Tradewinds LLC. Takes Position in DoorDash, Inc. (NASDAQ:DASH)

Tradewinds LLC. acquired a new stake in DoorDash, Inc. (NASDAQ:DASH - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 28,433 shares of the company's stock, valued at approximately $5,197,000. DoorDash comprises 1.5% of Tradewinds LLC.'s holdings, making the stock its 20th biggest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in 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 increased its holdings 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 period. Arrowstreet Capital Limited Partnership increased its holdings 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 period. Franklin Resources Inc. increased its holdings 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 period. Finally, Raymond James Financial Inc. acquired a new position in DoorDash during the fourth quarter worth $146,094,000. Hedge funds and other institutional investors own 90.64% of the company's stock.

DoorDash Stock Performance

NASDAQ DASH traded up $4.59 during trading hours on Wednesday, hitting $246.06. 2,747,487 shares of the company's stock were exchanged, compared to its average volume of 4,244,615. The business's 50 day moving average is $214.15 and its 200-day moving average is $194.74. DoorDash, Inc. has a 12-month low of $99.32 and a 12-month high of $248.74. The firm has a market capitalization of $104.27 billion, a P/E ratio of 319.56 and a beta of 1.70.

DoorDash (NASDAQ:DASH - Get Free Report) last released 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 company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.10 billion. DoorDash had a return on equity of 4.39% and a net margin of 3.02%. The company's quarterly revenue was up 20.7% compared to the same quarter last year. During the same period last year, the business posted ($0.06) EPS. As a group, equities research analysts anticipate that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Ravi Inukonda sold 20,000 shares of the stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $247.00, for a total value of $4,940,000.00. Following the completion of the sale, the chief financial officer owned 245,530 shares in the company, valued at approximately $60,645,910. This trade represents a 7.53% decrease in their ownership of the stock. The transaction was disclosed in a filing 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 dated Thursday, June 5th. The shares were sold at an average price of $217.52, for a total value of $6,525,600.00. Following the completion of the sale, the director owned 22,545 shares of the company's stock, valued at approximately $4,903,988.40. This trade represents a 57.09% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 427,781 shares of company stock worth $94,277,848. Corporate insiders own 5.83% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. KeyCorp dropped their price objective on DoorDash from $240.00 to $230.00 and set an "overweight" rating on the stock in a report on Tuesday, April 15th. JMP Securities upped their price objective on DoorDash from $225.00 to $235.00 and gave the stock a "market outperform" rating in a report on Thursday, June 12th. UBS Group dropped their price objective on DoorDash from $197.00 to $196.00 and set a "neutral" rating on the stock in a report on Wednesday, May 7th. BTIG Research upped their price objective on DoorDash from $225.00 to $265.00 and gave the stock a "buy" rating in a report on Tuesday, July 1st. Finally, Wells Fargo & Company upped their price objective on DoorDash from $198.00 to $239.00 and gave the stock an "equal weight" rating in a report on Monday. Ten investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, DoorDash currently has an average rating of "Moderate Buy" and a consensus target price of $220.53.

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.