Crestwood Advisors Group LLC Makes New Investment in DoorDash, Inc. (NASDAQ:DASH)

Crestwood Advisors Group LLC bought a new stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,122 shares of the company's stock, valued at approximately $205,000.

Other hedge funds have also made changes to their positions in the company. Capital World Investors lifted its stake in shares of DoorDash by 26.4% in the fourth quarter. Capital World Investors now owns 12,153,265 shares of the company's stock worth $2,038,712,000 after buying an additional 2,538,160 shares during the last quarter. Franklin Resources Inc. lifted its position in DoorDash by 25.0% during the 4th quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company's stock worth $796,781,000 after acquiring an additional 949,414 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in DoorDash by 67.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company's stock valued at $780,858,000 after acquiring an additional 1,869,866 shares during the period. Geode Capital Management LLC grew its position in shares of DoorDash by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 4,558,821 shares of the company's stock valued at $763,198,000 after purchasing an additional 86,667 shares during the last quarter. Finally, Norges Bank bought a new position in shares of DoorDash in the fourth quarter worth about $597,443,000. 90.64% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at DoorDash

In other DoorDash news, COO Prabir Adarkar sold 62,267 shares of DoorDash stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $202.67, for a total value of $12,619,652.89. Following the completion of the transaction, the chief operating officer directly owned 942,554 shares of the company's stock, valued at $191,027,419.18. The trade was a 6.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Ravi Inukonda sold 20,000 shares of the stock in a transaction on Monday, June 30th. The stock was sold at an average price of $247.00, for a total value of $4,940,000.00. Following the sale, the chief financial officer directly owned 245,530 shares in the company, valued at approximately $60,645,910. This trade represents a 7.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 441,773 shares of company stock valued at $98,711,043. 5.83% of the stock is currently owned by company insiders.

DoorDash Stock Up 2.6%

Shares of DASH traded up $6.23 during trading hours on Friday, hitting $249.92. The company had a trading volume of 3,051,438 shares, compared to its average volume of 3,405,321. The business has a fifty day moving average of $226.30 and a 200-day moving average of $201.03. The firm has a market cap of $105.90 billion, a price-to-earnings ratio of 324.58 and a beta of 1.70. DoorDash, Inc. has a 12 month low of $102.81 and a 12 month high of $250.23.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.05. The firm had revenue of $3.03 billion for the quarter, compared to analysts' expectations of $3.10 billion. DoorDash had a return on equity of 4.39% and a net margin of 3.02%. The company's quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter last year, the business earned ($0.06) EPS. On average, equities analysts expect that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DASH. KeyCorp boosted their price target on shares of DoorDash from $235.00 to $295.00 and gave the company an "overweight" rating in a report on Monday, July 14th. Cantor Fitzgerald reissued an "overweight" rating and set a $260.00 price objective (up previously from $210.00) on shares of DoorDash in a report on Wednesday, June 25th. Raymond James Financial lifted their target price on DoorDash from $260.00 to $275.00 and gave the company a "strong-buy" rating in a research note on Monday, July 21st. BTIG Research raised their price objective on shares of DoorDash from $225.00 to $265.00 and gave the company a "buy" rating in a research note on Tuesday, July 1st. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $230.00 target price on shares of DoorDash in a research note on Wednesday, May 7th. Eleven research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, DoorDash has a consensus rating of "Moderate Buy" and a consensus target price of $232.12.

DoorDash 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.