Praxis Investment Management Inc. Purchases 2,010 Shares of DoorDash, Inc. (NASDAQ:DASH)

Praxis Investment Management Inc. lifted its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 24.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,120 shares of the company’s stock after acquiring an additional 2,010 shares during the period. Praxis Investment Management Inc.’s holdings in DoorDash were worth $1,850,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in DASH. Norges Bank acquired a new position in DoorDash during the 4th quarter worth approximately $597,443,000. Capital World Investors increased its position in DoorDash by 26.4% during the 4th 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 in the last quarter. Arrowstreet Capital Limited Partnership increased its position in DoorDash by 67.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,654,891 shares of the company’s stock worth $780,858,000 after purchasing an additional 1,869,866 shares in the last quarter. Franklin Resources Inc. increased its position 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 purchasing an additional 949,414 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in DoorDash during the 4th quarter worth approximately $146,094,000. 90.64% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other DoorDash news, CFO Ravi Inukonda sold 14,715 shares of the firm’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $196.52, for a total value of $2,891,791.80. Following the transaction, the chief financial officer now directly owns 338,055 shares of the company’s stock, valued at approximately $66,434,568.60. This trade represents a 4.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stanley Tang sold 45,410 shares of the firm’s stock in a transaction 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 in the company, valued at $3,313,424.85. This trade represents a 71.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 342,274 shares of company stock valued at $69,198,499 over the last ninety days. 5.83% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

DASH has been the subject of a number of research analyst reports. Morgan Stanley lowered their price objective on shares of DoorDash from $245.00 to $210.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. JPMorgan Chase & Co. decreased their price target on shares of DoorDash from $205.00 to $175.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Oppenheimer restated a “hold” rating on shares of DoorDash in a research report on Monday, March 10th. Wall Street Zen upgraded shares of DoorDash from a “hold” rating to a “buy” rating in a research report on Saturday, June 7th. Finally, DA Davidson upped their price target on shares of DoorDash from $150.00 to $190.00 and gave the company a “neutral” rating in a research report on Tuesday, May 6th. Eleven equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $210.21.

DoorDash Stock Down 0.1%

Shares of NASDAQ DASH opened at $220.46 on Friday. The firm has a market cap of $93.42 billion, a PE ratio of 286.32 and a beta of 1.67. DoorDash, Inc. has a 12-month low of $99.32 and a 12-month high of $223.81. The company’s fifty day simple moving average is $200.53 and its 200 day simple moving average is $189.25.

DoorDash (NASDAQ:DASH) last issued its 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 analyst estimates of $3.10 billion. DoorDash had a net margin of 3.02% and a return on equity of 4.39%. DoorDash’s revenue was up 20.7% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.06) earnings per share. On average, equities analysts predict that DoorDash, Inc. will post 2.22 earnings per share for the current year.

About DoorDash

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.