Hsbc Holdings PLC Purchases 107,906 Shares of DoorDash, Inc. $DASH

by · The Markets Daily

Hsbc Holdings PLC raised its position in shares of DoorDash, Inc. (NASDAQ:DASH – Free Report) by 16.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 771,619 shares of the company’s stock after purchasing an additional 107,906 shares during the period. Hsbc Holdings PLC owned approximately 0.18% of DoorDash worth $189,222,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of DASH. Vanguard Group Inc. raised its holdings in shares of DoorDash by 25.8% during the 1st quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company’s stock worth $7,200,642,000 after buying an additional 8,073,882 shares in the last quarter. AQR Capital Management LLC raised its stake in DoorDash by 442.5% during the first quarter. AQR Capital Management LLC now owns 1,836,122 shares of the company’s stock worth $321,799,000 after acquiring an additional 1,497,636 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of DoorDash by 41.9% in the first quarter. Invesco Ltd. now owns 4,799,851 shares of the company’s stock worth $877,269,000 after acquiring an additional 1,416,194 shares during the last quarter. Nuveen LLC acquired a new stake in shares of DoorDash in the 1st quarter valued at approximately $211,415,000. Finally, Deutsche Bank AG grew its holdings in shares of DoorDash by 111.3% during the 1st quarter. Deutsche Bank AG now owns 2,009,699 shares of the company’s stock valued at $367,313,000 after purchasing an additional 1,058,731 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on DASH. Stifel Nicolaus cut their target price on shares of DoorDash from $255.00 to $253.00 and set a “hold” rating on the stock in a research report on Thursday, November 6th. KeyCorp reissued an “overweight” rating and set a $280.00 price objective on shares of DoorDash in a report on Friday, November 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of DoorDash in a report on Wednesday, October 8th. Barclays cut their price target on DoorDash from $272.00 to $238.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 6th. Finally, JPMorgan Chase & Co. reduced their price target on DoorDash from $325.00 to $300.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, DoorDash has an average rating of “Moderate Buy” and an average target price of $275.62.

View Our Latest Stock Report on DASH

DoorDash Trading Up 1.3%

NASDAQ DASH opened at $198.50 on Friday. The firm has a market capitalization of $85.55 billion, a PE ratio of 100.76 and a beta of 1.70. The business’s 50-day moving average price is $241.74 and its two-hundred day moving average price is $238.22. 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 – Get Free Report) last posted its quarterly earnings data on Wednesday, November 5th. The company reported $0.55 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.13). DoorDash had a return on equity of 9.97% and a net margin of 6.83%.The company had revenue of $3.45 billion during the quarter, compared to analyst estimates of $3.35 billion. During the same period in the prior year, the firm earned $0.38 earnings per share. DoorDash’s revenue was up 27.3% compared to the same quarter last year. On average, analysts expect that DoorDash, Inc. will post 2.22 EPS for the current year.

Insider Activity

In other news, Director Alfred Lin bought 389,047 shares of the company’s stock in a transaction that occurred on Tuesday, November 25th. The shares were acquired at an average price of $193.81 per share, for a total transaction of $75,401,199.07. Following the completion of the acquisition, the director directly owned 389,047 shares in the company, valued at approximately $75,401,199.07. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, COO Prabir Adarkar sold 30,000 shares of the company’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $270.60, for a total transaction of $8,118,000.00. Following the sale, the chief operating officer directly owned 914,547 shares in the company, valued at $247,476,418.20. This trade represents a 3.18% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 756,834 shares of company stock worth $174,539,246 over the last quarter. Company insiders own 5.83% of the company’s stock.

DoorDash Company Profile

(Free Report)

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.

See Also