Mercer Global Advisors Inc. ADV Grows Stake in DoorDash, Inc. (NASDAQ:DASH)

Mercer Global Advisors Inc. ADV grew its holdings in shares of DoorDash, Inc. (NASDAQ:DASH) by 0.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 84,638 shares of the company’s stock after purchasing an additional 394 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in DoorDash were worth $9,197,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. increased its position in DoorDash by 82.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 293 shares of the company’s stock valued at $32,000 after buying an additional 132 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of DoorDash during the second quarter valued at about $32,000. Versant Capital Management Inc raised its position in shares of DoorDash by 340.8% in the 2nd quarter. Versant Capital Management Inc now owns 335 shares of the company’s stock valued at $36,000 after purchasing an additional 259 shares during the last quarter. ORG Partners LLC boosted its stake in DoorDash by 2,108.3% in the 1st quarter. ORG Partners LLC now owns 265 shares of the company’s stock worth $37,000 after purchasing an additional 253 shares in the last quarter. Finally, Quest Partners LLC grew its position in DoorDash by 146.8% during the 2nd quarter. Quest Partners LLC now owns 343 shares of the company’s stock worth $37,000 after purchasing an additional 204 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.

DoorDash Stock Performance

NASDAQ:DASH opened at $137.29 on Friday. The company has a fifty day moving average of $120.04 and a two-hundred day moving average of $121.42. DoorDash, Inc. has a fifty-two week low of $69.90 and a fifty-two week high of $143.34. The stock has a market capitalization of $56.14 billion, a PE ratio of -127.12, a P/E/G ratio of 275.59 and a beta of 1.69.

DoorDash (NASDAQ:DASH) last announced its earnings results on Thursday, August 1st. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.29). The firm had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.54 billion. DoorDash had a negative net margin of 4.24% and a negative return on equity of 5.91%. DoorDash’s revenue was up 23.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.44) EPS. Research analysts forecast that DoorDash, Inc. will post 0.01 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on DASH shares. Redburn Atlantic initiated coverage on shares of DoorDash in a research note on Friday, July 26th. They set a “buy” rating and a $170.00 price objective for the company. KeyCorp began coverage on DoorDash in a research note on Thursday, July 11th. They set a “sector weight” rating on the stock. BMO Capital Markets increased their price objective on DoorDash from $127.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Wedbush reaffirmed a “neutral” rating and set a $115.00 target price on shares of DoorDash in a report on Friday, August 2nd. Finally, Piper Sandler reiterated a “neutral” rating and issued a $125.00 price target (up previously from $115.00) on shares of DoorDash in a report on Friday, August 2nd. Eleven research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $143.00.

Insider Activity at DoorDash

In other DoorDash news, insider Keith Yandell sold 6,554 shares of DoorDash stock in a transaction on Monday, July 1st. The shares were sold at an average price of $107.75, for a total transaction of $706,193.50. Following the sale, the insider now owns 155,097 shares of the company’s stock, valued at approximately $16,711,701.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other DoorDash news, insider Keith Yandell sold 6,554 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $107.75, for a total value of $706,193.50. Following the transaction, the insider now directly owns 155,097 shares of the company’s stock, valued at approximately $16,711,701.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Tony Xu sold 54,166 shares of the business’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $104.96, for a total value of $5,685,263.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 304,769 shares of company stock valued at $34,760,113. 7.92% of the stock is owned by insiders.

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.