Pallas Capital Advisors LLC Raises Position in DoorDash, Inc. (NASDAQ:DASH)

Pallas Capital Advisors LLC raised its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 3.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,465 shares of the company’s stock after acquiring an additional 88 shares during the quarter. Pallas Capital Advisors LLC’s holdings in DoorDash were worth $414,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Baillie Gifford & Co. lifted its stake in shares of DoorDash by 13.2% in the 3rd quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock valued at $2,018,584,000 after purchasing an additional 1,645,186 shares during the period. State Street Corp raised its holdings in DoorDash by 3.8% in the third quarter. State Street Corp now owns 7,395,891 shares of the company’s stock worth $1,055,616,000 after purchasing an additional 272,659 shares in the last quarter. Janus Henderson Group PLC lifted its position in DoorDash by 14.5% during the third quarter. Janus Henderson Group PLC now owns 5,533,288 shares of the company’s stock valued at $789,766,000 after buying an additional 700,465 shares during the period. Geode Capital Management LLC grew its position in shares of DoorDash by 6.4% in the 3rd quarter. Geode Capital Management LLC now owns 4,472,154 shares of the company’s stock worth $636,652,000 after buying an additional 267,855 shares during the period. Finally, Franklin Resources Inc. increased its stake in shares of DoorDash by 15.2% during the third quarter. Franklin Resources Inc. now owns 3,800,396 shares of the company’s stock valued at $570,135,000 after purchasing an additional 501,905 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Insiders Place Their Bets

In other DoorDash news, CEO Tony Xu sold 108,332 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $170.25, for a total transaction of $18,443,523.00. Following the completion of the sale, the chief executive officer now directly owns 1,500 shares in the company, valued at $255,375. This represents a 98.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $168.32, for a total transaction of $8,416,000.00. Following the completion of the sale, the director now owns 16,176 shares in the company, valued at $2,722,744.32. This represents a 75.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,019,321 shares of company stock worth $177,554,465 over the last ninety days. 7.92% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on DASH. Bank of America raised their price target on shares of DoorDash from $168.00 to $172.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $160.00 price target on shares of DoorDash in a research report on Monday, October 7th. Raymond James assumed coverage on DoorDash in a report on Tuesday, September 24th. They set an “outperform” rating and a $155.00 price target for the company. Needham & Company LLC increased their price objective on shares of DoorDash from $145.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Keefe, Bruyette & Woods upgraded DoorDash from a “market perform” rating to an “outperform” rating and set a $177.00 target price for the company in a research report on Wednesday, September 25th. Nine investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $174.30.

DoorDash Stock Up 0.6 %

DASH opened at $169.33 on Wednesday. The company’s 50-day moving average price is $173.31 and its 200 day moving average price is $144.48. DoorDash, Inc. has a fifty-two week low of $99.32 and a fifty-two week high of $181.78. The firm has a market cap of $70.34 billion, a price-to-earnings ratio of -376.29, a price-to-earnings-growth ratio of 13.46 and a beta of 1.71.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.17. DoorDash had a negative return on equity of 2.41% and a negative net margin of 1.69%. The company had revenue of $2.71 billion during the quarter, compared to analyst estimates of $2.66 billion. During the same quarter in the previous year, the firm posted ($0.19) EPS. The firm’s quarterly revenue was up 25.0% on a year-over-year basis. Research analysts anticipate that DoorDash, Inc. will post 0.26 earnings per share for the current year.

DoorDash Company Profile

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.