DoorDash, Inc. (NASDAQ:DASH) Position Lifted by Citigroup Inc.

by · The Markets Daily

Citigroup Inc. raised its stake in DoorDash, Inc. (NASDAQ:DASH – Free Report) by 6.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 413,805 shares of the company’s stock after acquiring an additional 25,576 shares during the period. Citigroup Inc.’s holdings in DoorDash were worth $59,062,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of DASH. Raymond James Trust N.A. acquired a new position in DoorDash in the third quarter worth about $216,000. Charles Schwab Investment Management Inc. lifted its holdings in DoorDash by 7.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,341,660 shares of the company’s stock worth $191,495,000 after buying an additional 88,025 shares during the last quarter. Banco Santander S.A. acquired a new position in shares of DoorDash in the 3rd quarter worth approximately $666,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of DoorDash by 7.2% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 38,819 shares of the company’s stock valued at $5,541,000 after acquiring an additional 2,602 shares during the last quarter. Finally, Citizens Financial Group Inc. RI raised its position in shares of DoorDash by 113.2% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 23,057 shares of the company’s stock valued at $3,291,000 after acquiring an additional 12,242 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

Insider Buying and Selling

In related news, CFO Ravi Inukonda sold 7,000 shares of DoorDash stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $127.86, for a total value of $895,020.00. Following the transaction, the chief financial officer now owns 396,152 shares of the company’s stock, valued at approximately $50,651,994.72. This trade represents a 1.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Tony Xu sold 54,166 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $140.06, for a total transaction of $7,586,489.96. The disclosure for this sale can be found here. Insiders have sold 547,753 shares of company stock worth $84,544,996 in the last three months. 7.92% of the stock is currently owned by insiders.

DoorDash Trading Up 2.4 %

NASDAQ:DASH opened at $177.24 on Friday. The company has a 50-day moving average of $153.61 and a 200-day moving average of $128.96. The firm has a market cap of $73.62 billion, a price-to-earnings ratio of -393.87, a price-to-earnings-growth ratio of 13.31 and a beta of 1.67. DoorDash, Inc. has a twelve month low of $92.56 and a twelve month high of $178.16.

DoorDash (NASDAQ:DASH – Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.17. The firm had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The firm’s revenue for the quarter was up 25.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.19) earnings per share. On average, research analysts forecast that DoorDash, Inc. will post 0.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on DASH shares. JPMorgan Chase & Co. boosted their target price on shares of DoorDash from $137.00 to $155.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. JMP Securities boosted their price objective on shares of DoorDash from $160.00 to $190.00 and gave the company a “market outperform” rating in a research report on Thursday, October 31st. Jefferies Financial Group raised their target price on shares of DoorDash from $155.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Mizuho upped their target price on DoorDash from $162.00 to $173.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, Oppenheimer raised their price target on DoorDash from $145.00 to $160.00 and gave the stock an “outperform” rating in a report on Friday, September 27th. Ten equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $164.03.

Check Out Our Latest Analysis on DASH

About DoorDash

(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.

Further Reading

Want to see what other hedge funds are holding DASH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for DoorDash, Inc. (NASDAQ:DASH – Free Report).