Securian Asset Management Inc. Makes New Investment in DoorDash, Inc. (NASDAQ:DASH)

Securian Asset Management Inc. bought a new stake in shares of DoorDash, Inc. (NASDAQ:DASH) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 17,970 shares of the company’s stock, valued at approximately $3,284,000.

Several other institutional investors and hedge funds also recently made changes to their positions in DASH. Brighton Jones LLC raised its position in shares of DoorDash by 24.0% during the 4th quarter. Brighton Jones LLC now owns 9,336 shares of the company’s stock valued at $1,566,000 after acquiring an additional 1,807 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of DoorDash during the 4th quarter valued at $219,000. Independent Advisor Alliance bought a new stake in shares of DoorDash during the 4th quarter valued at $390,000. Sequoia Financial Advisors LLC increased its position in shares of DoorDash by 24.6% in the 4th quarter. Sequoia Financial Advisors LLC now owns 4,961 shares of the company’s stock valued at $832,000 after buying an additional 981 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of DoorDash by 38.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 551 shares of the company’s stock valued at $92,000 after buying an additional 153 shares in the last quarter. Institutional investors own 90.64% of the company’s stock.

Insider Activity at DoorDash

In other news, COO Prabir Adarkar sold 62,267 shares of the firm’s stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $202.67, for a total transaction of $12,619,652.89. Following the transaction, the chief operating officer directly owned 942,554 shares of the company’s stock, valued at approximately $191,027,419.18. This trade represents a 6.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Ravi Inukonda sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $247.00, for a total transaction of $4,940,000.00. Following the transaction, the chief financial officer directly owned 245,530 shares in the company, valued at $60,645,910. This represents a 7.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 429,031 shares of company stock valued at $94,584,086. 5.83% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on DASH shares. JPMorgan Chase & Co. lowered their price objective 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. UBS Group lowered their price objective on shares of DoorDash from $197.00 to $196.00 and set a “neutral” rating for the company in a research report on Wednesday, May 7th. FBN Securities started coverage on shares of DoorDash in a research report on Friday, March 28th. They issued an “outperform” rating and a $230.00 price objective for the company. BTIG Research upped their price objective on shares of DoorDash from $225.00 to $265.00 and gave the company a “buy” rating in a research report on Tuesday, July 1st. Finally, JMP Securities upped their price objective on shares of DoorDash from $225.00 to $235.00 and gave the company a “market outperform” rating in a research report on Thursday, June 12th. Ten research analysts have rated the stock with a hold rating, twenty-five 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 an average rating of “Moderate Buy” and a consensus price target of $223.44.

DoorDash Stock Up 1.0%

Shares of DASH stock opened at $242.85 on Tuesday. The firm has a 50 day moving average price of $216.76 and a two-hundred day moving average price of $196.39. The company has a market capitalization of $102.91 billion, a PE ratio of 315.39 and a beta of 1.70. DoorDash, Inc. has a 12-month low of $99.32 and a 12-month high of $248.74.

DoorDash (NASDAQ:DASH) last announced its earnings results on Tuesday, May 6th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.39 by $0.05. DoorDash had a net margin of 3.02% and a return on equity of 4.39%. The company had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same period last year, the firm earned ($0.06) earnings per share. The business’s revenue for the quarter was up 20.7% on a year-over-year basis. As a group, research analysts expect that DoorDash, Inc. will post 2.22 EPS 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.