DoorDash, Inc. (NASDAQ:DASH) Shares Acquired by SVB Wealth LLC

SVB Wealth LLC increased its position in shares of DoorDash, Inc. (NASDAQ:DASH) by 23.3% during the fourth quarter, Holdings Channel reports. The fund owned 12,381 shares of the company’s stock after acquiring an additional 2,338 shares during the quarter. SVB Wealth LLC’s holdings in DoorDash were worth $1,224,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in DASH. Versor Investments LP purchased a new stake in shares of DoorDash in the third quarter worth approximately $556,000. Assenagon Asset Management S.A. lifted its position in DoorDash by 1,725.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,113,175 shares of the company’s stock worth $110,082,000 after buying an additional 1,052,198 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of DoorDash during the 4th quarter valued at $769,000. Angeles Investment Advisors LLC purchased a new position in shares of DoorDash during the 3rd quarter valued at $336,000. Finally, Bank of Nova Scotia increased its stake in shares of DoorDash by 685.9% in the third quarter. Bank of Nova Scotia now owns 46,751 shares of the company’s stock worth $3,715,000 after acquiring an additional 40,802 shares during the last quarter. 90.64% of the stock is owned by institutional investors and hedge funds.

DoorDash Trading Down 0.6 %

Shares of DASH stock opened at $130.10 on Friday. DoorDash, Inc. has a 1 year low of $56.59 and a 1 year high of $143.34. The firm’s fifty day simple moving average is $130.22 and its 200 day simple moving average is $106.42. The firm has a market capitalization of $52.56 billion, a P/E ratio of -90.98, a price-to-earnings-growth ratio of 15.69 and a beta of 1.79.

DoorDash (NASDAQ:DASH) last posted its quarterly earnings data on Thursday, February 15th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.24). DoorDash had a negative return on equity of 8.49% and a negative net margin of 6.46%. The company had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter in the previous year, the firm posted ($0.63) EPS. The business’s revenue for the quarter was up 26.7% compared to the same quarter last year. Equities research analysts anticipate that DoorDash, Inc. will post 0.2 EPS for the current fiscal year.

Analyst Ratings Changes

DASH has been the subject of a number of research reports. Morgan Stanley raised DoorDash from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $135.00 to $145.00 in a research report on Thursday, February 22nd. Jefferies Financial Group raised DoorDash from a “hold” rating to a “buy” rating and boosted their price target for the company from $90.00 to $130.00 in a research note on Monday, January 8th. Piper Sandler raised shares of DoorDash from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $53.00 to $127.00 in a research report on Friday, March 15th. Benchmark initiated coverage on shares of DoorDash in a research report on Thursday, April 4th. They issued a “buy” rating and a $165.00 target price for the company. Finally, The Goldman Sachs Group increased their price target on shares of DoorDash from $109.00 to $122.00 and gave the stock a “neutral” rating in a research note on Friday, February 16th. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $128.88.

Insider Buying and Selling at DoorDash

In other news, CEO Tony Xu sold 132,300 shares of DoorDash stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $133.51, for a total transaction of $17,663,373.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Keith Yandell sold 3,500 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $104.89, for a total value of $367,115.00. Following the completion of the transaction, the insider now owns 179,350 shares of the company’s stock, valued at $18,812,021.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Tony Xu sold 132,300 shares of DoorDash stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $133.51, for a total value of $17,663,373.00. The disclosure for this sale can be found here. Insiders sold a total of 497,282 shares of company stock valued at $64,885,042 in the last quarter. Corporate insiders own 9.59% of the company’s stock.

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.