Cerity Partners LLC Has $8.69 Million Stock Position in DoorDash, Inc. (NASDAQ:DASH)

Cerity Partners LLC increased its position in DoorDash, Inc. (NASDAQ:DASH - Free Report) by 94.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,908 shares of the company's stock after buying an additional 42,690 shares during the period. Cerity Partners LLC's holdings in DoorDash were worth $8,693,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Versor Investments LP bought a new stake in DoorDash during the third quarter worth approximately $556,000. Assenagon Asset Management S.A. increased its stake in DoorDash by 1,725.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,113,175 shares of the company's stock worth $110,082,000 after acquiring an additional 1,052,198 shares during the last quarter. Angeles Investment Advisors LLC bought a new stake in DoorDash during the third quarter worth approximately $336,000. Bank of Nova Scotia increased its stake in DoorDash by 685.9% during the third quarter. Bank of Nova Scotia now owns 46,751 shares of the company's stock worth $3,715,000 after acquiring an additional 40,802 shares during the last quarter. Finally, Jump Financial LLC increased its stake in DoorDash by 131.3% during the third quarter. Jump Financial LLC now owns 15,841 shares of the company's stock worth $1,259,000 after acquiring an additional 8,993 shares during the last quarter. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on DASH. Oppenheimer boosted their price objective on DoorDash from $110.00 to $140.00 and gave the stock an "outperform" rating in a research note on Friday, February 16th. Piper Sandler raised DoorDash from an "underweight" rating to a "neutral" rating and boosted their price objective for the stock from $53.00 to $127.00 in a research note on Friday, March 15th. Wells Fargo & Company upped their target price on DoorDash from $100.00 to $125.00 and gave the company an "equal weight" rating in a research note on Thursday, April 4th. Truist Financial upped their target price on DoorDash from $140.00 to $155.00 and gave the company a "buy" rating in a research note on Wednesday, March 27th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $133.00 target price on shares of DoorDash in a research note on Tuesday, February 6th. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $128.25.

Insider Buying and Selling at DoorDash

In other DoorDash news, CEO Tony Xu sold 132,300 shares of the company's stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $131.96, for a total transaction of $17,458,308.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Tony Xu sold 132,300 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $131.96, for a total value of $17,458,308.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Keith Yandell sold 3,500 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $104.89, for a total transaction of $367,115.00. Following the completion of the sale, the insider now directly owns 179,350 shares in the company, valued at $18,812,021.50. The disclosure for this sale can be found here. Insiders sold a total of 364,982 shares of company stock valued at $47,221,669 in the last ninety days. Insiders own 9.59% of the company's stock.

DoorDash Trading Down 4.0 %

Shares of DASH stock traded down $5.48 on Monday, reaching $132.90. 2,775,701 shares of the stock were exchanged, compared to its average volume of 3,628,355. The business's 50 day moving average price is $129.22 and its 200 day moving average price is $105.70. The company has a market capitalization of $53.69 billion, a price-to-earnings ratio of -92.94, a PEG ratio of 16.22 and a beta of 1.79. DoorDash, Inc. has a twelve month low of $56.59 and a twelve month high of $143.34.

DoorDash (NASDAQ:DASH - Get Free Report) last released its quarterly earnings data on Thursday, February 15th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.24). DoorDash had a negative net margin of 6.46% and a negative return on equity of 8.49%. The company had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same quarter in the prior year, the company earned ($0.63) EPS. The business's revenue was up 26.7% on a year-over-year basis. Equities research analysts forecast that DoorDash, Inc. will post 0.2 earnings per share for the current 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.