Mission Wealth Management LP Makes New Investment in DoorDash, Inc. (NASDAQ:DASH)

Mission Wealth Management LP purchased a new stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 1,162 shares of the company's stock, valued at approximately $212,000.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of DoorDash by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 31,323,404 shares of the company's stock worth $5,254,501,000 after buying an additional 317,502 shares during the last quarter. Capital World Investors boosted its holdings in shares of DoorDash by 26.4% during the 4th quarter. Capital World Investors now owns 12,153,265 shares of the company's stock valued at $2,038,712,000 after acquiring an additional 2,538,160 shares in the last quarter. Franklin Resources Inc. grew its position in 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 during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings 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 purchasing an additional 1,869,866 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in DoorDash by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 4,558,821 shares of the company's stock valued at $763,198,000 after purchasing an additional 86,667 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Bank of America boosted their price target on DoorDash from $230.00 to $245.00 and gave the stock a "buy" rating in a report on Thursday, June 12th. Wall Street Zen upgraded shares of DoorDash from a "hold" rating to a "buy" rating in a research report on Saturday, June 7th. Wells Fargo & Company decreased their price target on shares of DoorDash from $201.00 to $198.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 7th. UBS Group decreased their price objective on DoorDash from $197.00 to $196.00 and set a "neutral" rating for the company in a report on Wednesday, May 7th. Finally, JPMorgan Chase & Co. cut their target price on DoorDash from $205.00 to $175.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Eleven investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company's stock. According to MarketBeat.com, DoorDash presently has an average rating of "Moderate Buy" and an average price target of $210.21.

DoorDash Stock Performance

NASDAQ DASH traded down $0.12 on Friday, reaching $220.46. 6,878,903 shares of the company's stock traded hands, compared to its average volume of 4,232,531. The stock has a 50 day moving average price of $199.73 and a 200-day moving average price of $188.95. The firm has a market cap of $93.42 billion, a price-to-earnings ratio of 286.32 and a beta of 1.67. DoorDash, Inc. has a fifty-two week low of $99.32 and a fifty-two week high of $223.80.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.39 by $0.05. DoorDash had a return on equity of 4.39% and a net margin of 3.02%. The firm had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same period last year, the company earned ($0.06) earnings per share. DoorDash's revenue for the quarter was up 20.7% compared to the same quarter last year. As a group, equities research analysts anticipate that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Insider Buying and Selling at DoorDash

In related news, COO Prabir Adarkar sold 20,000 shares of the stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $185.58, for a total transaction of $3,711,600.00. Following the completion of the transaction, the chief operating officer now owns 887,348 shares of the company's stock, valued at approximately $164,674,041.84. This trade represents a 2.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Ravi Inukonda sold 14,715 shares of DoorDash stock in a transaction on Monday, March 24th. The shares were sold at an average price of $196.52, for a total value of $2,891,791.80. Following the completion of the sale, the chief financial officer now directly owns 338,055 shares of the company's stock, valued at $66,434,568.60. The trade was a 4.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 342,274 shares of company stock worth $69,198,499 in the last three months. 5.83% of the stock is owned by corporate 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.