The Vanguard Group, Inc. recently announced the acquisition of new stake in DoorDash Inc (NASDAQ:DASH). The institutional investor has increased its shareholding in the Communication Services company by 2.99% to 26.41 million shares with purchase of 0.77 million shares. This fresh investment now brings its stake to 7.12% valued currently at $2.48 billion. In addition, Capital Research & Management Co raised its holdings by 1.81 million to 20.06 million shares. And BlackRock Fund Advisors has lifted its position by 5.30% or 0.58 million shares – to 11.45 million shares.
With over 30.58 million DoorDash Inc (DASH) shares trading Friday and a closing price of $101.57 on the day, the dollar volume was approximately $3.11 billion. The shares have shown a positive half year performance of 38.64% and its price on 12/15/23 lost nearly -0.19%. Currently, there are 363.30M common shares owned by the public and among those 269.98M shares have been available to trade.
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Insiders at the company have transacted a total of 425 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 104 of these insider trades were purchases, accounting for 47,532,848 shares. Insider sales of the common stock occurred on 321 occasions, with total insider shares sold totaling 56,170,489 shares.
The top 3 mutual fund holders in DoorDash Inc are American Funds Growth Fund of Ame, Vanguard Total Stock Market ETF, and Vanguard Mid Cap Index Fund. American Funds Growth Fund of Ame owns 18.82 million shares of the company’s stock, all valued at over $1.77 billion. The company bought an additional 1.83 million shares recently to bring their total holdings to about 5.08% of the shares outstanding. Vanguard Total Stock Market ETF bought 32404.0 shares to see its total holdings expand to 9.16 million shares valued at over $860.92 million and representing 2.47% of the shares outstanding. Vanguard Mid Cap Index Fund bought 17075.0 shares to bring its total holdings to over 6.65 million shares at a value of $624.63 million. Vanguard Mid Cap Index Fund now owns shares totaling to 1.79% of the shares outstanding.
Shares of DoorDash Inc (NASDAQ: DASH) opened at $102.74, up $0.98 from a prior closing price of $101.76. However, the script later moved the day high at 103.31, down -0.19%. The company’s stock has a 5-day price change of 1.57% and 25.52% over the past three months. DASH shares are trading 108.05% year to date (YTD), with the 12-month market performance up to 73.62% higher. It has a 12-month low price of $45.93 and touched a high of $103.98 over the same period. DASH has an average intraday trading volume of 4.17 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 4.77%, 17.03%, and 34.50% respectively.
Institutional ownership of DoorDash Inc (NASDAQ: DASH) shares accounts for 58.65% of the company’s 363.30M shares outstanding. Mutual fund holders own 29.27%, while other institutional holders and individual stakeholders account for 34.40% and 25.32% respectively.
It has a market capitalization of $40.45B and a beta (3y monthly) value of 1.73. The earnings-per-share (ttm) stands at -$2.69. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.44% over the week and 2.69% over the month.
Analysts forecast that DoorDash Inc (DASH) will achieve an EPS of -$0.14 for the current quarter, -$0.13 for the next quarter and -$0.14 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.37 while analysts give the company a high EPS estimate of -$0.02. Comparatively, EPS for the current quarter was -$1.65 a year ago. Earnings per share for the fiscal year are expected to increase by 67.29%, and 85.02% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 37 brokerage firm advisors rate DoorDash Inc (DASH) as a “Moderate Buy” at a consensus score of 2.22. Specifically, 15 Wall Street analysts polled rate the stock as a buy, while 20 of the 37 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the DASH, a number of firms have released research notes about the stock. Deutsche Bank stated their Buy rating for the stock in a research note on November 16, 2023, with the firm’s price target at $125.
