Lazard Asset Management LLC Boosts Position in DoorDash, Inc. (NASDAQ:DASH)

Lazard Asset Management LLC boosted its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 126.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 24,395 shares of the company’s stock after acquiring an additional 13,599 shares during the quarter. Lazard Asset Management LLC’s holdings in DoorDash were worth $4,091,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in DoorDash by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 31,323,404 shares of the company’s stock valued at $5,254,501,000 after acquiring an additional 317,502 shares during the last quarter. Capital World Investors grew its holdings in DoorDash by 26.4% during the fourth quarter. Capital World Investors now owns 12,153,265 shares of the company’s stock valued at $2,038,712,000 after purchasing an additional 2,538,160 shares during the period. Franklin Resources Inc. grew its holdings in DoorDash by 25.0% during the fourth quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company’s stock valued at $796,781,000 after purchasing an additional 949,414 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in DoorDash by 67.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company’s stock valued at $780,858,000 after purchasing an additional 1,869,866 shares during the period. Finally, Geode Capital Management LLC grew its holdings in DoorDash by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 4,558,821 shares of the company’s stock valued at $763,198,000 after purchasing an additional 86,667 shares during the period. Hedge funds and other institutional investors own 90.64% of the company’s stock.

DoorDash Stock Performance

Shares of NASDAQ DASH opened at $197.10 on Friday. The business’s 50 day moving average price is $185.67 and its 200-day moving average price is $181.82. DoorDash, Inc. has a fifty-two week low of $99.32 and a fifty-two week high of $215.25. The company has a market cap of $82.80 billion, a price-to-earnings ratio of 730.00 and a beta of 1.68.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.39 by $0.05. The company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.10 billion. DoorDash had a return on equity of 1.67% and a net margin of 1.15%. DoorDash’s quarterly revenue was up 20.7% on a year-over-year basis. During the same period last year, the business posted ($0.06) EPS. Sell-side analysts predict that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

DASH has been the subject of several recent research reports. Wells Fargo & Company cut their price target on DoorDash from $201.00 to $198.00 and set an “equal weight” rating for the company in a report on Wednesday, May 7th. Morgan Stanley dropped their price objective on DoorDash from $245.00 to $210.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Citigroup reaffirmed an “outperform” rating on shares of DoorDash in a research note on Monday, April 28th. KeyCorp dropped their price objective on DoorDash from $240.00 to $230.00 and set an “overweight” rating for the company in a research note on Tuesday, April 15th. Finally, Needham & Company LLC upped their price objective on DoorDash from $225.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. Ten analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $209.97.

Insiders Place Their Bets

In other DoorDash news, Director Stanley Tang sold 45,410 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $181.21, for a total transaction of $8,228,746.10. Following the sale, the director now owns 18,285 shares of the company’s stock, valued at approximately $3,313,424.85. This trade represents a 71.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Keith Yandell sold 8,116 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $203.45, for a total value of $1,651,200.20. Following the sale, the insider now directly owns 105,162 shares in the company, valued at $21,395,208.90. This trade represents a 7.16% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 158,573 shares of company stock worth $30,407,073 in the last ninety days. 5.83% of the stock is owned by company insiders.

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.