Fifth Third Wealth Advisors LLC Makes New Investment in DoorDash, Inc. (NASDAQ:DASH)

Fifth Third Wealth Advisors LLC bought a new position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,374 shares of the company's stock, valued at approximately $434,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Pittenger & Anderson Inc. bought a new stake in shares of DoorDash in the fourth quarter valued at approximately $29,000. Denver PWM LLC bought a new stake in shares of DoorDash in the fourth quarter valued at approximately $30,000. Princeton Global Asset Management LLC bought a new stake in shares of DoorDash in the fourth quarter valued at approximately $34,000. IFP Advisors Inc boosted its position in shares of DoorDash by 31.8% in the fourth 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 period. Finally, Rothschild Investment LLC boosted its position in shares of DoorDash by 1,452.9% in the first quarter. Rothschild Investment LLC now owns 264 shares of the company's stock valued at $48,000 after acquiring an additional 247 shares during the period. Institutional investors own 90.64% of the company's stock.

Analysts Set New Price Targets

DASH has been the subject of several research reports. Wells Fargo & Company reduced their price objective on DoorDash from $201.00 to $198.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 7th. BMO Capital Markets reaffirmed an "outperform" rating on shares of DoorDash in a research report on Tuesday, April 29th. Benchmark raised their target price on DoorDash from $220.00 to $225.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Loop Capital raised their target price on DoorDash from $200.00 to $235.00 and gave the stock a "buy" rating in a research report on Monday, February 24th. Finally, Citigroup reaffirmed an "outperform" rating on shares of DoorDash in a research report on Monday, April 28th. Ten research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $209.97.

Insiders Place Their Bets

In other news, CFO Ravi Inukonda sold 14,296 shares of DoorDash stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $205.54, for a total transaction of $2,938,399.84. Following the transaction, the chief financial officer now owns 380,037 shares in the company, valued at $78,112,804.98. The trade was a 3.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $181.21, for a total value of $8,228,746.10. Following the transaction, the director now owns 18,285 shares in the company, valued at $3,313,424.85. This trade represents a 71.29% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 268,030 shares of company stock worth $52,907,806. Insiders own 5.83% of the company's stock.

DoorDash Stock Up 1.2%

DASH stock traded up $2.61 during midday trading on Friday, reaching $218.45. The stock had a trading volume of 2,586,885 shares, compared to its average volume of 4,211,247. DoorDash, Inc. has a twelve month low of $99.32 and a twelve month high of $220.88. The firm has a market cap of $92.57 billion, a price-to-earnings ratio of 809.07 and a beta of 1.67. The business has a fifty day simple moving average of $191.96 and a two-hundred day simple moving average of $186.37.

DoorDash (NASDAQ:DASH - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.39 by $0.05. DoorDash had a return on equity of 1.67% and a net margin of 1.15%. The firm had revenue of $3.03 billion for the quarter, compared to analysts' expectations of $3.10 billion. During the same quarter last year, the business earned ($0.06) earnings per share. The company's revenue was up 20.7% compared to the same quarter last year. On average, equities analysts predict that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

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.