Hennion & Walsh Asset Management Inc. increased its stake in shares of DoorDash, Inc. (NYSE:DASH – Get Rating) by 7.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,816 shares of the company’s stock after buying an additional 1,172 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in DoorDash were worth $821,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. Wipfli Financial Advisors LLC purchased a new stake in DoorDash during the third quarter worth about $25,000. Sentry Investment Management LLC purchased a new stake in DoorDash during the third quarter worth about $33,000. UMB Bank n.a. boosted its holdings in DoorDash by 42.3% during the fourth quarter. UMB Bank n.a. now owns 703 shares of the company’s stock worth $34,000 after buying an additional 209 shares in the last quarter. Alpha Paradigm Partners LLC purchased a new stake in DoorDash during the second quarter worth about $45,000. Finally, Signaturefd LLC boosted its holdings in DoorDash by 793.3% during the third quarter. Signaturefd LLC now owns 929 shares of the company’s stock worth $46,000 after buying an additional 825 shares in the last quarter. Hedge funds and other institutional investors own 72.65% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on DASH. Morgan Stanley lifted their target price on shares of DoorDash from $62.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Friday, February 17th. Oppenheimer lifted their target price on shares of DoorDash from $70.00 to $80.00 and gave the stock an “outperform” rating in a research report on Friday, February 17th. Wells Fargo & Company lifted their target price on shares of DoorDash from $71.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, February 17th. Bank of America cut their target price on shares of DoorDash from $80.00 to $72.00 and set a “buy” rating for the company in a research report on Tuesday, February 14th. Finally, Moffett Nathanson began coverage on shares of DoorDash in a research report on Monday, January 30th. They set an “outperform” rating and a $79.00 target price for the company. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $80.95.
DoorDash Stock Performance
DoorDash (NYSE:DASH – Get Rating) last released its earnings results on Thursday, February 16th. The company reported ($0.63) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.07. DoorDash had a negative net margin of 20.74% and a negative return on equity of 15.12%. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.77 billion. Sell-side analysts predict that DoorDash, Inc. will post -2.14 EPS for the current year.
Insiders Place Their Bets
In other DoorDash news, CEO Tony Xu sold 132,300 shares of the business’s stock in a transaction that occurred on Monday, March 13th. The shares were sold at an average price of $53.07, for a total transaction of $7,021,161.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Shona L. Brown sold 1,250 shares of the company’s stock in a transaction on Friday, January 6th. The shares were sold at an average price of $47.32, for a total value of $59,150.00. Following the completion of the transaction, the director now directly owns 82,278 shares in the company, valued at $3,893,394.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Tony Xu sold 132,300 shares of the company’s stock in a transaction on Monday, March 13th. The shares were sold at an average price of $53.07, for a total transaction of $7,021,161.00. The disclosure for this sale can be found here. Insiders sold a total of 401,424 shares of company stock worth $22,009,671 over the last ninety days. 12.10% of the stock is owned by company insiders.
DoorDash Company Profile
DoorDash, Inc operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash marketplace, which provides an array of services that enable merchants to solve mission-critical challenges, such as customer acquisition, delivery, insights and analytics, merchandising, payment processing, and customer support; and offers DoorDash Drive, a white-label logistics service; DoorDash Storefront that enables merchants to offer consumers on-demand access to e-commerce.
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