NewEdge Wealth LLC Buys Shares of 2,640 DoorDash, Inc. (NASDAQ:DASH)

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

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fifth Third Bancorp increased its position in DoorDash by 448.8% during the 3rd quarter. Fifth Third Bancorp now owns 439 shares of the company’s stock valued at $35,000 after purchasing an additional 359 shares during the period. Covestor Ltd increased its position in DoorDash by 101.2% during the 3rd quarter. Covestor Ltd now owns 503 shares of the company’s stock valued at $40,000 after purchasing an additional 253 shares during the period. Valley National Advisers Inc. acquired a new stake in DoorDash during the 4th quarter valued at approximately $43,000. SJS Investment Consulting Inc. increased its position in DoorDash by 26.9% during the 4th quarter. SJS Investment Consulting Inc. now owns 462 shares of the company’s stock valued at $46,000 after purchasing an additional 98 shares during the period. Finally, Loomis Sayles & Co. L P grew its position in shares of DoorDash by 1,274.5% during the 3rd quarter. Loomis Sayles & Co. L P now owns 701 shares of the company’s stock worth $56,000 after buying an additional 650 shares during the period. Institutional investors and hedge funds own 90.64% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on DASH shares. Royal Bank of Canada raised shares of DoorDash from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $130.00 to $175.00 in a research report on Monday, March 4th. Jefferies Financial Group raised shares of DoorDash from a “hold” rating to a “buy” rating and raised their price objective for the stock from $90.00 to $130.00 in a research report on Monday, January 8th. JMP Securities raised their price objective 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. Benchmark started coverage on shares of DoorDash in a research report on Thursday, April 4th. They set a “buy” rating and a $165.00 price objective for the company. Finally, The Goldman Sachs Group raised their price objective 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 equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $128.88.

Insider Buying and Selling at DoorDash

In other news, CAO Gordon S. Lee sold 1,000 shares of DoorDash stock in a transaction on Friday, March 1st. The stock was sold at an average price of $124.50, for a total transaction of $124,500.00. Following the sale, the chief accounting officer now directly owns 92,207 shares in the company, valued at approximately $11,479,771.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Gordon S. Lee sold 1,000 shares of DoorDash stock in a transaction on Friday, March 1st. The stock was sold at an average price of $124.50, for a total transaction of $124,500.00. Following the sale, the chief accounting officer now directly owns 92,207 shares in the company, valued at approximately $11,479,771.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Tony Xu sold 132,300 shares of DoorDash stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $131.96, for a total value of $17,458,308.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 497,282 shares of company stock worth $64,885,042. Corporate insiders own 9.59% of the company’s stock.

DoorDash Trading Down 0.6 %

Shares of NASDAQ:DASH opened at $130.10 on Friday. The stock’s fifty day simple moving average is $130.22 and its two-hundred day simple moving average is $106.42. DoorDash, Inc. has a 1-year low of $56.59 and a 1-year high of $143.34. The stock has a market cap 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 for the quarter, missing the consensus estimate of ($0.15) by ($0.24). DoorDash had a negative net margin of 6.46% and a negative return on equity of 8.49%. The company had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.25 billion. During the same quarter last year, the business posted ($0.63) earnings per share. DoorDash’s revenue was up 26.7% on a year-over-year basis. On average, sell-side analysts forecast that DoorDash, Inc. will post 0.2 earnings per share for the current fiscal year.

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.