Envestnet Portfolio Solutions Inc. Decreases Position in DoorDash, Inc. (NASDAQ:DASH)

Envestnet Portfolio Solutions Inc. decreased its stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 27.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,249 shares of the company's stock after selling 1,956 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in DoorDash were worth $959,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of DASH. IFP Advisors Inc grew its stake in DoorDash by 31.8% in the 4th quarter. IFP Advisors Inc now owns 224 shares of the company's stock worth $37,000 after acquiring an additional 54 shares during the period. Rothschild Investment LLC raised its stake in shares of DoorDash by 1,452.9% during the first quarter. Rothschild Investment LLC now owns 264 shares of the company's stock valued at $48,000 after purchasing an additional 247 shares during the period. Larson Financial Group LLC lifted its holdings in DoorDash by 695.6% in the 4th quarter. Larson Financial Group LLC now owns 358 shares of the company's stock worth $60,000 after buying an additional 313 shares in the last quarter. Summit Securities Group LLC purchased a new stake in DoorDash during the 4th quarter worth approximately $63,000. Finally, Huntington National Bank boosted its stake in DoorDash by 90.9% during the 4th quarter. Huntington National Bank now owns 485 shares of the company's stock valued at $81,000 after acquiring an additional 231 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on DASH. Evercore ISI reiterated an "outperform" rating on shares of DoorDash in a research report on Monday, March 10th. Citigroup reissued an "outperform" rating on shares of DoorDash in a research report on Thursday, June 12th. Benchmark raised their price objective on DoorDash from $220.00 to $225.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Stifel Nicolaus set a $198.00 target price on DoorDash and gave the stock a "hold" rating in a research report on Tuesday, June 10th. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $230.00 target price on shares of DoorDash in a report on Wednesday, May 7th. Eleven investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $214.76.

DoorDash Stock Performance

Shares of NASDAQ DASH traded down $3.49 during midday trading on Wednesday, hitting $232.68. 3,067,635 shares of the stock traded hands, compared to its average volume of 4,226,691. The firm has a market capitalization of $98.60 billion, a P/E ratio of 302.19 and a beta of 1.67. The firm has a 50-day moving average of $202.59 and a two-hundred day moving average of $190.12. DoorDash, Inc. has a one year low of $99.32 and a one year high of $238.28.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.05. The business had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.10 billion. DoorDash had a net margin of 3.02% and a return on equity of 4.39%. The company's revenue for the quarter was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.06) earnings per share. Equities analysts forecast that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Insider Activity at DoorDash

In other news, CEO Tony Xu sold 44,244 shares of DoorDash stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $220.71, for a total transaction of $9,765,093.24. Following the completion of the sale, the chief executive officer now owns 520,450 shares of the company's stock, valued at approximately $114,868,519.50. The trade was a 7.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Prabir Adarkar sold 62,267 shares of the stock in a transaction that occurred on 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 transaction, the chief operating officer now owns 942,554 shares in the company, valued at approximately $191,027,419.18. This represents a 6.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 327,559 shares of company stock valued at $66,306,707. 5.83% of the stock is 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.