Westpac Banking Corp Increases Position in DoorDash, Inc. $DASH

Westpac Banking Corp increased its position in DoorDash, Inc. (NASDAQ:DASH) by 165.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,672 shares of the company’s stock after acquiring an additional 10,387 shares during the period. Westpac Banking Corp’s holdings in DoorDash were worth $4,110,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Night Squared LP acquired a new stake in shares of DoorDash in the first quarter valued at about $2,780,000. Public Investment Fund lifted its stake in DoorDash by 68.3% in the 1st quarter. Public Investment Fund now owns 821,389 shares of the company’s stock valued at $150,125,000 after buying an additional 333,369 shares in the last quarter. Mutual of America Capital Management LLC acquired a new stake in DoorDash in the 1st quarter worth about $7,200,000. Ardmore Road Asset Management LP boosted its holdings in DoorDash by 6.7% in the 1st quarter. Ardmore Road Asset Management LP now owns 80,000 shares of the company’s stock worth $14,622,000 after buying an additional 5,000 shares during the last quarter. Finally, Junto Capital Management LP purchased a new stake in DoorDash during the 1st quarter worth approximately $29,261,000. Institutional investors and hedge funds own 90.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DASH. Zacks Research lowered DoorDash from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. Susquehanna lowered their target price on shares of DoorDash from $300.00 to $250.00 and set a “positive” rating on the stock in a research note on Friday, November 7th. Sanford C. Bernstein upped their target price on shares of DoorDash from $210.00 to $265.00 and gave the stock an “outperform” rating in a report on Monday, July 21st. Wells Fargo & Company decreased their price target on shares of DoorDash from $301.00 to $239.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 6th. Finally, UBS Group dropped their price objective on shares of DoorDash from $316.00 to $241.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and eleven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, DoorDash currently has an average rating of “Moderate Buy” and an average target price of $279.00.

DoorDash Trading Up 6.0%

Shares of DoorDash stock opened at $206.96 on Friday. The stock has a 50 day moving average of $254.14 and a 200 day moving average of $238.14. 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 firm has a market capitalization of $89.20 billion, a price-to-earnings ratio of 105.06 and a beta of 1.70. DoorDash, Inc. has a fifty-two week low of $155.40 and a fifty-two week high of $285.50.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Wednesday, November 5th. The company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.13). The business 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 for the quarter was up 27.3% on a year-over-year basis. During the same period last year, the company earned $0.38 EPS. As a group, research analysts predict that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Insider Transactions at DoorDash

In other DoorDash news, Director Andy Fang sold 30,000 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $244.39, for a total transaction of $7,331,700.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ravi Inukonda sold 1,425 shares of DoorDash stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $263.86, for a total transaction of $376,000.50. Following the sale, the chief financial officer owned 214,147 shares of the company’s stock, valued at approximately $56,504,827.42. This represents a 0.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 791,110 shares of company stock worth $196,549,692 in the last 90 days. 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.