Sequoia Financial Advisors LLC Makes New Investment in DoorDash, Inc. (NASDAQ:DASH)

Sequoia Financial Advisors LLC bought a new stake in DoorDash, Inc. (NASDAQ:DASH) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 7,777 shares of the company’s stock, valued at approximately $769,000.

A number of other hedge funds have also made changes to their positions in the business. Norges Bank acquired a new stake in DoorDash in the 4th quarter valued at $132,721,000. Vanguard Group Inc. grew its stake in shares of DoorDash by 18.8% in the first quarter. Vanguard Group Inc. now owns 12,862,889 shares of the company’s stock valued at $1,507,402,000 after buying an additional 2,032,637 shares in the last quarter. Amundi raised its holdings in shares of DoorDash by 1,801.6% during the 4th quarter. Amundi now owns 1,797,416 shares of the company’s stock valued at $93,106,000 after buying an additional 1,702,894 shares during the period. State Street Corp lifted its position in DoorDash by 49.4% during the 2nd quarter. State Street Corp now owns 4,358,288 shares of the company’s stock worth $279,671,000 after acquiring an additional 1,441,028 shares in the last quarter. Finally, Morgan Stanley lifted its position in DoorDash by 5.0% during the 4th quarter. Morgan Stanley now owns 29,086,197 shares of the company’s stock worth $1,419,988,000 after acquiring an additional 1,384,006 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Insider Activity

In related news, CFO Ravi Inukonda sold 5,000 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $109.73, for a total value of $548,650.00. Following the sale, the chief financial officer now owns 414,738 shares of the company’s stock, valued at approximately $45,509,200.74. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, Director Andy Fang sold 67,000 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $110.57, for a total transaction of $7,408,190.00. Following the transaction, the director now directly owns 40,969 shares of the company’s stock, valued at $4,529,942.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ravi Inukonda sold 5,000 shares of DoorDash stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $109.73, for a total transaction of $548,650.00. Following the sale, the chief financial officer now owns 414,738 shares in the company, valued at $45,509,200.74. The disclosure for this sale can be found here. Over the last quarter, insiders sold 364,982 shares of company stock valued at $47,221,669. 9.59% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of DoorDash from $125.00 to $140.00 in a research note on Thursday, February 15th. Truist Financial boosted their price objective on shares of DoorDash from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, March 27th. BMO Capital Markets raised their target price on DoorDash from $120.00 to $138.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Morgan Stanley upgraded DoorDash from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $135.00 to $145.00 in a research note on Thursday, February 22nd. Finally, Susquehanna raised their price objective on DoorDash from $110.00 to $135.00 and gave the company a “positive” rating in a research note on Tuesday, February 20th. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $128.25.

DoorDash Stock Down 4.0 %

Shares of DASH stock opened at $132.90 on Tuesday. The business has a 50 day moving average of $129.22 and a two-hundred day moving average of $105.70. The company has a market cap of $53.69 billion, a P/E ratio of -92.94, a PEG ratio of 16.22 and a beta of 1.79. DoorDash, Inc. has a 52 week low of $56.59 and a 52 week high of $143.34.

DoorDash (NASDAQ:DASH) last released its quarterly earnings data on Thursday, February 15th. The company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $2.25 billion. During the same quarter in the prior year, the firm earned ($0.63) EPS. The company’s revenue for the quarter was up 26.7% compared to the same quarter last year. Analysts expect that DoorDash, Inc. will post 0.2 EPS 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.