First Trust Direct Indexing L.P. Purchases 437 Shares of DoorDash, Inc. (NASDAQ:DASH)

First Trust Direct Indexing L.P. increased its position in DoorDash, Inc. (NASDAQ:DASHFree Report) by 10.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,780 shares of the company’s stock after purchasing an additional 437 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in DoorDash were worth $658,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Norden Group LLC bought a new position in DoorDash in the first quarter worth approximately $1,135,000. Valley National Advisers Inc. grew its stake in DoorDash by 32.1% in the first quarter. Valley National Advisers Inc. now owns 580 shares of the company’s stock worth $79,000 after purchasing an additional 141 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in DoorDash by 7.4% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 689,785 shares of the company’s stock worth $94,997,000 after purchasing an additional 47,725 shares in the last quarter. Edmonds Duncan Registered Investment Advisors LLC bought a new position in DoorDash in the first quarter worth approximately $332,000. Finally, Allspring Global Investments Holdings LLC grew its stake in DoorDash by 38.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 271,024 shares of the company’s stock worth $37,325,000 after purchasing an additional 75,272 shares in the last quarter. Institutional investors own 90.64% of the company’s stock.

DoorDash Stock Performance

Shares of DASH opened at $110.96 on Friday. The business’s 50-day moving average is $113.57 and its two-hundred day moving average is $117.36. The company has a market capitalization of $45.37 billion, a P/E ratio of -102.74, a P/E/G ratio of 27.21 and a beta of 1.67. DoorDash, Inc. has a fifty-two week low of $69.90 and a fifty-two week high of $143.34.

DoorDash (NASDAQ:DASHGet Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.01. DoorDash had a negative return on equity of 6.28% and a negative net margin of 4.61%. The company had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.45 billion. During the same period last year, the firm earned ($0.41) EPS. The firm’s revenue for the quarter was up 23.5% compared to the same quarter last year. Analysts forecast that DoorDash, Inc. will post 0.11 EPS for the current year.

Insider Activity

In other news, CEO Tony Xu sold 54,166 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $107.75, for a total transaction of $5,836,386.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Tony Xu sold 54,166 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $107.75, for a total value of $5,836,386.50. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Prabir Adarkar sold 8,000 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $107.61, for a total transaction of $860,880.00. Following the completion of the transaction, the chief operating officer now directly owns 1,002,787 shares in the company, valued at $107,909,909.07. The disclosure for this sale can be found here. Insiders have sold 553,345 shares of company stock worth $66,416,801 in the last ninety days. Company insiders own 7.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on DASH. Benchmark lowered their target price on DoorDash from $165.00 to $150.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Piper Sandler upgraded DoorDash from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $53.00 to $127.00 in a report on Friday, March 15th. Truist Financial lowered 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. Roth Mkm lowered their target price on DoorDash from $121.00 to $118.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. Finally, Oppenheimer upped their target price on DoorDash from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Monday, April 29th. Eight research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $134.79.

View Our Latest Research Report on DoorDash

DoorDash Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for DoorDash (NASDAQ:DASH)

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