Natixis Purchases 53,500 Shares of DoorDash, Inc. (NYSE:DASH)

Posted by Defense World Staff on Jun 10th, 2023

Natixis raised its position in DoorDash, Inc. (NYSE:DASH – Get Rating) by 146.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 90,001 shares of the company’s stock after buying an additional 53,500 shares during the quarter. Natixis’ holdings in DoorDash were worth $4,394,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Raymond James & Associates raised its holdings in DoorDash by 123.4% in the 1st quarter. Raymond James & Associates now owns 6,286 shares of the company’s stock valued at $737,000 after acquiring an additional 3,472 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in DoorDash by 43.2% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 3,825 shares of the company’s stock valued at $448,000 after purchasing an additional 1,153 shares in the last quarter. American Century Companies Inc. lifted its position in DoorDash by 18.3% during the first quarter. American Century Companies Inc. now owns 4,444 shares of the company’s stock worth $521,000 after purchasing an additional 689 shares during the period. US Bancorp DE grew its stake in DoorDash by 204.6% during the first quarter. US Bancorp DE now owns 926 shares of the company’s stock worth $109,000 after buying an additional 622 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in DoorDash by 305.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,553 shares of the company’s stock valued at $415,000 after buying an additional 2,677 shares during the period. Institutional investors own 72.65% of the company’s stock.

DoorDash Stock Performance

DoorDash stock opened at $71.79 on Friday. The firm has a market cap of $27.89 billion, a price-to-earnings ratio of -20.22 and a beta of 1.50. DoorDash, Inc. has a 52-week low of $41.37 and a 52-week high of $87.00. The firm has a 50 day moving average price of $64.23 and a two-hundred day moving average price of $58.92.

DoorDash (NYSE:DASH – Get Rating) last released its earnings results on Thursday, May 4th. The company reported ($0.41) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.15. The business had revenue of $2.04 billion for the quarter, compared to analyst estimates of $1.92 billion. DoorDash had a negative net margin of 18.98% and a negative return on equity of 14.00%. As a group, equities research analysts predict that DoorDash, Inc. will post -1.75 EPS for the current fiscal year.

Insider Activity at DoorDash

In other DoorDash news, CEO Tony Xu sold 132,300 shares of DoorDash stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $53.07, for a total value of $7,021,161.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Stanley Tang sold 93,000 shares of the stock in a transaction dated Monday, March 20th. The shares were sold at an average price of $58.93, for a total transaction of $5,480,490.00. Following the transaction, the director now owns 31,759 shares of the company’s stock, valued at approximately $1,871,557.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Tony Xu sold 132,300 shares of the business’s stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $53.07, for a total value of $7,021,161.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,068,940 shares of company stock worth $66,292,364 in the last 90 days. Corporate insiders own 9.59% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on DASH shares. Morgan Stanley increased their price target on shares of DoorDash from $62.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Friday, February 17th. Wells Fargo & Company began coverage on DoorDash in a research note on Wednesday. They issued an “equal weight” rating and a $70.00 price target on the stock. Mizuho upped their price objective on DoorDash from $65.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, February 17th. DA Davidson decreased their target price on DoorDash from $77.00 to $72.00 in a research report on Monday, May 8th. Finally, Oppenheimer increased their target price on shares of DoorDash from $80.00 to $85.00 in a report on Friday, May 5th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, DoorDash presently has an average rating of “Hold” and an average price target of $75.65.

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.