Envestnet Asset Management Inc. Purchases 82,680 Shares of DoorDash, Inc. (NYSE:DASH)

Envestnet Asset Management Inc. lifted its position in DoorDash, Inc. (NYSE:DASHGet Rating) by 330.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 107,712 shares of the company’s stock after buying an additional 82,680 shares during the period. Envestnet Asset Management Inc.’s holdings in DoorDash were worth $6,912,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. IndexIQ Advisors LLC bought a new stake in shares of DoorDash in the first quarter worth about $32,000. CWM LLC increased its stake in DoorDash by 608.1% during the 1st quarter. CWM LLC now owns 439 shares of the company’s stock worth $51,000 after purchasing an additional 377 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in DoorDash by 16,080.0% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 809 shares of the company’s stock worth $95,000 after purchasing an additional 804 shares in the last quarter. SCHRODERS IS Ltd acquired a new stake in DoorDash during the 2nd quarter worth approximately $57,000. Finally, US Bancorp DE lifted its stake in DoorDash by 204.6% in the first quarter. US Bancorp DE now owns 926 shares of the company’s stock valued at $109,000 after buying an additional 622 shares in the last quarter. Institutional investors and hedge funds own 80.51% of the company’s stock.

Insider Transactions at DoorDash

In related news, Director Shona L. Brown sold 1,250 shares of the company’s stock in a transaction dated Thursday, October 6th. The shares were sold at an average price of $53.27, for a total value of $66,587.50. Following the transaction, the director now owns 86,028 shares in the company, valued at approximately $4,582,711.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, General Counsel Tia Sherringham sold 9,757 shares of DoorDash stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $63.79, for a total transaction of $622,399.03. Following the completion of the sale, the general counsel now owns 158,202 shares of the company’s stock, valued at $10,091,705.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Shona L. Brown sold 1,250 shares of the company’s stock in a transaction dated Thursday, October 6th. The shares were sold at an average price of $53.27, for a total transaction of $66,587.50. Following the completion of the transaction, the director now owns 86,028 shares in the company, valued at $4,582,711.56. The disclosure for this sale can be found here. In the last 90 days, insiders sold 127,224 shares of company stock worth $8,146,494. 12.10% of the stock is owned by insiders.

Analysts Set New Price Targets

DASH has been the subject of several research reports. Royal Bank of Canada lowered their price objective on shares of DoorDash from $100.00 to $70.00 and set an “outperform” rating for the company in a research report on Friday, November 4th. Evercore ISI lifted their price target on DoorDash from $98.00 to $122.00 and gave the company an “outperform” rating in a research note on Friday, August 5th. Truist Financial cut their price target on DoorDash from $185.00 to $101.00 and set a “buy” rating on the stock in a report on Monday, October 24th. Citigroup decreased their price objective on DoorDash from $129.00 to $100.00 in a report on Friday, November 4th. Finally, The Goldman Sachs Group cut their target price on DoorDash from $84.00 to $69.00 and set a “neutral” rating on the stock in a research note on Monday. Ten investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, DoorDash presently has a consensus rating of “Moderate Buy” and an average target price of $114.90.

DoorDash Stock Down 2.3 %

DASH opened at $53.25 on Thursday. DoorDash, Inc. has a 12-month low of $41.37 and a 12-month high of $257.25. The business has a 50 day moving average of $52.31 and a 200-day moving average of $64.35. The stock has a market cap of $20.56 billion, a price-to-earnings ratio of -22.00 and a beta of 1.04.

DoorDash (NYSE:DASHGet Rating) last announced its quarterly earnings results on Thursday, November 3rd. The company reported ($0.77) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.60) by ($0.17). DoorDash had a negative net margin of 14.51% and a negative return on equity of 15.78%. The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.64 billion. As a group, analysts expect that DoorDash, Inc. will post -2.36 earnings per share for the current year.

DoorDash Profile

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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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Institutional Ownership by Quarter for DoorDash (NYSE:DASH)

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