NewEdge Wealth LLC Takes Position in DoorDash, Inc. (NASDAQ:DASH)

NewEdge Wealth LLC acquired a new stake in DoorDash, Inc. (NASDAQ:DASH) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 2,640 shares of the company’s stock, valued at approximately $261,000.

A number of other hedge funds also recently made changes to their positions in the business. Perigon Wealth Management LLC raised its stake in shares of DoorDash by 19.6% in the 4th quarter. Perigon Wealth Management LLC now owns 3,181 shares of the company’s stock valued at $315,000 after buying an additional 522 shares in the last quarter. Cerity Partners LLC increased its position in shares of DoorDash by 94.4% during the 4th quarter. Cerity Partners LLC now owns 87,908 shares of the company’s stock worth $8,693,000 after purchasing an additional 42,690 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in shares of DoorDash during the 4th quarter worth about $769,000. Baillie Gifford & Co. increased its position in shares of DoorDash by 6.4% during the 4th quarter. Baillie Gifford & Co. now owns 12,775,622 shares of the company’s stock worth $1,263,381,000 after purchasing an additional 772,977 shares in the last quarter. Finally, Windmill Hill Asset Management Ltd increased its position in shares of DoorDash by 20.0% during the 4th quarter. Windmill Hill Asset Management Ltd now owns 34,536 shares of the company’s stock worth $3,415,000 after purchasing an additional 5,756 shares in the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Trading Down 0.6 %

Shares of NASDAQ DASH opened at $130.10 on Friday. The firm’s 50-day moving average is $130.22 and its 200-day moving average is $106.42. DoorDash, Inc. has a 1 year low of $56.59 and a 1 year high of $143.34. The firm has a market capitalization of $52.56 billion, a PE ratio of -90.98, a price-to-earnings-growth ratio of 15.69 and a beta of 1.79.

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

Insider Activity at DoorDash

In related news, CAO Gordon S. Lee sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $124.50, for a total transaction of $124,500.00. Following the completion of the transaction, the chief accounting officer now owns 92,207 shares in the company, valued at $11,479,771.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CAO Gordon S. Lee sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $124.50, for a total transaction of $124,500.00. Following the completion of the transaction, the chief accounting officer now owns 92,207 shares in the company, valued at $11,479,771.50. The sale was disclosed in a filing with the SEC, which can be accessed 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 transaction of $17,663,373.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 497,282 shares of company stock worth $64,885,042. 9.59% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Oppenheimer increased their target price on shares of DoorDash from $110.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. Wedbush increased their target price on shares of DoorDash from $92.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, February 16th. JMP Securities increased their target price on shares of DoorDash from $130.00 to $160.00 and gave the stock a “market outperform” rating in a research report on Wednesday, March 27th. Truist Financial increased their target price on shares of DoorDash from $140.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, March 27th. Finally, The Goldman Sachs Group increased their target price on shares of DoorDash from $109.00 to $122.00 and gave the stock a “neutral” rating in a research report on Friday, February 16th. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $128.88.

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.