Park Avenue Securities LLC Grows Stock Position in DoorDash, Inc. (NASDAQ:DASH)

Park Avenue Securities LLC boosted its stake in DoorDash, Inc. (NASDAQ:DASH) by 9.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,017 shares of the company’s stock after acquiring an additional 850 shares during the quarter. Park Avenue Securities LLC’s holdings in DoorDash were worth $1,831,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DASH. Brighton Jones LLC boosted its stake in shares of DoorDash by 24.0% during the 4th quarter. Brighton Jones LLC now owns 9,336 shares of the company’s stock valued at $1,566,000 after buying an additional 1,807 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of DoorDash by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 93,382 shares of the company’s stock valued at $15,665,000 after buying an additional 2,596 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of DoorDash by 36.2% during the 4th quarter. Jones Financial Companies Lllp now owns 1,926 shares of the company’s stock valued at $323,000 after buying an additional 512 shares during the last quarter. Truist Financial Corp boosted its stake in shares of DoorDash by 35.1% during the 4th quarter. Truist Financial Corp now owns 8,597 shares of the company’s stock valued at $1,442,000 after buying an additional 2,233 shares during the last quarter. Finally, Allworth Financial LP boosted its stake in shares of DoorDash by 26.9% during the 4th quarter. Allworth Financial LP now owns 840 shares of the company’s stock valued at $149,000 after buying an additional 178 shares during the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. UBS Group reduced their target price on DoorDash from $197.00 to $196.00 and set a “neutral” rating for the company in a research note on Wednesday, May 7th. Susquehanna upped their price target on DoorDash from $180.00 to $235.00 and gave the company a “positive” rating in a research report on Thursday, February 13th. DA Davidson upped their price target on DoorDash from $150.00 to $190.00 and gave the company a “neutral” rating in a research report on Tuesday, May 6th. The Goldman Sachs Group upped their price target on DoorDash from $192.00 to $212.00 and gave the company a “neutral” rating in a research report on Wednesday, February 12th. Finally, Bank of America dropped their price target on DoorDash from $245.00 to $235.00 and set a “buy” rating on the stock in a research report on Monday, April 7th. Ten analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to MarketBeat.com, DoorDash presently has a consensus rating of “Moderate Buy” and a consensus price target of $209.62.

DoorDash Price Performance

DoorDash stock opened at $214.97 on Wednesday. The stock’s fifty day moving average price is $193.35 and its two-hundred day moving average price is $187.04. DoorDash, Inc. has a one year low of $99.32 and a one year high of $220.88. The firm has a market cap of $91.09 billion, a PE ratio of 796.19 and a beta of 1.67.

DoorDash (NASDAQ:DASH) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.05. DoorDash had a return on equity of 1.67% and a net margin of 1.15%. The company had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same quarter last year, the company posted ($0.06) EPS. The company’s revenue for the quarter was up 20.7% compared to the same quarter last year. Sell-side analysts expect that DoorDash, Inc. will post 2.22 earnings per share for the current fiscal year.

Insider Activity at DoorDash

In related news, COO Prabir Adarkar sold 62,267 shares of the firm’s stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $202.67, for a total transaction of $12,619,652.89. Following the sale, the chief operating officer now owns 942,554 shares of the company’s stock, valued at $191,027,419.18. This trade represents a 6.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Ravi Inukonda sold 1,425 shares of the firm’s stock in a transaction on Friday, April 25th. The shares were sold at an average price of $187.22, for a total value of $266,788.50. Following the sale, the chief financial officer now directly owns 337,430 shares in the company, valued at approximately $63,173,644.60. This trade represents a 0.42% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 298,030 shares of company stock valued at $59,433,406 in the last 90 days. 5.83% of the stock is owned by corporate insiders.

About DoorDash

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.