Candriam S.C.A. Grows Stock Holdings in DoorDash, Inc. $DASH

Candriam S.C.A. increased its stake in DoorDash, Inc. (NASDAQ:DASH) by 35.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 35,545 shares of the company’s stock after purchasing an additional 9,285 shares during the quarter. Candriam S.C.A.’s holdings in DoorDash were worth $5,337,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Eastern Bank increased its position in shares of DoorDash by 714.3% during the fourth quarter. Eastern Bank now owns 114 shares of the company’s stock valued at $26,000 after buying an additional 100 shares during the period. MV Capital Management Inc. purchased a new position in DoorDash during the fourth quarter valued at approximately $26,000. Swiss RE Ltd. bought a new stake in DoorDash during the 4th quarter worth approximately $28,000. ST Germain D J Co. Inc. purchased a new stake in DoorDash in the 4th quarter worth approximately $29,000. Finally, Kemnay Advisory Services Inc. bought a new position in DoorDash in the 4th quarter valued at $32,000. 90.64% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other DoorDash news, COO Prabir Adarkar sold 21,739 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $155.25, for a total value of $3,374,979.75. Following the sale, the chief operating officer directly owned 959,076 shares of the company’s stock, valued at approximately $148,896,549. The trade was a 2.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Andy Fang sold 5,000 shares of the stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $180.00, for a total transaction of $900,000.00. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 84,927 shares of company stock worth $15,124,932 over the last 90 days. Corporate insiders own 5.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on DASH shares. Truist Financial lowered their price objective on DoorDash from $340.00 to $330.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. UBS Group lifted their price target on DoorDash from $206.00 to $214.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Stifel Nicolaus decreased their price objective on shares of DoorDash from $215.00 to $185.00 and set a “hold” rating on the stock in a research report on Monday, April 13th. Susquehanna dropped their price objective on shares of DoorDash from $250.00 to $225.00 and set a “positive” rating for the company in a report on Friday, May 8th. Finally, Weiss Ratings upgraded DoorDash from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat, DoorDash presently has a consensus rating of “Moderate Buy” and an average target price of $256.08.

DoorDash Trading Down 1.2%

DASH opened at $189.57 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.43 and a quick ratio of 1.43. DoorDash, Inc. has a one year low of $143.30 and a one year high of $285.50. The firm has a market capitalization of $82.60 billion, a price-to-earnings ratio of 90.27 and a beta of 1.78. The business has a 50 day simple moving average of $168.18 and a two-hundred day simple moving average of $178.57.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.06. DoorDash had a net margin of 6.29% and a return on equity of 9.58%. The business had revenue of $4.04 billion for the quarter, compared to analysts’ expectations of $4.15 billion. During the same quarter in the previous year, the business posted $0.44 earnings per share. The firm’s revenue for the quarter was up 33.1% compared to the same quarter last year. Analysts predict that DoorDash, Inc. will post 2.41 EPS for the current year.

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.