DoorDash, Inc. $DASH Shares Bought by ProShare Advisors LLC

Key Points

• ProShare Advisors LLC increased its DoorDash holdings by 40.1% in the fourth quarter, buying an additional 201,326 shares and bringing its total stake to 703,161 shares worth about $159.3 million.
• Wall Street sentiment remains mostly positive on DASH, with a Moderate Buy consensus and an average price target of $259.58, even as some firms adjusted their targets and ratings.
• DoorDash reported Q1 EPS of $0.42, topping estimates, while revenue rose 33.1% year over year to $4.04 billion; however, that revenue still came in slightly below consensus expectations.

ProShare Advisors LLC raised its holdings in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 40.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 703,161 shares of the company's stock after acquiring an additional 201,326 shares during the quarter. ProShare Advisors LLC owned 0.16% of DoorDash worth $159,252,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of DASH. Physician Wealth Advisors Inc. lifted its holdings in DoorDash by 284.0% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 96 shares of the company's stock valued at $26,000 after acquiring an additional 71 shares during the last quarter. Eastern Bank lifted its holdings in DoorDash by 714.3% in the 4th quarter. Eastern Bank now owns 114 shares of the company's stock valued at $26,000 after acquiring an additional 100 shares during the last quarter. ST Germain D J Co. Inc. acquired a new stake in DoorDash in the 4th quarter valued at about $29,000. Sunbelt Securities Inc. lifted its holdings in DoorDash by 124.1% in the 3rd quarter. Sunbelt Securities Inc. now owns 121 shares of the company's stock valued at $33,000 after acquiring an additional 67 shares during the last quarter. Finally, Morse Asset Management Inc acquired a new stake in DoorDash in the 3rd quarter valued at about $36,000. 90.64% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have weighed in on DASH. UBS Group upped their price target on shares of DoorDash from $206.00 to $214.00 and gave the company a "neutral" rating in a report on Thursday, May 7th. Zacks Research raised shares of DoorDash from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 12th. Truist Financial cut their price target on shares of DoorDash from $340.00 to $330.00 and set a "buy" rating for the company in a report on Thursday, May 7th. KeyCorp upped their price objective on shares of DoorDash from $275.00 to $280.00 and gave the company an "overweight" rating in a research note on Thursday, February 19th. Finally, Citigroup reduced their price objective on shares of DoorDash from $280.00 to $250.00 and set a "buy" rating for the company in a research note on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $259.58.

Insider Activity

In other news, Director Stanley Tang sold 21,433 shares of the company's stock in a transaction dated Thursday, April 2nd. The stock was sold at an average price of $150.00, for a total value of $3,214,950.00. Following the transaction, the director owned 19,279 shares in the company, valued at $2,891,850. This represents a 52.65% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Prabir Adarkar sold 10,000 shares of the company's stock in a transaction dated Monday, April 20th. The shares were sold at an average price of $188.34, for a total value of $1,883,400.00. Following the completion of the transaction, the chief operating officer owned 843,678 shares in the company, valued at $158,898,314.52. This represents a 1.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 42,683 shares of company stock worth $6,908,813 in the last 90 days. Company insiders own 5.83% of the company's stock.

DoorDash Price Performance

DASH stock opened at $162.67 on Tuesday. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.27. DoorDash, Inc. has a one year low of $143.30 and a one year high of $285.50. The firm has a market capitalization of $70.88 billion, a PE ratio of 77.46 and a beta of 1.87. The firm has a 50-day moving average of $164.17 and a two-hundred day moving average of $191.96.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its earnings results on Wednesday, May 6th. The company reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates of $0.36 by $0.06. The company had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $4.15 billion. DoorDash had a return on equity of 9.58% and a net margin of 6.29%.The firm's quarterly revenue was up 33.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 EPS. On average, analysts forecast that DoorDash, Inc. will post 2.45 earnings per share for the current year.

About DoorDash

DoorDash, Inc operates a technology-driven logistics and food-delivery marketplace that connects consumers, merchants and independent delivery contractors. The company's core service enables customers to order from local restaurants and retailers through its app and website while DoorDash handles last-mile fulfillment via its network of drivers, known as “Dashers.” Over time the platform has broadened beyond restaurant deliveries to include groceries, convenience items and retail deliveries, positioning DoorDash as a broader on-demand logistics provider for consumer goods.

In addition to its marketplace, DoorDash offers a suite of products and services for consumers and businesses.

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