Invesco Ltd. Grows Position in DoorDash, Inc. $DASH

Invesco Ltd. grew its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 12.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,375,480 shares of the company’s stock after acquiring an additional 575,629 shares during the quarter. Invesco Ltd. owned about 1.27% of DoorDash worth $1,325,110,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in DoorDash by 4.6% in the 2nd quarter. Vanguard Group Inc. now owns 41,190,085 shares of the company’s stock worth $10,153,768,000 after buying an additional 1,792,799 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of DoorDash by 2.9% during the 2nd quarter. Geode Capital Management LLC now owns 7,951,230 shares of the company’s stock worth $1,950,711,000 after acquiring an additional 223,188 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of DoorDash by 15.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,907,970 shares of the company’s stock worth $897,031,000 after acquiring an additional 641,601 shares during the last quarter. Norges Bank purchased a new position in DoorDash in the second quarter worth $1,185,576,000. Finally, Northern Trust Corp increased its stake in DoorDash by 38.2% in the first quarter. Northern Trust Corp now owns 3,309,237 shares of the company’s stock valued at $604,829,000 after acquiring an additional 915,512 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors.

DoorDash Stock Performance

Shares of DASH stock opened at $216.98 on Wednesday. The company has a market capitalization of $93.52 billion, a P/E ratio of 110.14 and a beta of 1.72. DoorDash, Inc. has a fifty-two week low of $155.40 and a fifty-two week high of $285.50. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.04 and a current ratio of 2.04. The stock has a 50 day moving average price of $239.62 and a two-hundred day moving average price of $238.96.

DoorDash (NASDAQ:DASH) last issued its earnings results on Wednesday, November 5th. The company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.68 by ($0.13). DoorDash had a return on equity of 9.97% and a net margin of 6.83%.The firm had revenue of $3.45 billion during the quarter, compared to the consensus estimate of $3.35 billion. During the same quarter in the prior year, the business posted $0.38 EPS. The firm’s revenue for the quarter was up 27.3% on a year-over-year basis. Analysts expect that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Analyst Ratings Changes

DASH has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of DoorDash in a research note on Wednesday, October 8th. Wedbush raised DoorDash from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $160.00 to $260.00 in a report on Thursday, November 13th. KeyCorp restated an “overweight” rating and issued a $280.00 target price on shares of DoorDash in a research report on Friday, November 21st. Susquehanna reduced their price target on shares of DoorDash from $300.00 to $250.00 and set a “positive” rating on the stock in a research report on Friday, November 7th. Finally, Mizuho decreased their price target on shares of DoorDash from $350.00 to $320.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 12th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, DoorDash has an average rating of “Moderate Buy” and an average price target of $275.62.

Insider Transactions at DoorDash

In other news, Director Stanley Tang sold 45,410 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $268.23, for a total transaction of $12,180,324.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Prabir Adarkar sold 30,000 shares of the firm’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $270.60, for a total value of $8,118,000.00. Following the completion of the sale, the chief operating officer directly owned 914,547 shares in the company, valued at $247,476,418.20. The trade was a 3.18% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 609,153 shares of company stock valued at $138,466,615. Company insiders own 5.83% of the company’s stock.

About DoorDash

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.