2,062 Shares in DoorDash, Inc. (NASDAQ:DASH) Purchased by Earned Wealth Advisors LLC

Key Points

• Earned Wealth Advisors LLC has made a new investment in DoorDash, Inc. by purchasing 2,062 shares valued at approximately $377,000.
• Several institutional investors increased their holdings in DoorDash, making 90.64% of the stock owned by institutional investors.
• DoorDash received multiple upgrades from analysts, with target prices raised, including a new high of $272.00 from Truist Financial.

Earned Wealth Advisors LLC bought a new stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,062 shares of the company's stock, valued at approximately $377,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital World Investors lifted its stake in shares of DoorDash by 26.4% in the 4th quarter. Capital World Investors now owns 12,153,265 shares of the company's stock valued at $2,038,712,000 after purchasing an additional 2,538,160 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of DoorDash by 46.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,515,861 shares of the company's stock worth $422,036,000 after purchasing an additional 800,322 shares in the last quarter. Voloridge Investment Management LLC increased its position in DoorDash by 2,183.2% during the fourth quarter. Voloridge Investment Management LLC now owns 816,881 shares of the company's stock valued at $137,032,000 after acquiring an additional 781,103 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of DoorDash by 45.2% in the first quarter. Bank of New York Mellon Corp now owns 2,112,527 shares of the company's stock worth $386,106,000 after buying an additional 657,980 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of DoorDash by 20.2% in the fourth quarter. Invesco Ltd. now owns 3,383,657 shares of the company's stock worth $567,609,000 after buying an additional 567,948 shares during the last quarter. Institutional investors own 90.64% of the company's stock.

Analysts Set New Price Targets

DASH has been the topic of a number of research reports. Cantor Fitzgerald reissued an "overweight" rating and issued a $260.00 price objective (up previously from $210.00) on shares of DoorDash in a report on Wednesday, June 25th. Citigroup restated an "outperform" rating on shares of DoorDash in a research report on Thursday, June 12th. Benchmark boosted their price objective on DoorDash from $225.00 to $260.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Stifel Nicolaus boosted their price objective on DoorDash from $198.00 to $214.00 and gave the company a "hold" rating in a research report on Tuesday, July 29th. Finally, Morgan Stanley restated an "overweight" rating and issued a $275.00 price objective (up from $220.00) on shares of DoorDash in a research report on Monday, July 21st. Eleven equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $235.56.

DoorDash Stock Performance

Shares of NASDAQ:DASH traded up $2.85 during trading on Wednesday, hitting $258.13. The company's stock had a trading volume of 5,358,275 shares, compared to its average volume of 2,765,802. The business has a 50 day moving average price of $232.69 and a two-hundred day moving average price of $204.86. The company has a market capitalization of $109.38 billion, a PE ratio of 335.23 and a beta of 1.70. DoorDash, Inc. has a fifty-two week low of $121.18 and a fifty-two week high of $259.87.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.42 by $0.23. DoorDash had a return on equity of 4.39% and a net margin of 3.02%. During the same period last year, the firm earned ($0.38) EPS. The firm's quarterly revenue was up 24.9% on a year-over-year basis. As a group, equities analysts expect that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Insider Buying and Selling at DoorDash

In related news, CFO Ravi Inukonda sold 1,425 shares of the company's stock in a transaction on Friday, July 25th. The stock was sold at an average price of $244.78, for a total transaction of $348,811.50. Following the transaction, the chief financial officer owned 244,905 shares of the company's stock, valued at $59,947,845.90. This represents a 0.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Stanley Tang sold 45,410 shares of the company's stock in a transaction on Friday, August 1st. The stock was sold at an average price of $247.11, for a total transaction of $11,221,265.10. Following the transaction, the director directly owned 26,070 shares in the company, valued at approximately $6,442,157.70. This trade represents a 63.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 583,537 shares of company stock valued at $133,720,004. Corporate insiders own 5.83% of the company's stock.

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.