Fifth Third Bancorp Increases Position in DoorDash, Inc. (NASDAQ:DASH)

Fifth Third Bancorp boosted its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 4,131.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,233 shares of the company's stock after purchasing an additional 14,873 shares during the quarter. Fifth Third Bancorp's holdings in DoorDash were worth $2,784,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Pittenger & Anderson Inc. bought a new stake in DoorDash during the fourth quarter valued at $29,000. Denver PWM LLC purchased a new stake in shares of DoorDash in the 4th quarter valued at about $30,000. 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 valued at $37,000 after acquiring an additional 54 shares during the last quarter. Rothschild Investment LLC grew its holdings in shares of DoorDash by 1,452.9% during the first quarter. Rothschild Investment LLC now owns 264 shares of the company's stock worth $48,000 after purchasing an additional 247 shares in the last quarter. Finally, Larson Financial Group LLC grew its holdings in shares of DoorDash by 695.6% during the fourth quarter. Larson Financial Group LLC now owns 358 shares of the company's stock worth $60,000 after purchasing an additional 313 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on DASH shares. Morgan Stanley dropped their target price on shares of DoorDash from $245.00 to $210.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Needham & Company LLC raised their price objective on shares of DoorDash from $225.00 to $230.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Bank of America upped their target price on shares of DoorDash from $230.00 to $245.00 and gave the stock a "buy" rating in a research report on Thursday, June 12th. Wedbush restated an "outperform" rating on shares of DoorDash in a research report on Wednesday, May 7th. Finally, Benchmark lifted their price target on DoorDash from $220.00 to $225.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Eleven analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $210.21.

DoorDash Price Performance

NASDAQ:DASH traded up $1.34 during trading hours on Wednesday, hitting $220.73. The company had a trading volume of 2,962,453 shares, compared to its average volume of 4,209,788. The stock has a 50-day moving average price of $198.24 and a 200 day moving average price of $188.42. The company has a market capitalization of $93.53 billion, a PE ratio of 286.48 and a beta of 1.67. DoorDash, Inc. has a 52 week low of $99.32 and a 52 week high of $223.29.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $3.10 billion. During the same quarter in the previous year, the firm posted ($0.06) EPS. The company's revenue for the quarter was up 20.7% compared to the same quarter last year. Analysts anticipate that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Insider Buying and Selling at DoorDash

In related 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 value of $9,765,093.24. Following the sale, the chief executive officer now directly owns 520,450 shares of the company's stock, valued at $114,868,519.50. This represents a 7.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Prabir Adarkar sold 62,267 shares of the stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $202.67, for a total value of $12,619,652.89. Following the completion of the transaction, the chief operating officer now owns 942,554 shares of the company's stock, valued at approximately $191,027,419.18. This trade represents a 6.20% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 342,274 shares of company stock valued at $69,198,499. 5.83% of the stock is currently owned by corporate insiders.

DoorDash Profile

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.