Miracle Mile Advisors LLC Makes New Investment in DoorDash, Inc. (NASDAQ:DASH)

Miracle Mile 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 Form 13F filing with the SEC. The fund bought 1,361 shares of the company's stock, valued at approximately $249,000.

A number of other hedge funds also recently bought and sold shares of DASH. Brighton Jones LLC lifted its position in shares of DoorDash by 24.0% during the 4th quarter. Brighton Jones LLC now owns 9,336 shares of the company's stock worth $1,566,000 after purchasing an additional 1,807 shares during the last quarter. Principal Financial Group Inc. increased its position in DoorDash by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 93,382 shares of the company's stock worth $15,665,000 after buying an additional 2,596 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of DoorDash by 36.2% during the fourth quarter. Jones Financial Companies Lllp now owns 1,926 shares of the company's stock worth $323,000 after buying an additional 512 shares during the last quarter. Truist Financial Corp boosted its position in shares of DoorDash by 35.1% in the fourth quarter. Truist Financial Corp now owns 8,597 shares of the company's stock valued at $1,442,000 after acquiring an additional 2,233 shares during the period. Finally, Allworth Financial LP grew its stake in shares of DoorDash by 26.9% in the fourth quarter. Allworth Financial LP now owns 840 shares of the company's stock worth $149,000 after acquiring an additional 178 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors.

Insider Activity at DoorDash

In other DoorDash news, Director Andy Fang sold 30,000 shares of the firm's stock in a transaction that occurred on 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 now directly owns 22,545 shares in the company, valued at $4,903,988.40. This trade represents a 57.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Keith Yandell sold 5,410 shares of DoorDash stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $204.53, for a total value of $1,106,507.30. Following the transaction, the insider now owns 104,922 shares of the company's stock, valued at $21,459,696.66. The trade was a 4.90% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 298,030 shares of company stock valued at $59,433,406. Corporate insiders own 5.83% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on DASH. Bank of America upped their target price on shares of DoorDash from $230.00 to $245.00 and gave the company a "buy" rating in a research note on Thursday. KeyCorp lowered their target price on shares of DoorDash from $240.00 to $230.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 15th. UBS Group cut their price target on shares of DoorDash from $197.00 to $196.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $230.00 price objective on shares of DoorDash in a report on Wednesday, May 7th. Finally, Oppenheimer reissued a "hold" rating on shares of DoorDash in a report on Monday, March 10th. Eleven research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company's stock. According to data from MarketBeat, DoorDash currently has a consensus rating of "Moderate Buy" and a consensus price target of $210.21.

DoorDash Trading Down 0.6%

Shares of DoorDash stock traded down $1.20 during trading on Thursday, reaching $216.60. The stock had a trading volume of 2,510,505 shares, compared to its average volume of 4,203,649. The company has a market capitalization of $91.78 billion, a price-to-earnings ratio of 802.22 and a beta of 1.67. DoorDash, Inc. has a 52 week low of $99.32 and a 52 week high of $220.88. The stock has a fifty day moving average price of $194.44 and a two-hundred day moving average price of $187.25.

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, topping the consensus estimate of $0.39 by $0.05. DoorDash had a net margin of 1.15% and a return on equity of 1.67%. The company had revenue of $3.03 billion during the quarter, compared to analysts' expectations of $3.10 billion. During the same period last year, the business earned ($0.06) EPS. The business's quarterly revenue was up 20.7% on a year-over-year basis. On average, equities analysts forecast that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

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.