PNC Financial Services Group Inc. Purchases 23,538 Shares of DoorDash, Inc. $DASH

PNC Financial Services Group Inc. lifted its holdings in DoorDash, Inc. (NASDAQ:DASH) by 119.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 43,269 shares of the company’s stock after purchasing an additional 23,538 shares during the period. PNC Financial Services Group Inc.’s holdings in DoorDash were worth $10,666,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of DoorDash by 25.8% in the 1st quarter. Vanguard Group Inc. now owns 39,397,286 shares of the company’s stock worth $7,200,642,000 after acquiring an additional 8,073,882 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in DoorDash by 15.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,907,970 shares of the company’s stock valued at $897,031,000 after acquiring an additional 641,601 shares during the last quarter. Invesco Ltd. boosted its stake in DoorDash by 41.9% in the first quarter. Invesco Ltd. now owns 4,799,851 shares of the company’s stock valued at $877,269,000 after acquiring an additional 1,416,194 shares in the last quarter. Northern Trust Corp grew its holdings in DoorDash by 38.2% in the first quarter. Northern Trust Corp now owns 3,309,237 shares of the company’s stock worth $604,829,000 after purchasing an additional 915,512 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in DoorDash by 36.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,151,986 shares of the company’s stock worth $576,089,000 after buying an additional 842,637 shares during the last quarter. Institutional investors own 90.64% of the company’s stock.

Insider Buying and Selling at DoorDash

In other DoorDash news, CEO Tony Xu sold 291,403 shares of the stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $238.19, for a total value of $69,409,280.57. Following the completion of the sale, the chief executive officer owned 229,047 shares in the company, valued at approximately $54,556,704.93. This represents a 55.99% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andy Fang sold 30,000 shares of DoorDash stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $243.32, for a total value of $7,299,600.00. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 791,110 shares of company stock valued at $196,549,692. Insiders own 5.83% of the company’s stock.

DoorDash Stock Performance

NASDAQ DASH opened at $206.96 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.04 and a quick ratio of 2.04. The stock’s 50 day simple moving average is $254.14 and its 200-day simple moving average is $238.14. The company has a market cap of $89.20 billion, a PE ratio of 105.06 and a beta of 1.70. DoorDash, Inc. has a 1-year low of $155.40 and a 1-year high of $285.50.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Wednesday, November 5th. The company reported $0.55 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.13). DoorDash had a return on equity of 9.97% and a net margin of 6.83%.The firm had revenue of $3.45 billion for the quarter, compared to analysts’ expectations of $3.35 billion. During the same quarter in the previous year, the firm posted $0.38 earnings per share. The firm’s revenue for the quarter was up 27.3% compared to the same quarter last year. As a group, equities research analysts anticipate that DoorDash, Inc. will post 2.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Wall Street Zen lowered shares of DoorDash from a “buy” rating to a “hold” rating in a research note on Saturday, November 1st. Guggenheim upgraded DoorDash to a “strong-buy” rating in a research report on Wednesday, October 15th. The Goldman Sachs Group cut their price target on DoorDash from $315.00 to $279.00 and set a “buy” rating on the stock in a research report on Friday, November 7th. Morgan Stanley increased their price target on shares of DoorDash from $300.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, October 20th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $325.00 price target (up previously from $275.00) on shares of DoorDash in a report on Thursday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and eleven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $279.00.

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.