Moran Wealth Management LLC Invests $231,000 in DoorDash, Inc. (NASDAQ:DASH)

Moran Wealth Management LLC acquired a new stake in shares of DoorDash, Inc. (NASDAQ:DASH - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 1,263 shares of the company's stock, valued at approximately $231,000.

Several other institutional investors and hedge funds have also recently modified their holdings of DASH. Vanguard Group Inc. lifted its position in shares of DoorDash by 1.0% in 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 in the last quarter. Capital World Investors increased its stake 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 acquiring an additional 2,538,160 shares during the last quarter. Franklin Resources Inc. raised its holdings 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. Arrowstreet Capital Limited Partnership raised its holdings 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. Finally, Geode Capital Management LLC boosted its position in shares of DoorDash by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 4,558,821 shares of the company's stock valued at $763,198,000 after acquiring an additional 86,667 shares during the last quarter. Institutional investors own 90.64% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on DASH shares. JPMorgan Chase & Co. reduced their price target on shares of DoorDash from $205.00 to $175.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Royal Bank Of Canada reissued an "outperform" rating and issued a $230.00 price objective on shares of DoorDash in a research note on Wednesday, May 7th. Wells Fargo & Company reduced their target price on shares of DoorDash from $201.00 to $198.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 7th. JMP Securities upped their target price on shares of DoorDash from $225.00 to $235.00 and gave the company a "market outperform" rating in a research report on Thursday, June 12th. Finally, FBN Securities started coverage on shares of DoorDash in a report on Friday, March 28th. They issued an "outperform" rating and a $230.00 price target for the company. Eleven research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, DoorDash presently has a consensus rating of "Moderate Buy" and a consensus price target of $214.76.

DoorDash Trading Up 1.1%

Shares of NASDAQ DASH traded up $2.68 during trading hours on Friday, reaching $242.32. The stock had a trading volume of 7,323,728 shares, compared to its average volume of 4,213,649. The firm has a market cap of $102.68 billion, a price-to-earnings ratio of 314.71 and a beta of 1.67. The business's fifty day moving average price is $206.04 and its two-hundred day moving average price is $191.43. DoorDash, Inc. has a 52-week low of $99.32 and a 52-week high of $242.63.

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

Insider Activity

In related news, Director Stanley Tang sold 45,410 shares of DoorDash stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $181.21, for a total transaction of $8,228,746.10. Following the transaction, the director now directly owns 18,285 shares of the company's stock, valued at $3,313,424.85. This trade represents a 71.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Prabir Adarkar sold 20,000 shares of the business's stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $184.85, for a total transaction of $3,697,000.00. Following the completion of the transaction, the chief operating officer now directly owns 887,348 shares of the company's stock, valued at $164,026,277.80. This trade represents a 2.20% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 313,552 shares of company stock worth $63,965,566. Company insiders own 5.83% of the company's stock.

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.