Brookwood Investment Group LLC Takes $204,000 Position in DoorDash, Inc. (NASDAQ:DASH)

Key Points

• Brookwood Investment Group LLC invested approximately $204,000 in DoorDash, acquiring 1,114 shares during the first quarter, marking a new position in the company.
• Other institutional investors have also increased their stakes, with companies such as Brighton Jones LLC and GAMMA Investing LLC boosting their ownership by 24.0% and 70.4%, respectively, indicating strong interest in DoorDash's stock.
• DoorDash's stock opened at $249.92, with a market cap of $105.90 billion, and analysts are bullish, raising price targets up to $295.00 after the company reported earnings per share of $0.44 for the last quarter, beating estimates.

Brookwood Investment Group LLC bought a new position in DoorDash, Inc. (NASDAQ:DASH - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,114 shares of the company's stock, valued at approximately $204,000.

Several other hedge funds and other institutional investors have also modified their holdings of DASH. Capital World Investors raised its holdings in shares of DoorDash by 26.4% during the fourth quarter. Capital World Investors now owns 12,153,265 shares of the company's stock worth $2,038,712,000 after acquiring an additional 2,538,160 shares in the last quarter. Franklin Resources Inc. raised its holdings in DoorDash by 25.0% during the fourth quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company's stock valued at $796,781,000 after buying an additional 949,414 shares in the last quarter. Arrowstreet Capital Limited Partnership raised 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 buying an additional 1,869,866 shares in the last quarter. Geode Capital Management LLC raised its holdings in DoorDash by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 4,558,821 shares of the company's stock valued at $763,198,000 after buying an additional 86,667 shares in the last quarter. Finally, Norges Bank bought a new position in DoorDash during the fourth quarter valued at about $597,443,000. Institutional investors and hedge funds own 90.64% of the company's stock.

Insider Transactions at DoorDash

In other DoorDash news, CEO Tony Xu sold 44,244 shares of the company'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 transaction, the chief executive officer owned 520,450 shares of the company's stock, valued at approximately $114,868,519.50. This represents a 7.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Andy Fang sold 30,000 shares of the company's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $217.52, for a total value of $6,525,600.00. Following the transaction, the director directly owned 22,545 shares in the company, valued at approximately $4,903,988.40. This represents a 57.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 508,189 shares of company stock worth $115,099,939 in the last quarter. 5.83% of the stock is owned by corporate insiders.

DoorDash Price Performance

Shares of DASH traded up $3.29 on Wednesday, hitting $246.49. The company's stock had a trading volume of 416,256 shares, compared to its average volume of 4,774,038. The company has a market capitalization of $104.45 billion, a PE ratio of 320.27 and a beta of 1.70. DoorDash, Inc. has a fifty-two week low of $105.91 and a fifty-two week high of $250.71. The company has a 50 day moving average price of $227.94 and a 200 day moving average price of $202.04.

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on DASH shares. JPMorgan Chase & Co. cut their target price on DoorDash from $205.00 to $175.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. BMO Capital Markets restated an "outperform" rating on shares of DoorDash in a report on Tuesday, April 29th. DA Davidson raised their target price on DoorDash from $150.00 to $190.00 and gave the company a "neutral" rating in a report on Tuesday, May 6th. Needham & Company LLC lifted their price objective on DoorDash from $225.00 to $230.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Finally, Wall Street Zen upgraded DoorDash from a "hold" rating to a "buy" rating in a research note on Saturday. Eleven analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $235.56.

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.