Envestnet Asset Management Inc. Has $19.24 Million Position in DoorDash, Inc. (NASDAQ:DASH)

Envestnet Asset Management Inc. lifted its position in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 14.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 105,272 shares of the company's stock after acquiring an additional 13,260 shares during the quarter. Envestnet Asset Management Inc.'s holdings in DoorDash were worth $19,241,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in DASH. Penserra Capital Management LLC increased its stake in DoorDash by 5.4% during the first quarter. Penserra Capital Management LLC now owns 29,609 shares of the company's stock valued at $5,410,000 after purchasing an additional 1,514 shares during the last quarter. Tradewinds LLC. acquired a new position in shares of DoorDash in the 1st quarter valued at about $5,197,000. Concurrent Investment Advisors LLC bought a new stake in shares of DoorDash during the 1st quarter valued at about $251,000. Bank of New York Mellon Corp raised its stake in DoorDash by 45.2% during 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 acquiring an additional 657,980 shares during the period. Finally, World Investment Advisors acquired a new stake in DoorDash during the first quarter worth about $1,125,000. 90.64% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other DoorDash news, COO Prabir Adarkar sold 62,267 shares of the company's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $202.67, for a total transaction of $12,619,652.89. Following the completion of the sale, the chief operating officer directly owned 942,554 shares in the company, valued at $191,027,419.18. This represents a 6.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andy Fang sold 30,000 shares of DoorDash stock in a transaction dated 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 completion of the transaction, the director owned 22,545 shares in the company, valued at $4,903,988.40. The trade was a 57.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 463,198 shares of company stock valued at $102,674,831. 5.83% of the stock is owned by corporate insiders.

DoorDash Price Performance

Shares of DASH stock traded up $4.15 on Friday, hitting $239.17. The company's stock had a trading volume of 3,406,074 shares, compared to its average volume of 4,215,663. The stock has a market capitalization of $101.35 billion, a price-to-earnings ratio of 310.61 and a beta of 1.70. DoorDash, Inc. has a fifty-two week low of $99.32 and a fifty-two week high of $248.74. The firm's fifty day moving average price is $220.61 and its 200-day moving average price is $197.89.

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

Analysts Set New Price Targets

DASH has been the subject of several recent research reports. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $260.00 target price (up from $210.00) on shares of DoorDash in a report on Wednesday, June 25th. FBN Securities assumed coverage on DoorDash in a research report on Friday, March 28th. They issued an "outperform" rating and a $230.00 target price on the stock. JMP Securities lifted their price objective on shares of DoorDash from $235.00 to $250.00 and gave the company a "market outperform" rating in a research note on Tuesday. JPMorgan Chase & Co. dropped their price target on shares of DoorDash from $205.00 to $175.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Finally, Jefferies Financial Group reissued a "hold" rating and issued a $250.00 price objective (up previously from $235.00) on shares of DoorDash in a research note on Tuesday. Eleven analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $226.97.

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.