Ritholtz Wealth Management Acquires New Stake in DoorDash, Inc. (NASDAQ:DASH)

Ritholtz Wealth Management acquired a new stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,314 shares of the company's stock, valued at approximately $240,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of DoorDash in the fourth quarter valued at approximately $597,443,000. Capital World Investors grew its position in shares of DoorDash by 26.4% in the fourth 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. Arrowstreet Capital Limited Partnership grew its position in shares of DoorDash by 67.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company's stock valued at $780,858,000 after purchasing an additional 1,869,866 shares during the last quarter. Franklin Resources Inc. grew its position in shares of DoorDash by 25.0% in the fourth quarter. Franklin Resources Inc. now owns 4,749,810 shares of the company's stock valued at $796,781,000 after purchasing an additional 949,414 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of DoorDash in the fourth quarter valued at approximately $146,094,000. Institutional investors own 90.64% of the company's stock.

Insiders Place Their Bets

In other news, CFO Ravi Inukonda sold 1,425 shares of the business's stock in a transaction that occurred on Friday, April 25th. The stock was 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 $63,173,644.60. The trade was a 0.42% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Tony Xu sold 44,244 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $220.71, for a total value of $9,765,093.24. Following the completion of the transaction, the chief executive officer now owns 520,450 shares in the company, valued at $114,868,519.50. The trade was a 7.84% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 342,274 shares of company stock valued at $69,198,499. Corporate insiders own 5.83% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on DASH. DA Davidson upped their target price on DoorDash from $150.00 to $190.00 and gave the company a "neutral" rating in a research report on Tuesday, May 6th. Wedbush reissued an "outperform" rating on shares of DoorDash in a research report on Wednesday, May 7th. Loop Capital increased their price target on DoorDash from $200.00 to $235.00 and gave the stock a "buy" rating in a research report on Monday, February 24th. Cantor Fitzgerald reissued an "overweight" rating and set a $210.00 price target on shares of DoorDash in a research report on Wednesday, May 7th. Finally, Morgan Stanley reduced their price target on DoorDash from $245.00 to $210.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Eleven analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $210.21.

DoorDash Stock Performance

DASH traded down $0.12 during midday trading on Friday, reaching $220.46. 6,878,903 shares of the company were exchanged, compared to its average volume of 4,221,786. The company's fifty day moving average price is $200.53 and its 200 day moving average price is $189.34. The company has a market cap of $93.42 billion, a price-to-earnings ratio of 286.31 and a beta of 1.67. DoorDash, Inc. has a one year low of $99.32 and a one year high of $223.81.

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

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.