Nisa Investment Advisors LLC Increases Stake in DoorDash, Inc. (NYSE:DASH)

Posted by on Jul 28th, 2023

Nisa Investment Advisors LLC raised its stake in shares of DoorDash, Inc. (NYSE:DASH – Free Report) by 4,302.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,825 shares of the company’s stock after buying an additional 51,625 shares during the quarter. Nisa Investment Advisors LLC’s holdings in DoorDash were worth $3,358,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of DASH. Elequin Securities LLC bought a new position in shares of DoorDash during the 4th quarter valued at approximately $25,000. Riverview Trust Co bought a new stake in DoorDash in the fourth quarter worth $29,000. CI Investments Inc. lifted its position in DoorDash by 122.4% in the fourth quarter. CI Investments Inc. now owns 714 shares of the company’s stock worth $35,000 after buying an additional 393 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in DoorDash by 887.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,007 shares of the company’s stock worth $49,000 after buying an additional 905 shares during the last quarter. Finally, Quadrant Capital Group LLC lifted its position in DoorDash by 541.4% in the fourth quarter. Quadrant Capital Group LLC now owns 1,007 shares of the company’s stock worth $49,000 after buying an additional 850 shares during the last quarter. 75.09% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on DASH. UBS Group raised their price target on DoorDash from $68.00 to $70.00 in a research report on Friday, May 5th. Wells Fargo & Company began coverage on DoorDash in a research note on Wednesday, June 7th. They set an “equal weight” rating and a $70.00 price target on the stock. Gordon Haskett lowered DoorDash from a “buy” rating to a “hold” rating and cut their price target for the company from $73.00 to $72.00 in a research note on Wednesday, June 14th. DA Davidson cut their price target on DoorDash from $77.00 to $72.00 in a research note on Monday, May 8th. Finally, Oppenheimer raised their price target on DoorDash from $80.00 to $85.00 in a research note on Friday, May 5th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $76.81.

Insider Buying and Selling

In related news, CEO Tony Xu sold 132,300 shares of DoorDash stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $84.56, for a total transaction of $11,187,288.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Andy Fang sold 67,000 shares of DoorDash stock in a transaction that occurred on Friday, July 14th. The stock was sold at an average price of $82.78, for a total transaction of $5,546,260.00. Following the completion of the transaction, the director now directly owns 49,688 shares in the company, valued at $4,113,172.64. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Tony Xu sold 132,300 shares of DoorDash stock in a transaction that occurred on Monday, July 17th. The shares were sold at an average price of $84.56, for a total value of $11,187,288.00. The disclosure for this sale can be found here. Insiders sold 959,972 shares of company stock valued at $70,227,985 over the last quarter. 9.59% of the stock is currently owned by company insiders.

DoorDash Stock Performance

Shares of NYSE DASH opened at $86.06 on Friday. The company has a market cap of $33.44 billion, a PE ratio of -24.24 and a beta of 1.57. The business has a 50-day simple moving average of $74.20 and a two-hundred day simple moving average of $64.66. DoorDash, Inc. has a fifty-two week low of $41.37 and a fifty-two week high of $87.96.

DoorDash (NYSE:DASH – Get Free Report) last issued its quarterly earnings results on Thursday, May 4th. The company reported ($0.41) earnings per share for the quarter, topping the consensus estimate of ($0.56) by $0.15. DoorDash had a negative return on equity of 14.00% and a negative net margin of 18.98%. The business had revenue of $2.04 billion during the quarter, compared to the consensus estimate of $1.92 billion. On average, sell-side analysts predict that DoorDash, Inc. will post -1.75 earnings per share for the current fiscal year.

DoorDash Company Profile

(Free Report)

DoorDash, Inc operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash and Wolt marketplaces, 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; DashPass and Wolt+, a membership products; and offers DoorDash Drive and Wolt Drive, a white-label delivery fulfillment services; DoorDash Storefront that enables merchants to offer consumers on-demand access to e-commerce; and Bbot, which offers merchants digital ordering and payment solutions for in-store and online channels.

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Institutional Ownership by Quarter for DoorDash (NYSE:DASH)

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