ICICI Prudential Asset Management Co Ltd Increases Position in DoorDash, Inc. (NASDAQ:DASH)

ICICI Prudential Asset Management Co Ltd lifted its holdings in DoorDash, Inc. (NASDAQ:DASH) by 19.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,021 shares of the company’s stock after purchasing an additional 829 shares during the period. ICICI Prudential Asset Management Co Ltd’s holdings in DoorDash were worth $717,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Empower Advisory Group LLC increased its stake in shares of DoorDash by 25.3% in the 3rd quarter. Empower Advisory Group LLC now owns 57,486 shares of the company’s stock valued at $8,205,000 after purchasing an additional 11,616 shares in the last quarter. Rakuten Securities Inc. boosted its holdings in DoorDash by 302.3% in the 3rd quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $25,000 after buying an additional 130 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in DoorDash by 16.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 782,929 shares of the company’s stock worth $111,747,000 after buying an additional 111,846 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in DoorDash by 13.2% in the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock worth $2,018,584,000 after buying an additional 1,645,186 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its holdings in DoorDash by 93.2% in the 3rd quarter. GSA Capital Partners LLP now owns 7,690 shares of the company’s stock worth $1,098,000 after buying an additional 3,710 shares during the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

DoorDash Stock Down 0.1 %

NASDAQ DASH traded down $0.16 on Wednesday, reaching $176.33. The stock had a trading volume of 635,951 shares, compared to its average volume of 3,815,456. DoorDash, Inc. has a 12-month low of $90.87 and a 12-month high of $177.88. The stock has a fifty day moving average price of $146.13 and a two-hundred day moving average price of $126.06.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.17. The company had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.66 billion. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The firm’s quarterly revenue was up 25.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.19) earnings per share. Research analysts predict that DoorDash, Inc. will post 0.24 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on DASH. Argus began coverage on DoorDash in a report on Tuesday, July 23rd. They issued a “hold” rating on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price objective on shares of DoorDash in a report on Monday, October 7th. JPMorgan Chase & Co. lifted their price objective on DoorDash from $137.00 to $155.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Benchmark lifted their price objective on DoorDash from $152.00 to $173.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Finally, UBS Group boosted their target price on DoorDash from $143.00 to $160.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Ten research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat, DoorDash currently has a consensus rating of “Moderate Buy” and an average price target of $164.03.

Insider Transactions at DoorDash

In other news, CEO Tony Xu sold 81,249 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $147.87, for a total transaction of $12,014,289.63. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the sale, the director now owns 18,089 shares of the company’s stock, valued at approximately $2,355,187.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Tony Xu sold 81,249 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $147.87, for a total value of $12,014,289.63. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 324,539 shares of company stock valued at $46,439,330. 7.92% of the stock is currently 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.