DoorDash, Inc. (NASDAQ:DASH) Position Reduced by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank trimmed its position in DoorDash, Inc. (NASDAQ:DASH) by 47.9% in the third quarter, HoldingsChannel.com reports. The firm owned 60,039 shares of the company’s stock after selling 55,202 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in DoorDash were worth $8,569,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Baillie Gifford & Co. lifted its holdings in shares of DoorDash by 13.2% in the third quarter. Baillie Gifford & Co. now owns 14,142,674 shares of the company’s stock valued at $2,018,584,000 after buying an additional 1,645,186 shares during the period. Dragoneer Investment Group LLC boosted its position in shares of DoorDash by 77.9% during the 2nd quarter. Dragoneer Investment Group LLC now owns 2,847,537 shares of the company’s stock valued at $309,755,000 after purchasing an additional 1,246,567 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of DoorDash by 16.4% in the 2nd quarter. Renaissance Technologies LLC now owns 2,787,843 shares of the company’s stock worth $303,262,000 after purchasing an additional 392,300 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of DoorDash by 15.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,387,113 shares of the company’s stock worth $150,890,000 after purchasing an additional 188,612 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in DoorDash by 7.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,341,660 shares of the company’s stock valued at $191,495,000 after purchasing an additional 88,025 shares during the last quarter. 90.64% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on DASH. DA Davidson lifted their price target on shares of DoorDash from $119.00 to $150.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. 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. Roth Mkm lifted their price target on DoorDash from $118.00 to $124.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. Loop Capital upped their price objective on shares of DoorDash from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, BMO Capital Markets lifted their target price on shares of DoorDash from $140.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Ten equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $166.06.

DoorDash Price Performance

Shares of NASDAQ:DASH opened at $180.48 on Monday. The stock has a market capitalization of $74.97 billion, a P/E ratio of -401.07, a P/E/G ratio of 13.88 and a beta of 1.67. The business has a 50-day moving average of $158.11 and a two-hundred day moving average of $131.20. DoorDash, Inc. has a fifty-two week low of $92.58 and a fifty-two week high of $181.30.

DoorDash (NASDAQ:DASH) last announced its 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 firm had revenue of $2.71 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter in the prior year, the business earned ($0.19) earnings per share. The company’s revenue was up 25.0% on a year-over-year basis. As a group, research analysts expect that DoorDash, Inc. will post 0.26 EPS for the current fiscal year.

Insider Buying and Selling

In other DoorDash news, CEO Tony Xu sold 54,166 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $140.06, for a total value of $7,586,489.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Andy Fang sold 50,000 shares of DoorDash stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $130.20, for a total transaction of $6,510,000.00. Following the sale, the director now owns 18,089 shares in the company, valued at approximately $2,355,187.80. This trade represents a 73.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 654,596 shares of company stock worth $104,128,585 in the last quarter. 7.92% of the stock is currently owned by company insiders.

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.