Geode Capital Management LLC Has $1.95 Billion Holdings in DoorDash, Inc. $DASH

Geode Capital Management LLC increased its holdings in DoorDash, Inc. (NASDAQ:DASH) by 2.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,951,230 shares of the company’s stock after buying an additional 223,188 shares during the period. Geode Capital Management LLC owned 1.88% of DoorDash worth $1,950,711,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. PNC Financial Services Group Inc. raised its holdings in DoorDash by 119.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 43,269 shares of the company’s stock valued at $10,666,000 after acquiring an additional 23,538 shares in the last quarter. Wealth Alliance LLC bought a new position in shares of DoorDash in the second quarter worth $257,000. Forsta AP Fonden raised its stake in DoorDash by 4.2% in the second quarter. Forsta AP Fonden now owns 72,700 shares of the company’s stock valued at $17,921,000 after purchasing an additional 2,900 shares in the last quarter. TimesSquare Capital Management LLC lifted its position in DoorDash by 1.9% during the second quarter. TimesSquare Capital Management LLC now owns 365,558 shares of the company’s stock worth $90,114,000 after purchasing an additional 6,740 shares during the period. Finally, KBC Group NV grew its stake in DoorDash by 256.3% during the second quarter. KBC Group NV now owns 190,926 shares of the company’s stock worth $47,065,000 after buying an additional 137,344 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

Insider Buying and Selling at DoorDash

In other news, COO Prabir Adarkar sold 24,968 shares of DoorDash stock in a transaction on Tuesday, October 14th. The shares were sold at an average price of $272.32, for a total value of $6,799,285.76. Following the completion of the sale, the chief operating officer owned 909,579 shares in the company, valued at $247,696,553.28. The trade was a 2.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Shona L. Brown sold 1,250 shares of the stock in a transaction on Thursday, October 9th. The stock was sold at an average price of $277.47, for a total transaction of $346,837.50. Following the transaction, the director directly owned 37,252 shares in the company, valued at approximately $10,336,312.44. This represents a 3.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 825,277 shares of company stock valued at $205,015,591. 5.83% of the stock is owned by corporate insiders.

Analyst Ratings Changes

DASH has been the subject of several research analyst reports. The Goldman Sachs Group lowered their price objective on shares of DoorDash from $315.00 to $279.00 and set a “buy” rating for the company in a research report on Friday, November 7th. Stifel Nicolaus dropped their target price on shares of DoorDash from $255.00 to $253.00 and set a “hold” rating for the company in a report on Thursday, November 6th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of DoorDash in a report on Wednesday, October 8th. DA Davidson reissued a “neutral” rating and issued a $260.00 price objective on shares of DoorDash in a research note on Thursday, November 6th. Finally, Barclays dropped their price target on DoorDash from $272.00 to $238.00 and set an “equal weight” rating for the company in a research note on Thursday, November 6th. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, DoorDash has a consensus rating of “Moderate Buy” and an average target price of $279.74.

DoorDash Stock Down 2.1%

Shares of DASH opened at $196.51 on Thursday. The company has a market capitalization of $83.95 billion, a PE ratio of 99.75 and a beta of 1.70. The stock’s 50-day moving average price is $256.01 and its two-hundred day moving average price is $237.98. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.29. DoorDash, Inc. has a 12 month low of $155.40 and a 12 month high of $285.50.

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

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.