Principal Financial Group Inc. Sells 39,978 Shares of DoorDash, Inc. $DASH

Principal Financial Group Inc. lessened its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 8.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 409,409 shares of the company’s stock after selling 39,978 shares during the quarter. Principal Financial Group Inc.’s holdings in DoorDash were worth $111,355,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GFG Capital LLC acquired a new stake in shares of DoorDash during the second quarter worth about $30,000. Sound Income Strategies LLC increased its stake in DoorDash by 2,760.0% during the 3rd quarter. Sound Income Strategies LLC now owns 143 shares of the company’s stock worth $39,000 after purchasing an additional 138 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its holdings in DoorDash by 74.3% during the 3rd quarter. Annis Gardner Whiting Capital Advisors LLC now owns 176 shares of the company’s stock worth $48,000 after buying an additional 75 shares during the period. Asset Planning Inc bought a new position in DoorDash in the third quarter valued at approximately $50,000. Finally, NewSquare Capital LLC lifted its stake in DoorDash by 610.3% in the second quarter. NewSquare Capital LLC now owns 206 shares of the company’s stock valued at $51,000 after buying an additional 177 shares in the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on DASH shares. Citigroup reaffirmed a “market outperform” rating on shares of DoorDash in a research report on Monday, November 24th. Zacks Research lowered DoorDash from a “hold” rating to a “strong sell” rating in a report on Monday, January 5th. Morgan Stanley upped their price objective on DoorDash from $300.00 to $330.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. Susquehanna dropped their target price on DoorDash from $300.00 to $250.00 and set a “positive” rating on the stock in a research report on Friday, November 7th. Finally, KeyCorp reduced their price target on DoorDash from $280.00 to $275.00 and set an “overweight” rating for the company in a research report on Tuesday, January 20th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $279.09.

DoorDash Trading Up 1.5%

Shares of DoorDash stock opened at $207.67 on Tuesday. The stock has a market cap of $89.51 billion, a P/E ratio of 105.42 and a beta of 1.70. DoorDash, Inc. has a 12-month low of $155.40 and a 12-month high of $285.50. The business’s 50 day moving average is $218.14 and its 200-day moving average is $237.82. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.29.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.13). The firm had revenue of $3.45 billion during the quarter, compared to analyst estimates of $3.35 billion. DoorDash had a net margin of 6.83% and a return on equity of 9.97%. The business’s revenue was up 27.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.38 EPS. Equities research analysts predict that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Insider Buying and Selling at DoorDash

In other news, CEO Tony Xu sold 288,410 shares of DoorDash stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $196.04, for a total transaction of $56,539,896.40. Following the completion of the transaction, the chief executive officer directly owned 232,040 shares in the company, valued at approximately $45,489,121.60. The trade was a 55.42% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Alfred Lin acquired 389,047 shares of DoorDash stock in a transaction on Tuesday, November 25th. The shares were bought at an average cost of $193.81 per share, with a total value of $75,401,199.07. Following the completion of the transaction, the director owned 389,047 shares of the company’s stock, valued at approximately $75,401,199.07. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have sold a total of 557,412 shares of company stock valued at $114,778,269 in the last three months. Corporate insiders own 5.83% of the company’s stock.

DoorDash Profile

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.