Vident Advisory LLC Increases Holdings in DoorDash, Inc. (NASDAQ:DASH)

Vident Advisory LLC raised its position in DoorDash, Inc. (NASDAQ:DASH) by 1.4% during the 4th quarter, Holdings Channel reports. The firm owned 10,721 shares of the company’s stock after acquiring an additional 147 shares during the quarter. Vident Advisory LLC’s holdings in DoorDash were worth $1,799,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of DASH. Norges Bank purchased a new position in DoorDash in the 4th quarter valued at about $597,443,000. Capital World Investors increased its position in DoorDash by 26.4% during the fourth quarter. Capital World Investors now owns 12,153,265 shares of the company’s stock worth $2,038,712,000 after purchasing an additional 2,538,160 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of DoorDash by 67.1% during 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 period. Franklin Resources Inc. raised its holdings in 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 buying an additional 949,414 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of DoorDash during the 4th quarter valued at $146,094,000. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Insider Buying and Selling at DoorDash

In other DoorDash news, COO Prabir Adarkar sold 20,000 shares of the company’s stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $184.85, for a total value of $3,697,000.00. Following the completion of the transaction, the chief operating officer now owns 887,348 shares in the company, valued at approximately $164,026,277.80. This represents a 2.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Ravi Inukonda sold 1,425 shares of the firm’s stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $187.22, for a total transaction of $266,788.50. Following the completion of the sale, 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 101,612 shares of company stock worth $18,808,326. 5.83% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on DASH. Piper Sandler reiterated a “neutral” rating and set a $210.00 target price (up from $160.00) on shares of DoorDash in a report on Wednesday, February 12th. Citigroup reaffirmed an “outperform” rating on shares of DoorDash in a report on Monday, April 28th. JMP Securities reaffirmed a “market outperform” rating and set a $225.00 price target on shares of DoorDash in a research note on Monday, April 28th. Wells Fargo & Company decreased their price objective on shares of DoorDash from $201.00 to $198.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 7th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $210.00 target price on shares of DoorDash in a research report on Wednesday, May 7th. Ten equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $209.97.

DoorDash Stock Down 1.9%

Shares of DASH stock opened at $200.87 on Friday. The company has a market cap of $85.12 billion, a P/E ratio of 743.96 and a beta of 1.68. The business has a 50 day moving average of $187.51 and a two-hundred day moving average of $183.44. DoorDash, Inc. has a 52 week low of $99.32 and a 52 week high of $215.25.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.05. The business 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 1.67% and a net margin of 1.15%. The business’s revenue was up 20.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.06) EPS. Analysts expect that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

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.