LPL Financial LLC Acquires 22,579 Shares of DoorDash, Inc. (NASDAQ:DASH)

LPL Financial LLC lifted its holdings in DoorDash, Inc. (NASDAQ:DASH) by 30.0% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 97,771 shares of the company’s stock after acquiring an additional 22,579 shares during the quarter. LPL Financial LLC’s holdings in DoorDash were worth $17,870,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Capital World Investors boosted its position in DoorDash by 26.4% during the 4th quarter. Capital World Investors now owns 12,153,265 shares of the company’s stock valued at $2,038,712,000 after buying an additional 2,538,160 shares during the period. Invesco Ltd. raised its holdings in shares of DoorDash by 20.2% during the fourth quarter. Invesco Ltd. now owns 3,383,657 shares of the company’s stock valued at $567,609,000 after acquiring an additional 567,948 shares in the last quarter. Marshall Wace LLP boosted its holdings in DoorDash by 0.6% in the fourth quarter. Marshall Wace LLP now owns 2,764,431 shares of the company’s stock valued at $463,733,000 after acquiring an additional 15,952 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in DoorDash by 46.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,515,861 shares of the company’s stock worth $422,036,000 after purchasing an additional 800,322 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of DoorDash by 13.1% during the 4th quarter. Renaissance Technologies LLC now owns 2,473,488 shares of the company’s stock valued at $414,928,000 after purchasing an additional 286,800 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Insider Activity

In other news, Director Stanley Tang sold 45,410 shares of the firm’s stock in a transaction dated 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 sale, the director owned 26,070 shares in the company, valued at approximately $6,274,788.30. This trade represents a 63.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Prabir Adarkar sold 62,267 shares of the company’s stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $202.67, for a total transaction of $12,619,652.89. Following the transaction, the chief operating officer owned 942,554 shares in the company, valued at $191,027,419.18. The trade was a 6.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 583,537 shares of company stock worth $133,720,004. 5.83% of the stock is currently owned by insiders.

DoorDash Trading Down 1.1%

DASH opened at $255.28 on Wednesday. DoorDash, Inc. has a 12 month low of $120.91 and a 12 month high of $259.87. The stock has a 50-day moving average of $232.69 and a 200 day moving average of $204.86. The firm has a market cap of $108.17 billion, a P/E ratio of 331.54 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.05. The company had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.10 billion. DoorDash had a return on equity of 4.39% and a net margin of 3.02%. DoorDash’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.06) EPS. On average, research analysts forecast that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Bank of America upped their target price on DoorDash from $230.00 to $245.00 and gave the stock a “buy” rating in a report on Thursday, June 12th. Stifel Nicolaus boosted their target price on shares of DoorDash from $198.00 to $214.00 and gave the company a “hold” rating in a report on Tuesday, July 29th. Wells Fargo & Company lifted their price target on shares of DoorDash from $198.00 to $239.00 and gave the company an “equal weight” rating in a research report on Monday, July 7th. Jefferies Financial Group reissued a “hold” rating and issued a $250.00 price target (up from $235.00) on shares of DoorDash in a research report on Tuesday, July 15th. Finally, JPMorgan Chase & Co. cut their target price on DoorDash from $205.00 to $175.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Eleven equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $235.56.

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.