Swiss National Bank Grows Stock Holdings in DoorDash, Inc. (NYSE:DASH)

Posted by on May 11th, 2023

Swiss National Bank raised its position in DoorDash, Inc. (NYSE:DASH – Get Rating) by 13.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 945,700 shares of the company’s stock after acquiring an additional 111,100 shares during the quarter. Swiss National Bank owned approximately 0.24% of DoorDash worth $46,169,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Wipfli Financial Advisors LLC purchased a new position in shares of DoorDash during the third quarter valued at about $25,000. Riverview Trust Co purchased a new position in shares of DoorDash during the fourth quarter valued at about $29,000. Sentry Investment Management LLC purchased a new position in shares of DoorDash during the third quarter valued at about $33,000. UMB Bank n.a. increased its position in shares of DoorDash by 42.3% during the fourth quarter. UMB Bank n.a. now owns 703 shares of the company’s stock valued at $34,000 after buying an additional 209 shares during the period. Finally, Signaturefd LLC increased its position in shares of DoorDash by 793.3% during the third quarter. Signaturefd LLC now owns 929 shares of the company’s stock valued at $46,000 after buying an additional 825 shares during the period. Hedge funds and other institutional investors own 72.65% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Mizuho boosted their price target on shares of DoorDash from $65.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, February 17th. Wells Fargo & Company upped their price objective on shares of DoorDash from $71.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, February 17th. Barclays upped their price objective on shares of DoorDash from $70.00 to $75.00 in a report on Friday, May 5th. Morgan Stanley upped their price objective on shares of DoorDash from $62.00 to $67.00 and gave the stock an “equal weight” rating in a report on Friday, February 17th. Finally, Needham & Company LLC upped their price objective on shares of DoorDash from $75.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, February 17th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $80.86.

Insider Transactions at DoorDash

In other news, insider Keith Yandell sold 10,997 shares of DoorDash stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $70.00, for a total transaction of $769,790.00. Following the transaction, the insider now owns 213,650 shares in the company, valued at approximately $14,955,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Shona L. Brown sold 1,250 shares of the firm’s stock in a transaction on Monday, March 6th. The shares were sold at an average price of $57.52, for a total transaction of $71,900.00. Following the sale, the director now directly owns 79,778 shares in the company, valued at approximately $4,588,830.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Keith Yandell sold 10,997 shares of the firm’s stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $70.00, for a total transaction of $769,790.00. Following the sale, the insider now owns 213,650 shares in the company, valued at $14,955,500. The disclosure for this sale can be found here. Insiders have sold 739,631 shares of company stock worth $42,679,575 in the last 90 days. 12.10% of the stock is currently owned by insiders.

DoorDash Trading Up 2.2 %

Shares of DASH stock opened at $68.76 on Thursday. DoorDash, Inc. has a 12-month low of $41.37 and a 12-month high of $87.00. The firm’s 50 day moving average is $60.37 and its 200 day moving average is $56.72. The stock has a market capitalization of $26.96 billion, a P/E ratio of -19.37 and a beta of 1.51.

DoorDash (NYSE:DASH – Get Rating) last issued its earnings results on Thursday, February 16th. The company reported ($0.63) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.70) by $0.07. DoorDash had a negative net margin of 18.98% and a negative return on equity of 13.76%. The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.77 billion. As a group, equities analysts predict that DoorDash, Inc. will post -2.15 earnings per share for the current year.

About DoorDash

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DoorDash, Inc operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash marketplace, which provides an array of services that enable merchants to solve mission-critical challenges, such as customer acquisition, delivery, insights and analytics, merchandising, payment processing, and customer support; and offers DoorDash Drive, a white-label logistics service; DoorDash Storefront that enables merchants to offer consumers on-demand access to e-commerce.

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Institutional Ownership by Quarter for DoorDash (NYSE:DASH)

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