Principal Financial Group Inc. Has $111.36 Million Stock Position in DoorDash, Inc. $DASH

Principal Financial Group Inc. reduced its stake in DoorDash, Inc. (NASDAQ:DASH) by 8.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 409,409 shares of the company’s stock after selling 39,978 shares during the period. Principal Financial Group Inc. owned approximately 0.10% of DoorDash worth $111,355,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of DoorDash by 4.6% in the 2nd quarter. Vanguard Group Inc. now owns 41,190,085 shares of the company’s stock valued at $10,153,768,000 after purchasing an additional 1,792,799 shares in the last quarter. State Street Corp lifted its holdings in DoorDash by 3.1% during the 2nd quarter. State Street Corp now owns 14,387,499 shares of the company’s stock valued at $3,546,662,000 after purchasing an additional 427,722 shares during the last quarter. Geode Capital Management LLC boosted its position in DoorDash by 2.9% in the second quarter. Geode Capital Management LLC now owns 7,951,230 shares of the company’s stock valued at $1,950,711,000 after buying an additional 223,188 shares in the last quarter. Invesco Ltd. grew its stake in DoorDash by 12.0% during the second quarter. Invesco Ltd. now owns 5,375,480 shares of the company’s stock worth $1,325,110,000 after buying an additional 575,629 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of DoorDash during the second quarter worth approximately $1,185,576,000. Institutional investors own 90.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on DASH shares. BNP Paribas Exane initiated coverage on DoorDash in a report on Wednesday, January 14th. They issued an “outperform” rating and a $280.00 target price on the stock. Stifel Nicolaus reduced their price objective on DoorDash from $253.00 to $224.00 and set a “hold” rating on the stock in a research note on Tuesday, January 27th. Morgan Stanley raised their target price on DoorDash from $300.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, October 20th. Truist Financial lifted their price target on DoorDash from $326.00 to $340.00 and gave the company a “buy” rating in a report on Thursday, October 23rd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of DoorDash in a report on Wednesday, October 8th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $279.09.

DoorDash Stock Up 1.5%

Shares of NASDAQ DASH opened at $207.67 on Tuesday. DoorDash, Inc. has a 1 year low of $155.40 and a 1 year high of $285.50. The firm’s 50-day moving average is $218.14 and its 200-day moving average is $237.82. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $89.51 billion, a PE ratio of 105.42 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.55 earnings per share 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 business had revenue of $3.45 billion for the quarter, compared to the consensus estimate of $3.35 billion. During the same period last year, the firm earned $0.38 earnings per share. The company’s quarterly revenue was up 27.3% on a year-over-year basis. Equities analysts expect that DoorDash, Inc. will post 2.22 EPS for the current year.

Insider Buying and Selling

In other news, COO Prabir Adarkar sold 30,000 shares of the firm’s stock in a transaction on Monday, December 22nd. The stock was sold at an average price of $234.57, for a total value of $7,037,100.00. Following the transaction, the chief operating officer directly owned 874,130 shares in the company, valued at $205,044,674.10. This trade represents a 3.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Stanley Tang sold 45,410 shares of the company’s stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $222.53, for a total value of $10,105,087.30. The SEC filing for this sale provides additional information. Insiders have sold a total of 557,412 shares of company stock worth $114,778,269 over the last 90 days. 5.83% of the stock is currently owned by corporate insiders.

DoorDash Profile

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company’s core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.