Spire Wealth Management Boosts Stock Position in DoorDash, Inc. (NASDAQ:DASH)

Spire Wealth Management boosted its holdings in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 732.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,302 shares of the company's stock after buying an additional 4,665 shares during the quarter. Spire Wealth Management's holdings in DoorDash were worth $969,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Norges Bank acquired a new stake in DoorDash during the fourth quarter worth approximately $597,443,000. Capital World Investors grew its position in shares of 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 buying 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 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company's stock valued at $780,858,000 after buying an additional 1,869,866 shares during the last quarter. Franklin Resources Inc. raised its stake in 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. Finally, Raymond James Financial Inc. purchased a new stake in DoorDash in the fourth quarter valued at $146,094,000. 90.64% of the stock is currently owned by institutional investors and hedge funds.

DoorDash Stock Performance

DASH stock traded up $2.68 during trading on Friday, reaching $242.32. 7,323,728 shares of the company were exchanged, compared to its average volume of 4,213,649. The stock's 50 day moving average price is $206.04 and its 200 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. The company has a market cap of $102.68 billion, a P/E ratio of 314.71 and a beta of 1.67.

DoorDash (NASDAQ:DASH - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share (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 the consensus estimate of $3.10 billion. DoorDash had a net margin of 3.02% and a return on equity of 4.39%. The company's revenue for the quarter was up 20.7% on a year-over-year basis. During the same period last year, the firm earned ($0.06) EPS. As a group, equities research analysts forecast that DoorDash, Inc. will post 2.22 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on DASH shares. Wall Street Zen upgraded shares of DoorDash from a "hold" rating to a "buy" rating in a research note on Saturday, June 7th. Needham & Company LLC boosted their target price on DoorDash from $225.00 to $230.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Oppenheimer restated a "hold" rating on shares of DoorDash in a research note on Monday, March 10th. JMP Securities lifted their price target on DoorDash from $225.00 to $235.00 and gave the stock a "market outperform" rating in a research report on Thursday, June 12th. Finally, Morgan Stanley reduced their price objective on DoorDash from $245.00 to $210.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Eleven equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $214.76.

Insider Buying and Selling

In other news, Director Stanley Tang sold 45,410 shares of the firm's 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 completion of 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Tony Xu sold 44,244 shares of DoorDash 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 transaction, the chief executive officer now owns 520,450 shares of the company's stock, valued at $114,868,519.50. This represents a 7.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 313,552 shares of company stock valued at $63,965,566. 5.83% of the stock is 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.