DoorDash, Inc. (NASDAQ:DASH) Shares Bought by Bessemer Group Inc.

Bessemer Group Inc. boosted its position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 0.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 621,574 shares of the company's stock after buying an additional 3,797 shares during the period. Bessemer Group Inc. owned 0.15% of DoorDash worth $113,605,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. GeoWealth Management LLC increased its position in shares of DoorDash by 3.7% during the fourth quarter. GeoWealth Management LLC now owns 1,428 shares of the company's stock valued at $240,000 after acquiring an additional 51 shares during the last quarter. IFP Advisors Inc boosted its position in shares of DoorDash by 31.8% during the 4th quarter. IFP Advisors Inc now owns 224 shares of the company's stock worth $37,000 after purchasing an additional 54 shares during the period. Coldstream Capital Management Inc. increased its holdings in DoorDash by 5.5% in the 4th quarter. Coldstream Capital Management Inc. now owns 1,661 shares of the company's stock valued at $279,000 after purchasing an additional 86 shares during the last quarter. LVW Advisors LLC raised its position in DoorDash by 6.1% in the first quarter. LVW Advisors LLC now owns 1,495 shares of the company's stock valued at $273,000 after purchasing an additional 86 shares during the period. Finally, CVA Family Office LLC boosted its position in shares of DoorDash by 12.7% during the first quarter. CVA Family Office LLC now owns 774 shares of the company's stock worth $141,000 after buying an additional 87 shares during the period. Institutional investors and hedge funds own 90.64% of the company's stock.

DoorDash Stock Up 3.0%

Shares of NASDAQ DASH traded up $6.96 during mid-day trading on Thursday, hitting $239.64. 3,200,901 shares of the company were exchanged, compared to its average volume of 4,231,166. The stock has a 50 day simple moving average of $203.65 and a 200-day simple moving average of $190.41. DoorDash, Inc. has a 1-year low of $99.32 and a 1-year high of $240.38. The firm has a market cap of $101.55 billion, a price-to-earnings ratio of 302.18 and a beta of 1.67.

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

Insiders Place Their Bets

In other DoorDash news, CEO Tony Xu sold 44,244 shares of the business's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $220.71, for a total transaction of $9,765,093.24. Following the sale, the chief executive officer now directly owns 520,450 shares in the company, valued at approximately $114,868,519.50. The trade was a 7.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stanley Tang sold 45,410 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $181.21, for a total transaction of $8,228,746.10. Following the completion of the sale, the director now directly owns 18,285 shares in the company, valued at approximately $3,313,424.85. The trade was a 71.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 333,552 shares of company stock worth $67,677,166. 5.83% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on DASH shares. Bank of America boosted their price objective on DoorDash from $230.00 to $245.00 and gave the company a "buy" rating in a report on Thursday, June 12th. KeyCorp lowered their price objective on shares of DoorDash from $240.00 to $230.00 and set an "overweight" rating for the company in a research note on Tuesday, April 15th. Needham & Company LLC increased their target price on shares of DoorDash from $225.00 to $230.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. DA Davidson upped their price objective on DoorDash from $150.00 to $190.00 and gave the stock a "neutral" rating in a research report on Tuesday, May 6th. Finally, Oppenheimer reissued a "hold" rating on shares of DoorDash in a research note on Monday, March 10th. Eleven research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $214.76.

About DoorDash

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.