DoorDash, Inc. (NASDAQ:DASH) Shares Bought by Merit Financial Group LLC

Merit Financial Group LLC raised its position in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) by 324.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,749 shares of the company's stock after acquiring an additional 9,748 shares during the quarter. Merit Financial Group LLC's holdings in DoorDash were worth $2,330,000 as of its most recent SEC filing.

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

DoorDash Price Performance

DASH stock traded up $2.61 during trading on Friday, hitting $218.45. 2,586,885 shares of the stock traded hands, compared to its average volume of 4,206,039. DoorDash, Inc. has a 1 year low of $99.32 and a 1 year high of $220.88. The firm's 50 day moving average is $191.96 and its two-hundred day moving average is $186.37. The stock has a market cap of $92.57 billion, a price-to-earnings ratio of 809.07 and a beta of 1.67.

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

Insiders Place Their Bets

In related news, Director Stanley Tang sold 45,231 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $211.36, for a total value of $9,560,024.16. Following the sale, the director now owns 26,070 shares in the company, valued at $5,510,155.20. This represents a 63.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ravi Inukonda sold 14,296 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $205.54, for a total value of $2,938,399.84. Following the transaction, the chief financial officer now directly owns 380,037 shares of the company's stock, valued at approximately $78,112,804.98. The trade was a 3.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 268,030 shares of company stock worth $52,907,806. Company insiders own 5.83% of the company's stock.

Analyst Upgrades and Downgrades

DASH has been the subject of several analyst reports. Piper Sandler reaffirmed a "neutral" rating and set a $210.00 price objective (up from $160.00) on shares of DoorDash in a research note on Wednesday, February 12th. The Goldman Sachs Group upped their price objective on DoorDash from $192.00 to $212.00 and gave the company a "neutral" rating in a research note on Wednesday, February 12th. FBN Securities initiated coverage on DoorDash in a research note on Friday, March 28th. They set an "outperform" rating and a $230.00 price objective for the company. Loop Capital upped their price objective on DoorDash from $200.00 to $235.00 and gave the company a "buy" rating in a research note on Monday, February 24th. Finally, Roth Capital set a $191.00 price objective on DoorDash and gave the company a "neutral" rating in a research note on Wednesday, May 7th. Ten analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $209.97.

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.