First Trust Direct Indexing L.P. Buys 711 Shares of DoorDash, Inc. (NASDAQ:DASH)

First Trust Direct Indexing L.P. boosted its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 19.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,343 shares of the company’s stock after acquiring an additional 711 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in DoorDash were worth $429,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Versor Investments LP bought a new position in DoorDash during the 3rd quarter worth $556,000. Assenagon Asset Management S.A. lifted its holdings in shares of DoorDash by 1,725.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,113,175 shares of the company’s stock worth $110,082,000 after purchasing an additional 1,052,198 shares during the period. Sequoia Financial Advisors LLC bought a new position in shares of DoorDash during the fourth quarter worth about $769,000. Angeles Investment Advisors LLC bought a new position in DoorDash during the third quarter worth $336,000. Finally, Bank of Nova Scotia grew its stake in DoorDash by 685.9% during the third quarter. Bank of Nova Scotia now owns 46,751 shares of the company’s stock worth $3,715,000 after purchasing an additional 40,802 shares during the period. 90.64% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on DASH. JMP Securities lowered their target price on shares of DoorDash from $160.00 to $140.00 and set a “market outperform” rating on the stock in a report on Thursday, May 2nd. Piper Sandler raised shares of DoorDash from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $53.00 to $127.00 in a report on Friday, March 15th. Susquehanna lifted their price target on DoorDash from $110.00 to $135.00 and gave the company a “positive” rating in a research report on Tuesday, February 20th. Truist Financial reduced their target price on DoorDash from $155.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Finally, Wedbush reissued a “neutral” rating and issued a $115.00 price target on shares of DoorDash in a report on Thursday, May 2nd. Nine investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, DoorDash presently has a consensus rating of “Moderate Buy” and an average target price of $129.96.

Insiders Place Their Bets

In related news, General Counsel Tia Sherringham sold 1,880 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $120.15, for a total transaction of $225,882.00. Following the completion of the sale, the general counsel now owns 217,260 shares of the company’s stock, valued at approximately $26,103,789. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Tony Xu sold 132,300 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $131.96, for a total transaction of $17,458,308.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Tia Sherringham sold 1,880 shares of DoorDash stock in a transaction on Monday, February 12th. The shares were sold at an average price of $120.15, for a total value of $225,882.00. Following the transaction, the general counsel now owns 217,260 shares in the company, valued at $26,103,789. The disclosure for this sale can be found here. Over the last three months, insiders have sold 487,082 shares of company stock valued at $63,970,010. Company insiders own 9.59% of the company’s stock.

DoorDash Stock Up 3.3 %

Shares of NASDAQ:DASH opened at $117.59 on Tuesday. The company has a market capitalization of $47.51 billion, a price-to-earnings ratio of -108.88, a price-to-earnings-growth ratio of 15.89 and a beta of 1.78. The company has a 50 day moving average of $131.86 and a two-hundred day moving average of $110.63. DoorDash, Inc. has a 52-week low of $62.83 and a 52-week high of $143.34.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Wednesday, May 1st. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. DoorDash had a negative net margin of 4.61% and a negative return on equity of 6.28%. The business had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.45 billion. During the same quarter in the previous year, the firm earned ($0.41) earnings per share. The business’s revenue was up 23.5% compared to the same quarter last year. On average, equities analysts anticipate that DoorDash, Inc. will post 0.17 earnings per share for the current year.

DoorDash Company 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.