Pallas Capital Advisors LLC Acquires 11,597 Shares of DoorDash, Inc. (NASDAQ:DASH)

Pallas Capital Advisors LLC lifted its position in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 470.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,062 shares of the company's stock after buying an additional 11,597 shares during the quarter. Pallas Capital Advisors LLC's holdings in DoorDash were worth $2,570,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its position in 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 acquiring an additional 317,502 shares during the period. Capital World Investors increased its position in DoorDash by 26.4% during the fourth 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 period. Franklin Resources Inc. increased its position in DoorDash by 25.0% during the fourth 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 period. Arrowstreet Capital Limited Partnership increased its position in DoorDash by 67.1% during the fourth 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 during the period. Finally, Geode Capital Management LLC increased its position in DoorDash by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 4,558,821 shares of the company's stock worth $763,198,000 after acquiring an additional 86,667 shares during the period. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Stanley Tang sold 45,231 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $211.36, for a total transaction of $9,560,024.16. Following the completion of the sale, the director now directly owns 26,070 shares of the company's stock, valued at approximately $5,510,155.20. This represents a 63.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andy Fang sold 30,000 shares of the 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 sale, the director now directly owns 22,545 shares of the company's stock, valued at approximately $4,903,988.40. The trade was a 57.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 298,030 shares of company stock valued at $59,433,406 in the last ninety days. 5.83% of the stock is owned by insiders.

DoorDash Stock Performance

DoorDash stock traded up $2.36 during trading hours on Friday, reaching $218.96. 2,954,061 shares of the company's stock traded hands, compared to its average volume of 4,204,109. The firm has a market capitalization of $92.78 billion, a price-to-earnings ratio of 810.96 and a beta of 1.67. The firm's 50 day moving average is $196.51 and its 200-day moving average is $187.78. DoorDash, Inc. has a fifty-two week low of $99.32 and a fifty-two week high of $220.88.

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on DASH. Susquehanna boosted their target price on shares of DoorDash from $180.00 to $235.00 and gave the stock a "positive" rating in a research report on Thursday, February 13th. Bank of America boosted their target price on shares of DoorDash from $230.00 to $245.00 and gave the stock a "buy" rating in a research report on Thursday. Cantor Fitzgerald reissued an "overweight" rating and issued a $210.00 price target on shares of DoorDash in a report on Wednesday, May 7th. Citigroup reissued an "outperform" rating on shares of DoorDash in a report on Monday, April 28th. 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 investment 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, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $210.21.

About DoorDash

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.