Optas LLC Purchases New Shares in DoorDash, Inc. (NASDAQ:DASH)

Optas LLC acquired a new stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,277 shares of the company's stock, valued at approximately $233,000.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC increased its stake in shares of DoorDash by 5.3% during the 1st quarter. Brighton Jones LLC now owns 9,829 shares of the company's stock worth $1,796,000 after purchasing an additional 493 shares during the last quarter. Ritholtz Wealth Management bought a new position in DoorDash during the first quarter valued at $240,000. Wealth Enhancement Advisory Services LLC increased its position in DoorDash by 12.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 43,817 shares of the company's stock worth $8,008,000 after buying an additional 4,827 shares during the last quarter. CVA Family Office LLC raised its stake in shares of DoorDash by 12.7% in the first quarter. CVA Family Office LLC now owns 774 shares of the company's stock valued at $141,000 after buying an additional 87 shares during the period. Finally, Everhart Financial Group Inc. lifted its position in shares of DoorDash by 10.7% during the 1st quarter. Everhart Financial Group Inc. now owns 5,056 shares of the company's stock valued at $924,000 after buying an additional 489 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors.

DoorDash Stock Up 1.1%

NASDAQ DASH opened at $218.96 on Monday. The company has a 50-day simple moving average of $196.51 and a two-hundred day simple moving average of $187.92. DoorDash, Inc. has a 12-month low of $99.32 and a 12-month high of $220.88. The firm has a market cap of $92.78 billion, a price-to-earnings ratio of 810.96 and a beta of 1.67.

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 the consensus estimate of $0.39 by $0.05. DoorDash had a return on equity of 1.67% and a net margin of 1.15%. The company had revenue of $3.03 billion during the quarter, compared to analysts' expectations of $3.10 billion. During the same period in the prior year, the business posted ($0.06) EPS. DoorDash's quarterly revenue was up 20.7% compared to the same quarter last year. Equities analysts expect that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on DASH shares. Citigroup restated an "outperform" rating on shares of DoorDash in a research note on Monday, April 28th. Cantor Fitzgerald restated an "overweight" rating and issued a $210.00 target price on shares of DoorDash in a research note on Wednesday, May 7th. KeyCorp decreased their price target on DoorDash from $240.00 to $230.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. JPMorgan Chase & Co. decreased their target price on shares of DoorDash from $205.00 to $175.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Finally, Roth Capital set a $191.00 price target on shares of DoorDash and gave the company a "neutral" rating in a report on Wednesday, May 7th. Eleven analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $210.21.

Insider Buying and Selling at DoorDash

In other news, CFO Ravi Inukonda sold 1,425 shares of the firm's stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $187.22, for a total value of $266,788.50. Following the transaction, the chief financial officer now owns 337,430 shares in the company, valued at approximately $63,173,644.60. This trade represents a 0.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Prabir Adarkar sold 20,000 shares of the company's stock in a transaction 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 sale, the chief operating officer now owns 887,348 shares of the company's stock, valued at $164,674,041.84. This represents a 2.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 298,030 shares of company stock worth $59,433,406. 5.83% of the stock is currently 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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