Mutual of America Capital Management LLC acquired a new position in DoorDash, Inc. (NASDAQ:DASH - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 39,394 shares of the company's stock, valued at approximately $7,200,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DASH. Brighton Jones LLC lifted its stake in shares of DoorDash by 24.0% in the fourth quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock worth $1,566,000 after acquiring an additional 1,807 shares in the last quarter. GAMMA Investing LLC increased its holdings in DoorDash by 70.4% during the 1st quarter. GAMMA Investing LLC now owns 1,922 shares of the company's stock worth $351,000 after purchasing an additional 794 shares during the last quarter. Flagship Harbor Advisors LLC increased its holdings in DoorDash by 14.4% during the 1st quarter. Flagship Harbor Advisors LLC now owns 1,636 shares of the company's stock worth $299,000 after purchasing an additional 206 shares during the last quarter. Park Avenue Securities LLC raised its position in shares of DoorDash by 9.3% in the 1st quarter. Park Avenue Securities LLC now owns 10,017 shares of the company's stock valued at $1,831,000 after purchasing an additional 850 shares in the last quarter. Finally, Sowell Financial Services LLC purchased a new position in shares of DoorDash during the 1st quarter valued at approximately $222,000. 90.64% of the stock is owned by hedge funds and other institutional investors.
DoorDash Price Performance
Shares of DoorDash stock opened at $270.99 on Friday. DoorDash, Inc. has a 1-year low of $121.18 and a 1-year high of $278.15. The business's fifty day moving average price is $235.05 and its two-hundred day moving average price is $205.89. The company has a market capitalization of $114.83 billion, a P/E ratio of 150.55 and a beta of 1.70.
DoorDash (NASDAQ:DASH - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, beating analysts' consensus estimates of $0.42 by $0.23. DoorDash had a return on equity of 9.86% and a net margin of 6.57%. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.16 billion. During the same period last year, the company earned ($0.38) earnings per share. The company's quarterly revenue was up 24.9% compared to the same quarter last year. On average, research analysts expect that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on DASH. Wells Fargo & Company raised their price target on shares of DoorDash from $239.00 to $280.00 and gave the stock an "equal weight" rating in a research report on Thursday. Bank of America increased their price objective on shares of DoorDash from $230.00 to $245.00 and gave the company a "buy" rating in a research note on Thursday, June 12th. BMO Capital Markets boosted their target price on shares of DoorDash from $238.00 to $288.00 and gave the stock an "outperform" rating in a research report on Thursday. Oppenheimer upped their target price on shares of DoorDash from $280.00 to $310.00 and gave the company an "outperform" rating in a research note on Thursday. Finally, Royal Bank Of Canada increased their price target on shares of DoorDash from $230.00 to $300.00 and gave the stock an "outperform" rating in a research report on Thursday. Eleven research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, DoorDash has an average rating of "Moderate Buy" and an average target price of $255.65.
Read Our Latest Stock Analysis on DoorDash
Insider Activity at DoorDash
In other DoorDash news, CEO Tony Xu sold 44,244 shares of the business's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $220.71, for a total transaction of $9,765,093.24. Following the sale, the chief executive officer directly owned 520,450 shares in the company, valued at approximately $114,868,519.50. The trade was a 7.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stanley Tang sold 45,410 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $240.69, for a total transaction of $10,929,732.90. Following the completion of the sale, the director directly owned 26,070 shares of the company's stock, valued at approximately $6,274,788.30. This represents a 63.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 583,537 shares of company stock worth $133,720,004. 5.83% of the stock is currently owned by corporate insiders.
DoorDash Company Profile
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Free Report)
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.
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