to the same quarter last year. As a group, equities analysts anticipate that DoorDash, Inc. will post 2.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

DASH has been the subject of several recent analyst reports. Piper Sandler decreased their target price on DoorDash from $220.00 to $205.00 and set a “neutral” rating for the company in a research note on Thursday, May 7th. Citigroup decreased their target price on DoorDash from $280.00 to $250.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Moffett Nathanson set a $276.00 target price on DoorDash in a research note on Wednesday, April 15th. Rothschild & Co Redburn set a $350.00 target price on DoorDash in a research note on Tuesday, May 12th. Finally, Zacks Research raised DoorDash from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 12th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and nine have issued a Hold 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 $259.58.

About DoorDash

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.