Federated Hermes Inc. Purchases 127,817 Shares of DoorDash, Inc. (NASDAQ:DASH)

Federated Hermes Inc. increased its position in DoorDash, Inc. (NASDAQ:DASH) by 30.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 552,469 shares of the company’s stock after purchasing an additional 127,817 shares during the period. Federated Hermes Inc. owned 0.14% of DoorDash worth $54,634,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in DASH. Morgan Stanley grew its position in shares of DoorDash by 5.0% in the 4th quarter. Morgan Stanley now owns 29,086,197 shares of the company’s stock worth $1,419,988,000 after buying an additional 1,384,006 shares during the period. Vanguard Group Inc. boosted its position in shares of DoorDash by 3.0% in the 3rd quarter. Vanguard Group Inc. now owns 27,043,520 shares of the company’s stock worth $2,149,149,000 after purchasing an additional 781,861 shares in the last quarter. BlackRock Inc. grew its stake in shares of DoorDash by 4.1% in the 1st quarter. BlackRock Inc. now owns 13,058,004 shares of the company’s stock worth $829,967,000 after buying an additional 509,207 shares during the last quarter. Baillie Gifford & Co. raised its stake in DoorDash by 6.4% during the fourth quarter. Baillie Gifford & Co. now owns 12,775,622 shares of the company’s stock valued at $1,263,381,000 after buying an additional 772,977 shares during the last quarter. Finally, State Street Corp boosted its holdings in DoorDash by 12.2% in the second quarter. State Street Corp now owns 5,511,796 shares of the company’s stock worth $421,211,000 after acquiring an additional 598,230 shares in the last quarter. Institutional investors own 90.64% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on DASH. Mizuho lifted their price target on DoorDash from $140.00 to $152.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Royal Bank of Canada upgraded shares of DoorDash from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $130.00 to $175.00 in a report on Monday, March 4th. Susquehanna upped their price objective on DoorDash from $110.00 to $135.00 and gave the company a “positive” rating in a research report on Tuesday, February 20th. Needham & Company LLC reissued a “buy” rating and issued a $133.00 target price on shares of DoorDash in a report on Tuesday, February 6th. Finally, Moffett Nathanson raised DoorDash from a “neutral” rating to a “buy” rating and upped their price target for the company from $118.00 to $164.00 in a report on Thursday, April 11th. Nine analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, DoorDash currently has a consensus rating of “Moderate Buy” and a consensus price target of $130.52.

DoorDash Stock Down 2.2 %

DoorDash stock opened at $127.18 on Friday. The firm’s fifty day moving average is $130.37 and its 200 day moving average is $106.75. DoorDash, Inc. has a 52-week low of $56.59 and a 52-week high of $143.34. The company has a market cap of $51.38 billion, a price-to-earnings ratio of -88.94, a PEG ratio of 14.48 and a beta of 1.79.

DoorDash (NASDAQ:DASH) last posted its earnings results on Thursday, February 15th. The company reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.24). The company had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.25 billion. DoorDash had a negative return on equity of 8.49% and a negative net margin of 6.46%. The firm’s quarterly revenue was up 26.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.63) EPS. On average, equities research analysts anticipate that DoorDash, Inc. will post 0.21 earnings per share for the current fiscal year.

Insider Activity

In other DoorDash news, CEO Tony Xu sold 132,300 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $131.96, for a total value of $17,458,308.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Tony Xu sold 132,300 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $131.96, for a total transaction of $17,458,308.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Andy Fang sold 67,000 shares of the business’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $110.57, for a total value of $7,408,190.00. Following the sale, the director now owns 40,969 shares in the company, valued at approximately $4,529,942.33. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 497,282 shares of company stock worth $64,885,042. Corporate insiders own 9.59% of the company’s stock.

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.