Janus Henderson Group PLC Boosts Holdings in DoorDash, Inc. (NASDAQ:DASH)

Janus Henderson Group PLC raised its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 14.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,533,288 shares of the company’s stock after purchasing an additional 700,465 shares during the period. Janus Henderson Group PLC owned 1.33% of DoorDash worth $789,766,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in shares of DoorDash by 0.8% in the second quarter. Brighton Jones LLC now owns 10,317 shares of the company’s stock worth $1,122,000 after buying an additional 82 shares in the last quarter. Everhart Financial Group Inc. lifted its stake in shares of DoorDash by 3.1% in the second quarter. Everhart Financial Group Inc. now owns 3,267 shares of the company’s stock worth $355,000 after buying an additional 99 shares in the last quarter. E Fund Management Co. Ltd. lifted its stake in shares of DoorDash by 3.5% in the second quarter. E Fund Management Co. Ltd. now owns 3,263 shares of the company’s stock worth $355,000 after buying an additional 111 shares in the last quarter. SJS Investment Consulting Inc. lifted its stake in shares of DoorDash by 21.0% in the second quarter. SJS Investment Consulting Inc. now owns 673 shares of the company’s stock worth $73,000 after buying an additional 117 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its stake in shares of DoorDash by 39.0% in the third quarter. Venturi Wealth Management LLC now owns 424 shares of the company’s stock worth $61,000 after buying an additional 119 shares in the last quarter. 90.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Andy Fang sold 50,000 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $130.20, for a total value of $6,510,000.00. Following the completion of the sale, the director now owns 18,089 shares in the company, valued at $2,355,187.80. This represents a 73.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Keith Yandell sold 7,980 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $169.98, for a total transaction of $1,356,440.40. Following the completion of the sale, the insider now owns 124,221 shares of the company’s stock, valued at approximately $21,115,085.58. This trade represents a 6.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 654,596 shares of company stock worth $104,128,585. Corporate insiders own 7.92% of the company’s stock.

Wall Street Analysts Forecast Growth

DASH has been the topic of several research reports. Royal Bank of Canada raised their price target on shares of DoorDash from $165.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Wells Fargo & Company raised their price objective on shares of DoorDash from $127.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Friday, October 4th. Raymond James started coverage on shares of DoorDash in a research report on Tuesday, September 24th. They set an “outperform” rating and a $155.00 price objective for the company. Piper Sandler raised their price objective on shares of DoorDash from $125.00 to $160.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Needham & Company LLC raised their price objective on shares of DoorDash from $145.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Ten research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $166.06.

DoorDash Trading Down 2.3 %

NASDAQ DASH opened at $176.37 on Tuesday. DoorDash, Inc. has a 52 week low of $93.33 and a 52 week high of $181.30. The firm has a 50 day moving average of $158.11 and a two-hundred day moving average of $131.31.

DoorDash (NASDAQ:DASH) last issued its earnings results on Wednesday, October 30th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.17. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The business 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 posted ($0.19) EPS. The company’s revenue for the quarter was up 25.0% on a year-over-year basis. As a group, analysts predict that DoorDash, Inc. will post 0.26 EPS for the current year.

About DoorDash

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.