Intelligence Driven Advisers LLC Acquires Shares of 1,176 DoorDash, Inc. (NASDAQ:DASH)

Intelligence Driven Advisers LLC acquired a new position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,176 shares of the company's stock, valued at approximately $215,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of DoorDash in the fourth quarter worth $597,443,000. Capital World Investors boosted its holdings in DoorDash by 26.4% in the 4th quarter. Capital World Investors now owns 12,153,265 shares of the company's stock worth $2,038,712,000 after buying an additional 2,538,160 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in DoorDash by 67.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company's stock worth $780,858,000 after buying an additional 1,869,866 shares in the last quarter. Franklin Resources Inc. raised its holdings in DoorDash by 25.0% during the fourth quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company's stock valued at $796,781,000 after acquiring an additional 949,414 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of DoorDash in the fourth quarter valued at about $146,094,000. Hedge funds and other institutional investors own 90.64% of the company's stock.

DoorDash Stock Up 1.1%

Shares of NASDAQ DASH opened at $242.32 on Monday. The business has a fifty day simple moving average of $206.04 and a 200-day simple moving average of $191.54. The company has a market cap of $102.68 billion, a price-to-earnings ratio of 314.71 and a beta of 1.67. DoorDash, Inc. has a 12 month low of $99.32 and a 12 month high of $244.58.

DoorDash (NASDAQ:DASH - Get Free Report) last released 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 net margin of 3.02% and a return on equity of 4.39%. The company had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter in the prior year, the firm earned ($0.06) EPS. The company's revenue was up 20.7% compared to the same quarter last year. As a group, sell-side analysts expect that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Analyst Ratings Changes

DASH has been the topic of several recent analyst reports. Stifel Nicolaus set a $198.00 target price on DoorDash and gave the company a "hold" rating in a research note on Tuesday, June 10th. Needham & Company LLC lifted 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. Raymond James Financial raised shares of DoorDash from an "outperform" rating to a "strong-buy" rating and boosted their target price for the stock from $215.00 to $260.00 in a report on Monday, June 23rd. Benchmark raised their target price on shares of DoorDash from $220.00 to $225.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Finally, Bank of America boosted their price target on shares of DoorDash from $230.00 to $245.00 and gave the stock a "buy" rating in a research note on Thursday, June 12th. Eleven analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $214.76.

Insider Activity

In related news, Director Ashley Still sold 2,495 shares of DoorDash stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $225.00, for a total transaction of $561,375.00. Following the completion of the transaction, the director now directly owns 1,565 shares of the company's stock, valued at $352,125. This trade represents a 61.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Andy Fang sold 30,000 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $217.52, for a total transaction of $6,525,600.00. Following the completion of the transaction, the director now owns 22,545 shares in the company, valued at approximately $4,903,988.40. This trade represents a 57.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 313,552 shares of company stock valued at $63,965,566. 5.83% of the stock is owned by insiders.

DoorDash Company 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.

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