PNC Financial Services Group Inc. Acquires 2,612 Shares of DoorDash, Inc. (NASDAQ:DASH)

Key Points

• PNC Financial Services Group Inc. increased its stake in DoorDash, Inc. by 15.3%, owning 19,731 shares valued at approximately $3.61 million.
• Insider trading activity included CFO Ravi Inukonda selling 1,425 shares and Director Shona L. Brown selling 825 shares, indicating slight decreases in their holdings.
• Analysts have varying price targets for DoorDash, with the average target price at $259.18, and a consensus rating of "Moderate Buy" among analysts.

PNC Financial Services Group Inc. boosted its position in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 15.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 19,731 shares of the company's stock after purchasing an additional 2,612 shares during the period. PNC Financial Services Group Inc.'s holdings in DoorDash were worth $3,606,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Capital World Investors lifted 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 valued at $2,038,712,000 after purchasing an additional 2,538,160 shares during the last quarter. Marshall Wace LLP lifted its position in DoorDash by 0.6% during the fourth quarter. Marshall Wace LLP now owns 2,764,431 shares of the company's stock worth $463,733,000 after acquiring an additional 15,952 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in DoorDash by 46.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,515,861 shares of the company's stock worth $422,036,000 after acquiring an additional 800,322 shares during the last quarter. Northern Trust Corp lifted its position in DoorDash by 18.8% during the fourth quarter. Northern Trust Corp now owns 2,393,725 shares of the company's stock worth $401,547,000 after acquiring an additional 378,341 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in DoorDash by 1.3% during the fourth quarter. First Trust Advisors LP now owns 2,181,416 shares of the company's stock worth $365,932,000 after acquiring an additional 26,952 shares during the last quarter. 90.64% of the stock is currently owned by institutional investors and hedge funds.

DoorDash Price Performance

NASDAQ:DASH traded down $11.80 during mid-day trading on Friday, reaching $259.19. The stock had a trading volume of 5,340,842 shares, compared to its average volume of 3,280,438. The stock has a 50-day simple moving average of $236.11 and a two-hundred day simple moving average of $206.65. The stock has a market capitalization of $109.83 billion, a PE ratio of 144.00 and a beta of 1.70. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.07 and a quick ratio of 1.72. DoorDash, Inc. has a 12 month low of $121.44 and a 12 month high of $278.15.

DoorDash (NASDAQ:DASH - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.65 EPS for the quarter, beating analysts' consensus estimates of $0.42 by $0.23. DoorDash had a return on equity of 9.56% and a net margin of 6.57%. The company had revenue of $3.28 billion during the quarter, compared to analysts' expectations of $3.16 billion. During the same period in the prior year, the company earned ($0.38) EPS. DoorDash's revenue was up 24.9% compared to the same quarter last year. On average, equities analysts anticipate that DoorDash, Inc. will post 2.22 earnings per share for the current year.

Insider Transactions at DoorDash

In other DoorDash news, Director Andy Fang sold 30,000 shares of the company's stock in a transaction dated 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 owned 22,545 shares of the company's stock, valued at $4,903,988.40. This represents a 57.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Prabir Adarkar sold 62,267 shares of the company's stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $202.67, for a total value of $12,619,652.89. Following the completion of the transaction, the chief operating officer directly owned 942,554 shares of the company's stock, valued at approximately $191,027,419.18. The trade was a 6.20% decrease in their position. The disclosure for this sale can be found here. Insiders sold 583,537 shares of company stock worth $133,720,004 in the last 90 days. 5.83% of the stock is currently owned by company insiders.

Analyst Ratings Changes

DASH has been the subject of several research reports. Bank of America raised their price objective on shares of DoorDash from $230.00 to $245.00 and gave the stock a "buy" rating in a research 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, July 26th. Wells Fargo & Company raised their price objective on shares of DoorDash from $239.00 to $280.00 and gave the stock an "equal weight" rating in a research report on Thursday. Benchmark raised their price objective on shares of DoorDash from $260.00 to $315.00 and gave the stock a "buy" rating in a research report on Thursday. Finally, Citigroup restated an "outperform" rating on shares of DoorDash in a research report on Thursday. Twelve analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, DoorDash currently has a consensus rating of "Moderate Buy" and a consensus price target of $259.18.

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.