Deutsche Bank AG purchased a new position in shares of DoorDash, Inc. (NYSE:DASH) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 793,525 shares of the company’s stock, valued at approximately $141,510,000.
Several other institutional investors have also recently modified their holdings of DASH. Morgan Stanley lifted its holdings in shares of DoorDash by 81.4% during the 1st quarter. Morgan Stanley now owns 10,920,357 shares of the company’s stock worth $1,431,986,000 after acquiring an additional 4,899,900 shares during the period. Lone Pine Capital LLC lifted its holdings in shares of DoorDash by 197.9% during the 1st quarter. Lone Pine Capital LLC now owns 6,723,551 shares of the company’s stock worth $881,659,000 after acquiring an additional 4,466,620 shares during the period. Discovery Value Fund bought a new stake in shares of DoorDash during the 1st quarter worth approximately $534,668,000. Price T Rowe Associates Inc. MD lifted its stake in DoorDash by 24.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,568,844 shares of the company’s stock valued at $1,237,989,000 after purchasing an additional 1,862,768 shares during the last quarter. Finally, Tremblant Capital Group bought a new position in DoorDash in the 1st quarter valued at approximately $101,504,000. 73.53% of the stock is owned by institutional investors.
NYSE:DASH opened at $217.66 on Thursday. The firm has a 50-day moving average of $191.00 and a 200-day moving average of $162.86. The company has a market cap of $73.56 billion and a PE ratio of -29.45. DoorDash, Inc. has a one year low of $110.13 and a one year high of $256.09.
Several brokerages recently commented on DASH. Wells Fargo & Company increased their price objective on shares of DoorDash from $215.00 to $235.00 and gave the company an “overweight” rating in a research note on Friday, August 13th. Zacks Investment Research raised shares of DoorDash from a “sell” rating to a “hold” rating in a research note on Monday, September 13th. Susquehanna increased their price objective on shares of DoorDash from $175.00 to $220.00 and gave the company a “positive” rating in a research note on Tuesday, August 17th. KGI Securities assumed coverage on shares of DoorDash in a research report on Thursday, June 24th. They issued a “hold” rating for the company. Finally, Mizuho upped their price target on shares of DoorDash from $155.00 to $175.00 and gave the company a “neutral” rating in a research report on Friday, August 13th. Twelve investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $191.65.
In other DoorDash news, CAO Gordon S. Lee sold 5,272 shares of the business’s stock in a transaction dated Friday, August 20th. The shares were sold at an average price of $183.95, for a total value of $969,784.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Prabir Adarkar sold 5,000 shares of the business’s stock in a transaction dated Monday, September 20th. The shares were sold at an average price of $221.40, for a total transaction of $1,107,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,006,030 shares of company stock worth $2,177,537,665. 15.54% of the stock is owned by corporate insiders.
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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