Legal & General Group Plc Has $527.27 Million Stake in DoorDash, Inc. $DASH

Legal & General Group Plc trimmed its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 1.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 2,138,949 shares of the company’s stock after selling 21,074 shares during the quarter. Legal & General Group Plc’s holdings in DoorDash were worth $527,273,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Swiss National Bank raised its position in shares of DoorDash by 9.6% during the 2nd quarter. Swiss National Bank now owns 1,084,600 shares of the company’s stock valued at $267,365,000 after acquiring an additional 95,300 shares during the last quarter. Handelsbanken Fonder AB boosted its position in shares of DoorDash by 14.1% in the 2nd quarter. Handelsbanken Fonder AB now owns 160,991 shares of the company’s stock worth $39,686,000 after purchasing an additional 19,956 shares during the last quarter. Prudential PLC grew its stake in shares of DoorDash by 97.5% during the second quarter. Prudential PLC now owns 13,359 shares of the company’s stock worth $3,293,000 after purchasing an additional 6,595 shares during the period. Westfield Capital Management Co. LP bought a new stake in DoorDash in the second quarter valued at about $90,753,000. Finally, Greenland Capital Management LP increased its holdings in DoorDash by 637.5% in the second quarter. Greenland Capital Management LP now owns 23,572 shares of the company’s stock valued at $5,811,000 after purchasing an additional 20,376 shares during the last quarter. 90.64% of the stock is owned by institutional investors.

DoorDash Stock Performance

Shares of DASH stock opened at $189.63 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.04 and a current ratio of 2.04. DoorDash, Inc. has a 52 week low of $155.40 and a 52 week high of $285.50. The company’s 50 day moving average price is $248.53 and its two-hundred day moving average price is $237.89. The company has a market capitalization of $81.73 billion, a P/E ratio of 96.26 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings data 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 company had revenue of $3.45 billion for the quarter, compared to the consensus estimate of $3.35 billion. During the same period in the prior year, the company earned $0.38 EPS. The firm’s revenue was up 27.3% on a year-over-year basis. On average, analysts expect that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Insider Transactions at DoorDash

In other DoorDash news, COO Prabir Adarkar sold 41,881 shares of DoorDash stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $245.82, for a total value of $10,295,187.42. Following the sale, the chief operating officer owned 914,547 shares of the company’s stock, valued at $224,813,943.54. This trade represents a 4.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Stanley Tang sold 45,410 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $243.31, for a total value of $11,048,707.10. The SEC filing for this sale provides additional information. Insiders have sold a total of 499,707 shares of company stock worth $127,140,411 in the last 90 days. Company insiders own 5.83% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on DASH. Bank of America decreased their target price on DoorDash from $325.00 to $305.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. BTIG Research reiterated a “buy” rating and issued a $315.00 price target on shares of DoorDash in a research report on Thursday, November 6th. Jefferies Financial Group upgraded shares of DoorDash from a “hold” rating to a “buy” rating in a report on Wednesday. Guggenheim reiterated a “buy” rating and issued a $280.00 target price on shares of DoorDash in a report on Wednesday. Finally, Evercore ISI reissued an “outperform” rating and set a $360.00 price target (up from $240.00) on shares of DoorDash in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $275.62.

DoorDash 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.