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

Park Avenue Securities LLC boosted its stake in shares of DoorDash, Inc. (NASDAQ:DASH) by 19.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,167 shares of the company’s stock after buying an additional 1,499 shares during the quarter. Park Avenue Securities LLC’s holdings in DoorDash were worth $1,538,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Rakuten Securities Inc. boosted its stake in DoorDash by 302.3% during the third quarter. Rakuten Securities Inc. now owns 173 shares of the company’s stock worth $25,000 after buying an additional 130 shares during the period. ORG Wealth Partners LLC purchased a new position in shares of DoorDash in the fourth quarter valued at approximately $36,000. Hollencrest Capital Management purchased a new position in shares of DoorDash in the third quarter valued at approximately $54,000. Quarry LP purchased a new position in shares of DoorDash in the second quarter valued at approximately $60,000. Finally, Venturi Wealth Management LLC boosted its stake in shares of DoorDash by 39.0% in the third quarter. Venturi Wealth Management LLC now owns 424 shares of the company’s stock valued at $61,000 after purchasing an additional 119 shares during the period. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Royal Bank of Canada raised their price objective on shares of DoorDash from $175.00 to $215.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. BMO Capital Markets raised their price objective on shares of DoorDash from $140.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Argus raised shares of DoorDash from a “hold” rating to a “buy” rating in a research note on Friday, December 20th. JMP Securities reissued a “market outperform” rating and issued a $200.00 price objective on shares of DoorDash in a research note on Thursday, January 2nd. Finally, Susquehanna raised their price objective on shares of DoorDash from $140.00 to $180.00 and gave the company a “positive” rating in a research note on Friday, November 1st. Nine investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat, DoorDash currently has a consensus rating of “Moderate Buy” and an average price target of $175.97.

Insider Buying and Selling at DoorDash

In other DoorDash news, CEO Tony Xu sold 108,332 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $170.25, for a total value of $18,443,523.00. Following the transaction, the chief executive officer now directly owns 1,500 shares of the company’s stock, valued at approximately $255,375. The trade was a 98.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Andy Fang sold 50,000 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $172.67, for a total transaction of $8,633,500.00. Following the completion of the transaction, the director now directly owns 18,089 shares in the company, valued at $3,123,427.63. This represents a 73.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,019,333 shares of company stock valued at $177,556,541. 7.92% of the stock is owned by company insiders.

DoorDash Price Performance

Shares of DoorDash stock opened at $174.48 on Friday. The firm’s fifty day simple moving average is $173.60 and its 200-day simple moving average is $145.99. The stock has a market capitalization of $72.48 billion, a price-to-earnings ratio of -387.73, a PEG ratio of 1.77 and a beta of 1.71. DoorDash, Inc. has a 12 month low of $99.32 and a 12 month high of $181.78.

DoorDash (NASDAQ:DASH) last announced its earnings results on Wednesday, October 30th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.17. The business had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.66 billion. DoorDash had a negative net margin of 1.69% and a negative return on equity of 2.41%. The company’s quarterly revenue was up 25.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.19) EPS. Analysts anticipate that DoorDash, Inc. will post 0.26 earnings per share for the current 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.