Envestnet Asset Management Inc. Acquires 13,260 Shares of DoorDash, Inc. (NASDAQ:DASH)

Envestnet Asset Management Inc. boosted its stake in DoorDash, Inc. (NASDAQ:DASH) by 14.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 105,272 shares of the company’s stock after buying an additional 13,260 shares during the period. Envestnet Asset Management Inc.’s holdings in DoorDash were worth $19,241,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. GeoWealth Management LLC lifted its holdings in shares of DoorDash by 3.7% during the fourth quarter. GeoWealth Management LLC now owns 1,428 shares of the company’s stock valued at $240,000 after purchasing an additional 51 shares during the last quarter. Coldstream Capital Management Inc. grew its position in DoorDash by 5.5% in the 4th quarter. Coldstream Capital Management Inc. now owns 1,661 shares of the company’s stock worth $279,000 after purchasing an additional 86 shares during the period. LVW Advisors LLC grew its position in DoorDash by 6.1% in the 1st quarter. LVW Advisors LLC now owns 1,495 shares of the company’s stock worth $273,000 after purchasing an additional 86 shares during the period. CVA Family Office LLC grew its position in shares of DoorDash by 12.7% during the 1st quarter. CVA Family Office LLC now owns 774 shares of the company’s stock valued at $141,000 after acquiring an additional 87 shares during the period. Finally, Insigneo Advisory Services LLC grew its position in shares of DoorDash by 4.8% during the 4th quarter. Insigneo Advisory Services LLC now owns 2,315 shares of the company’s stock valued at $388,000 after acquiring an additional 105 shares during the period. 90.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wells Fargo & Company boosted their price target on shares of DoorDash from $198.00 to $239.00 and gave the stock an “equal weight” rating in a research note on Monday, July 7th. JPMorgan Chase & Co. lowered their price target on shares of DoorDash from $205.00 to $175.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. BTIG Research increased their target price on shares of DoorDash from $225.00 to $265.00 and gave the company a “buy” rating in a research report on Tuesday, July 1st. Jefferies Financial Group reaffirmed a “hold” rating and issued a $250.00 price target (up previously from $235.00) on shares of DoorDash in a report on Tuesday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $260.00 price objective (up previously from $210.00) on shares of DoorDash in a research note on Wednesday, June 25th. Eleven research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $225.94.

DoorDash Price Performance

Shares of DASH stock opened at $234.50 on Thursday. The firm’s 50-day moving average is $219.58 and its two-hundred day moving average is $197.44. DoorDash, Inc. has a 12 month low of $99.32 and a 12 month high of $248.74. The company has a market capitalization of $99.37 billion, a PE ratio of 304.55 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.05. The firm had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $3.10 billion. DoorDash had a net margin of 3.02% and a return on equity of 4.39%. The business’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.06) earnings per share. Sell-side analysts forecast that DoorDash, Inc. will post 2.22 EPS for the current year.

Insider Activity at DoorDash

In other news, Director Stanley Tang sold 45,410 shares of the company’s stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $240.69, for a total value of $10,929,732.90. Following the completion of the transaction, the director owned 26,070 shares in the company, valued at approximately $6,274,788.30. This represents a 63.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Andy Fang sold 30,000 shares of the company’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $217.52, for a total transaction of $6,525,600.00. Following the completion of the transaction, the director owned 22,545 shares of the company’s stock, valued at approximately $4,903,988.40. The trade was a 57.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 429,031 shares of company stock worth $94,584,086 over the last ninety days. 5.83% of the stock is currently owned by insiders.

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.