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Chevy Chase Trust Holdings LLC Takes $32.52 Million Position in DoorDash, Inc. (NASDAQ:DASH)

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Chevy Chase Trust Holdings LLC purchased a new position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 177,923 shares of the company's stock, valued at approximately $32,519,000.

A number of other hedge funds have also bought and sold shares of the business. Brighton Jones LLC grew its stake in DoorDash by 24.0% during the fourth quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock worth $1,566,000 after buying an additional 1,807 shares in the last quarter. Principal Financial Group Inc. grew its stake in DoorDash by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 93,382 shares of the company's stock worth $15,665,000 after buying an additional 2,596 shares in the last quarter. Jones Financial Companies Lllp grew its stake in DoorDash by 36.2% during the fourth quarter. Jones Financial Companies Lllp now owns 1,926 shares of the company's stock worth $323,000 after buying an additional 512 shares in the last quarter. Truist Financial Corp grew its stake in DoorDash by 35.1% during the fourth quarter. Truist Financial Corp now owns 8,597 shares of the company's stock worth $1,442,000 after buying an additional 2,233 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC grew its stake in DoorDash by 66.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,242 shares of the company's stock worth $208,000 after buying an additional 495 shares in the last quarter. 90.64% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

DASH has been the topic of a number of analyst reports. Raymond James Financial upgraded shares of DoorDash from an "outperform" rating to a "strong-buy" rating and increased their price objective for the stock from $215.00 to $260.00 in a research note on Monday, June 23rd. UBS Group reduced their price target on shares of DoorDash from $197.00 to $196.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Benchmark raised their price target on shares of DoorDash from $220.00 to $225.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Wedbush restated an "outperform" rating on shares of DoorDash in a research note on Wednesday, May 7th. Finally, Oppenheimer restated a "hold" rating on shares of DoorDash in a research note on Monday, March 10th. Eleven investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, DoorDash currently has a consensus rating of "Moderate Buy" and an average target price of $214.76.

Get Our Latest Stock Analysis on DoorDash

DoorDash Stock Up 1.1%

DoorDash stock traded up $2.68 during mid-day trading on Friday, hitting $242.32. 7,323,728 shares of the stock were exchanged, compared to its average volume of 4,213,649. DoorDash, Inc. has a 12 month low of $99.32 and a 12 month high of $242.63. The firm's fifty day simple moving average is $206.04 and its two-hundred day simple moving average is $191.43. The stock has a market capitalization of $102.68 billion, a price-to-earnings ratio of 314.71 and a beta of 1.67.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings results 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 net margin of 3.02% and a return on equity of 4.39%. The firm had revenue of $3.03 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same quarter last year, the business earned ($0.06) EPS. The company's revenue was up 20.7% compared to the same quarter last year. As a group, analysts forecast that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Shona L. Brown sold 1,248 shares of DoorDash stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $231.70, for a total value of $289,161.60. Following the completion of the sale, the director now owns 45,213 shares in the company, valued at $10,475,852.10. The trade was a 2.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction on 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 owns 18,285 shares of the company's stock, valued at $3,313,424.85. This represents a 71.29% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 313,552 shares of company stock worth $63,965,566. 5.83% of the stock is currently owned by insiders.

About DoorDash

(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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Institutional Ownership by Quarter for DoorDash (NASDAQ:DASH)

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